At Algem, they are proud to be part of the Astar Network ecosystem and are fully dedicated to supporting and growing it. They believe in the immense potential of decentralized technology, and they  know that the key to unlocking that potential is through the creation and execution of expertly crafted dApps.

That’s why they are focused on incentivizing developers to build quality dapps. But they understand that for developers to be motivated, they need to see the rewards and benefits of their hard work…

Introducing Liquid dApp Staking and Multipool Staking!

How Liquid Dapp Staking Works…

By staking their ASTR, not only do token holders get to enjoy rewards and nASTR, but their staked ASTR also goes towards the Astar Build2Earn Program, providing a source of income for dApp creators.

Put simply, we’re creating a win-win-win for everyone (ASTR holders, Algem Team, and dApp developers)

How Multipool Staking Works…

Additionally, they’ve developed Multipool Staking, allowing the community to support their preferred dApps and creators. Currently, the list includes four dApps, namely Algem, Astar Degens, Astar Network, and Arthswap.

By utilizing Multipool Staking, you can endorse your preferred projects on Astar Network. This enables you to participate in the growth of these projects while earning rewards on your staked ASTR tokens.

And The Best Part?

They’ll be adding new dApps to the list every week until all projects on Astar Network are supported.

Their focus is to ensure that you have access to a variety of options to stake your ASTR tokens and earn rewards accordingly…

By adding new dApps regularly, we can cater to a wider user base and enable you to stake your ASTR tokens seamlessly.

Liquid Dapp Stake Without Ever Leaving Algem Platform

For an even smoother staking experience, we’ve created an EVM dApp Staking environment that replicates the appearance and sensation of your favorite dApps.

By doing so, you’ll be able to stake within Algem’s interface, without having to leave your familiar environment. As always, they’re dedicated to establishing a flourishing decentralized ecosystem, and they’re excited to witness Astar Network’s full potential.

Want to try our Liquid Staking Multipools on Astar Network?

If you want to support a specific dApp in liquid staking, follow our guide:

• Go to algem.io and launch the dApp by connecting your EVM wallet (i.e Metamask);
• Ensure enough ASTR tokens in your wallet;

How To Stake: 

• Enter the amount of ASTR tokens you want to deposit, (minimum of 100 ASTR)
• Then select the dApp;
• Confirm your action by clicking on the stake button.

• Receive an equal amount of nASTR tokens and begin earning staking rewards.
• Use nASTR tokens to farm on our partners Defi dApps in our nASTR Liquidity Hub;

You can add the nASTR token to Metamask by adding the following token address or using the dedicated feature in Algem dApp.

nASTR: 0xE511ED88575C57767BAfb72BfD10775413E3F2b0

How To Claim:

• To claim your rewards, you must first wait at least 1 era (~24h on Astar network);
• Then press the “claim” button and confirm the transaction;
• Your rewards will be distributed directly to your wallet.

 

How To Unstake:

• To unstake your nASTR tokens and redeem ASTR tokens, you must first switch to “unstake” mode;
• Enter the nASTR amount you wish to unstake from the selected dApp;
• You can unstake from one, several or all dApps at the same time.

• Select the unstaking parameters (regular or immediate) and accept the conditions;
• Confirm your action by clicking the “unstake” button.

You will receive your ASTR tokens directly into your wallet after fulfilling the unstaking conditions (e.g. unbonding period).

Transferring NASTR Tokens With Algem

When staking ASTR tokens in any dApp of Liquid Staking Multipools, you’ll earn nASTR tokens, each with its own unique utilities. For instance, Astar Degens or Algem dApp will label nASTR tokens as nASTR-AstarDegens or nASTR-Algem for Algem’s smart-contracts.

However, to use or trade them on other Astar protocols, they’re considered classic nASTR tokens.

When transferring nASTR tokens from a specific dApp, utilize Algem’s transfer feature to choose from which dApp among those staked you’d like to transfer nASTR. Otherwise, the tokens will be randomly selected from those in your wallet.

To Transfer NASTR Tokens Using Algem, Follow These Steps:

• Go to the Liquid Staking Dashboard and click on “Send nASTR” button next to your detailed stake;
• From one of the available dApps, enter the amount of nASTR tokens you want to transfer;
• Note that you can choose different dApps at the same time with different nASTR amounts;
• Enter the destination EVM address;
• Confirm your action by clicking on the send button.

 

Algem dApp Updates:

With the liquid staking multipools update, they’ve made a few other improvements to the dApp, including the addition of day and night mode, and the option to claim farming rewards directly from the liquid staking page.

How To Switch From Day To Night Mode:

Clicking the switch button located in the upper left corner lets you change from day mode to night mode and vice versa.

How To Claim NASTR Farming Rewards:

At the liquid staking page’s bottom, you choose where to farm with nASTR tokens in Astar’s Defi dApps. Also, rewards are visible and claimable via a simple button click.

 Important For NASTR Liquidity Hub Users

For users using the nASTR Liquidity Hub, you must update your token balance on the dashboard to make them visible. This is a one-time procedure.

• Open the Dashboard panel by clicking on the “More” button;
• Click on “Update balance” under nASTR in partner dApps ;
• Sign the transaction in your wallet.

About Algem

Algem 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.

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, creating a sustainable and cooperative ecosystem on Astar Network and Polkadot.

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Algem Partners With InsureDAO. They are entering this partnership to hedge against hacking risks by providing a coverage policy to our users’ funds.

The policy enables anyone to create an insurance market for their DeFi protocol & ensure its security.

This partnership is essential for us because it makes Algem more secure & reliable.

You can now purchase insurance for your staking position on Algem and protect it against smart contract vulnerabilities.

Here are some of the benefits for you that InsureDAO provides.

• Simple user interface and user experience;
• Affordable cost of insurance;
• This is the first-ever insurance protocol on top of Astar Network

Insurance Pool Details

1. Algem’s initial coverage will be $80k. This means Algem users can cover up to $80K’s worth of their staked assets. The higher the coverage sum, the higher the insurance cost.
2. The coverage duration is 3 months.
3. This is a part of the 300K index pool for all Astar Network DeFi projects available on InsureDAO.

How To Use InsureDAO In 7 Steps

1. Step 1: Go to InsureDAO dApp
2. Step 2: Connect your EVM wallet to InsureDAO using the Astar Network RPC;
3. Step 3: Select the protocol insurance that you want to purchase (Algem);
4. Step 4: Enter the amount and the period to be covered; the minimum cover period is 7 days and the maximum cover period is 90 days.
5. Step 5. Check the cost of the insurance
6. Step 6: Approve USDC
7. Step 7: Confirm by clicking on “Purchase Insurance” and signing the transaction in your wallet

How to redeem your insurance in case of a hack

If the Algem protocol, which you purchased insurance for, got hacked, you need to redeem your insurance from the dashboard of InsureDAO.

Once a payment decision pertaining to the incident is approved, insurance holders can redeem their insurance.

You need to claim your insurance payout within 7 days of execution.

Find out more about InsureDAO in their documentation.

About InsureDAO

InsureDAO a decentralized insurance protocol, allowing anyone to create an insurance pool easily to “Cover every single risk in DeFi space”. InsureDAO provides an insurance builder kit and insurance market. Additionally, we offer the lending function to INSURE token stakers.

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About Algem

Algem 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.

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, creating a sustainable and cooperative ecosystem on Astar Network and Polkadot.

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Algem, the leading DeFi liquidity hub in the Astar Network and Polkadot ecosystem. The Algem partnership with Kagla Finance. Kagla is an AMM (Automated Market Maker) and StableSwap protocol on Astar Network with low slippage and transaction fees.

Through this partnership, Kagla officially supports the nASTR: ASTR pair in its farms and pools. This means you can go to Kagla’s app and provide nASTR:ASTR liquidity or perform swaps.

Earn Extra ALGM Incentives

To incentivize maximum participation in our campaign with Kagla, we are launching a 3-week campaign to give you extra rewards!

Here are the key highlights of the campaign:

Reward parameters:

• Pool: nASTR/ASTR
• Base reward: Based on the final voting result on Muu Finance.

• Extra rewards: 75,000 ALGM incentives allocated from Algem & extra incentives in KGL from Kagla Finance.
• Launch date: August 18th, 2022
• End date: September 8th, 2022

The Algem team will take daily snapshots during the 3 week campaign and distribute ALGM rewards based on user shares in the nASTR/ASTR pool after the ALGM TGE.

Guide

To understand how to use Algem, please visit our documentation.

• Step 1: First, you must have nASTR tokens by staking your ASTR tokens on Algem.
• Step 2: Once you have your nASTR, go to Kagla Finance dApp.
• Step 3: In the nASTR/ASTR pool, enter the liquidity you want to deposit and confirm.
  We strongly recommend that you deposit the same amount of ASTR/nASTR as the pool balance (visible in the right column).

• Step 4: In return, you will receive 2AGL tokens representing your LP tokens;
• Step 5: Scroll down to the stake section, enter the amount of 2AGL you want to stake and confirm.

Congratulations and enjoy this farming campaign!

In order to receive the incentive rewards of the campaign between Algem & Kagla Finance, you must stake your 2AGL tokens!

About Kagla

Kagla Finance the leading AMM (Automated Market Maker) and StableSwap protocol on Astar Network with a low trading fee (0.04%).

“StableSwap” a DEX that focuses on stablecoins. By concentrating on stablecoins, you can swap with low slippage and fee.

Website | Twitter |

About Algem

Algem 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.

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Algem, the leading liquidity hub in the Astar Network and Polkadot ecosystem, is pleased to announce Algem partnership with Starlay Finance & Kagla.

Through the partnership, Algem will collaborate for the integration of the nASTR token on the lending platform of Starlay Finance and the StableSwap protocol of Kagla.

With this collaboration, nASTR holders will be able to use and benefit from Starlay and Kagla’s technology to perform new defi and farming strategies with their nASTR tokens, such as depositing nASTRs on Starlay as collateral and then borrowing other assets.

Gradually bringing a maximum of integrations and new utilities to nASTR token is the first priority of Algem team. Starlay & Kagla are among the oldest projects in the Astar Network ecosystem and are therefore in essence key players with whom we need to collaborate for the growth of Astar.

About Starlay & Kagla

Starlay is a non-custodial lending protocol on Astar Network. Depositors can provide liquidity to earn interest as a stable passive income. Also, borrowers can leverage their assets without selling them out.

Kagla is a StableSwap protocol for Astar Network. Introducing veToken feature, users to be able to deposit a token then get veToken maximizing their reward up to x2.5.

Website | Twitter |

About Algem

Algem 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 to work.

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The Astar Summer Round 2. They have felt the chill of crypto winter engulf the Web3 space. Yet, they are optimistic about the journey ahead, as they have witnessed some of the best products built during the previous quieter times in Web3. People usually overestimate hypes and underestimate technical progress. With the current market conditions, solid projects only speed up the technical developments to persevere and come out on top in the next cycle. The highly focused technical teams are the ones that are positioned for success, & Astar is no exception.

WASM Smart Contract

In the last two months, they have delivered the first commercial WASM smart contract environment (Shiden) on Kusama, implemented dynamic dApp staking inflation, and cross consensus messaging XCM.

In addition, to the technical progress on Astar, their dApp ecosystem is also growing. They are super excited to have some key projects building on Astar.

Developments

Now, the exciting developments coming to Astar this Summer. To introduce the community to their new All-Stars on Astar, they are going to have a Twitter Space together with Algem, Sio2 Finance, Starfish, and Zenlink to prepare for Astar Summer this Thursday, please tune in to meet the teams.

Algem

The Algem a native liquid staking DeFi dApp on top of Astar Network offering new ways for ASTR users and holders to earn more. The Algem incentivises users to hold their tokens via the multi-level rewards system. Astar token holders can stake ASTR on Algem and make nASTR while earning the staking reward. nASTR can be used in several existing DeFi protocols like ArthSwap.

Website | Twitter |

Sio2 Finance

Sio2 Finance is the first multi VM lending platform on Astar. The strength of Astar is to support both Ethereum Virtual Machine and WebAssembly.

Website | Twitter |

Starfish Finance

Starfish is the DeFi × NFT-Fi headquarter on Astar Network in the Polkadot ecosystem. It is a one-stop DeFi journey with multi-token stablecoin swap, based on Balancer V2, cross-chain aggregation for crypto assets and NFTs, and unleashing liquidity potentials in NFTs.

Website | Twitter |

Zenlink

Zenlink is a cross chain DEX protocol for better composability on Polkadot. The Zenlink allows users to swap Polkadot ecosystem tokens. The Zenlink DEX Protocol includes WASM and EVM implementations, which are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.

Website | Twitter |

About Astar

Astar Network the Smart Contract Hub for WASM + EVM one of the top Parachains in the Polkadot ecosystem. Leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major Layer 1 Blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM. Offers the best technology solutions & financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers. To build on top of a secure, scalable, and interoperable blockchain.

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