We are happy to provide a recap of Algem’s recent activities and developments from September and an update on the roadmap for Algem in Quarter 4 as we continually build products to serve the community. We persist in becoming the best in the field. Hence, we are furthering our efforts in crafting campaigns that would best suit you. It’s been a month of worthwhile grind, and we are thrilled to share these updates with the rest of the Algem community!
- End of the Kagla campaign and distribution of KGL rewards: The Kagla campaign started in August and ended in September. The campaign participants have received the incentives of the campaign. You can get more information on the Kagla campaign here.
- End of An Algem August Campaign and preparation for reward distribution: An Algem August campaign began in August to maximize profits for participants that stake their Astar tokens on Algem. The event ended on 10th September with a snapshot determining the earning potential taken on the 10th. The campaign rewards are investing over 30 days.
- Announcement of Algem’s next prominent feature, Adapter contracts: We announced Adapter contracts which will be launched imminently, pending the completion of audits on the contracts. Adapter contracts will improve the overall user experience.
- Equilibrium’s Private Closed Beta: Algem partnered with Equilibrium, joining its private closed beta. Our community will participate to win incentives from the prize pool of $40,000 worth of EQ tokens. The closed beta is live, and emails that guarantee your participation in the event have been sent to you. For more information on the event, check here.
- Race for the 1000th Algem user: We opened a mini-campaign to reward the 999th-1001st Algem users. The race is still on, with thousands of Astar tokens up as rewards for the winners. Join our Discord server for more information on this campaign.
- Finalizing audits of Algem’s smart contracts: We are working with QuantStamp to complete the audits for our smart contracts of the Algem protocol, Adapter contracts, and liquid staking 1.5.
- Audits for ALGM tokenomics by tokenomics experts and data scientists: ALGM is the governance token of the Algem protocol. The audit will fully break down Algem’s incentive structure and token model and perform data-based simulations.
- Adapter Contracts: We will launch Adapter contracts after the audits. We will first establish the Adapter contracts for Kagla and Sirius finance. Afterward, the contracts for Arthswap, Zenlink, SiO2, Starlay, and AstridDAO will come. Adapter contracts will serve as a proxy between you and Algem’s partner dapps, making it easier for you to utilize nASTR on these partner dapps directly from our website. Adapter contracts will increase security, provide better rewards and improve the user experience. You can interact with different protocols in the Astar ecosystem using a single dapp.
- Algem Liquid Staking 1.5: Liquid staking 1.5 will implement multiple pools for various dapps where you can stake your Astar tokens. This multi-pool system is similar to Astar’s conventional dapp staking.
- Algem NFT collection: Algem will launch its NFT collection in Q4. NFTs will be available for purchase to become permanent community members. The NFTs will come with some DeFi benefits inside the Algem ecosystem and on partner protocols.
- Liquid Lending: This feature will allow you to lock your Astar tokens in a vault to supply liquidity to partner protocols and receive nASTR, earn revenue for the liquidity provided, and ALGM tokens for supplying liquidity.
- ALGM token generation event: This will occur around the same time as the launch of liquid lending on Algem. The ALGM token will have utilities in Algem, Algem staking, and the Algem governance mechanism.
- ALGM listing on Centralized and decentralized exchanges after the TGE.
Algem’s report is a mix of flawless execution of campaigns and intricate sneak peeks of what awaits. The previous month had been nothing less than extraordinary. There had been so much growth and progress in Algem’s shared vision with the community. With that, we look forward to future events and activities that will further our goal, especially with our Q4 roadmap. Algem is relentless in building, expanding, and sharing collective achievements with you!
Algem is a dApp built on Astar Network and offers two main features: liquid staking and liquid lending. As the name implies, these two solutions enable ASTR holders to remain liquid with their assets while putting them to work. In addition, the liquid staking and lending solutions allow users to accumulate staking rewards and increase their earnings using Algem’s liquid nASTR tokens across Astar’s Defi ecosystem. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on Astar Network and Polkadot.