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Development Report – Algem (Bi-Weekly Update)


In the first two weeks of the year, the Algem development team has been actively engaged in enhancing the Liquid Farming protocol and adapting the current version of Liquid Staking for the upcoming Dapps Staking V3 update. The focus has been on improving test frameworks, code organization, and preparing for subsequent testing phases. Here’s a non-technical summary of the recent developments.

Smart Contracts Progress

Liquid Farming Development – Danny:

The initial week in the Liquid Farming development cycle concentrated on transitioning the project to the Foundry framework. This move allowed the team to streamline test cases and reduce the back-and-forth between TypeScript and Solidity. A small library was added on the contract side, reducing code duplication related to router and LP interaction. Additionally, the health factor calculation was updated, and a farming token with APR functions was introduced. These changes contribute to a more organized and efficient codebase.

The focus of the second week in Liquid Farming development shifted towards further improvements in automated tests, refining ALGM rewards calculations for precision. Script updates centralized approvals and similar calls. In addition to bug fixes, emphasis was placed on code formatting and readability, ensuring clarity when sharing the code on block explorers and other platforms.

Liquid dApp Staking and Vesting Development – Alex:

The primary focus in the first week was on adapting the current version of Liquid Staking v1.5 for the upcoming Dapps Staking V3 update. Important questions were clarified with the Astar team, and changes to the contract logic regarding interaction with the Dapps Staking contract were implemented. This sets the foundation for compatibility with the upcoming version.

The adapted contracts of Liquid Staking V1.5 were deployed on Shibuya, and testing of their interaction with Dapps Staking V3 was conducted. Ongoing testing involves data collection and verification of various conditions. The next week’s plan includes concluding the testing phase and preparing the contracts for auditing, ensuring a seamless transition to the updated version.

Upcoming Milestones:

Liquid Farming:

  1. Automated Tests Refinement: Continue refining and enhancing automated tests for precise ALGM rewards calculations.
  1. Code Formatting and Readability: Maintain a focus on improving code formatting and readability for better collaboration and sharing.
  1. Liquid Farming Testnet NFT Holders: Launch of an early access Liquid Farming testnet exclusively for Algemantis NFT holders, offering them a first look and engagement opportunity.

Liquid Staking:

  1. Testing Phase Conclusion: Complete the testing phase for the adapted Liquid Staking contracts on Shibuya, ensuring their smooth interaction with Dapps Staking V3.
  1. Auditing Preparation: Prepare the contracts for auditing to ensure security and reliability in the updated version.

These developments underscore our commitment to advancing the Algem ecosystem, making it more resilient, user-friendly, and adaptable to future updates.

We appreciate your continued support as we strive to provide a secure and efficient platform for the Algem community.

About Algem

Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid farming. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and farming solutions let users use Algem’s liquid nASTR tokens across Astar’s Defi ecosystem to earn staking rewards and make more money. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on the Astar Network and Polkadot.

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