Hi! We are pleased to present you with the traditional Weekly Report on the Algebra DEX! Time moves fast, and it’s the middle of summer already — so, we’re trying our best not to keep up the good work and develop in other directions. Would you like to know which ones? Well, let’s see in this very article!
Development
1. Testing Out the Improved Farming Code
The results of our code audit showed nice results, but they say there’s no limit to perfection! We have updated some parts of our smart contracts, and we are currently in the testing phase of the implemented updates.
2. The Impermanent Loss Decrease Studies
At the moment, we are analyzing the difference between Uniswap and Algebra’s coverage of Impermanent Losses. A comparative analysis will be ready in a few weeks, starting from now. What do we want to see? Without any hesitation, we want to prove how much more efficient Algebra, with its latest technology and innovative solutions to existing DeFi problems, is than Uniswap. Don’t miss the report anytime soon!
3. NFT Icons for Farming Positions are in Process
Those who participated in our farming incentives know, that there are no distinguishing features for users’ positions. Each NFT is assigned a number, and that number is highlighted with a colored circle. We plan to change this and introduce individual cards for each user! The pictures will be a perfect representation of Algebra’s style. Soon, you’ll be able to create a position and have a unique pic as proof of your position ownership.
Marketing
1. AMA Session with QuickSwap
In honor of our grand partnership with QuickSwap, as well as creating the most efficient V3 Concentrated Liquidity model you’ve ever seen, we decided to organize a joint AMA! During the event, representatives from both sides, including Vladimir, Adam, Nicole, and Rock, answered all of the community’s questions. We also clarified some things about the partnership, shed a little light on timelines, and more.
2. Getting Ready for the Next Official Announcement
A lot of you have been wondering, what’s coming next. At this point, we are busy creating some of the most pleasurable scenarios for both our community and us. Get ready to choose the next steps of our development — we’ll share more details in a couple of weeks.
3. AMA for the Russian Polygon Community Was Successfully Launched
This week was fruitful for AMAs! One of the biggest crypto media platforms in Russia, CRYPTUS Media, has arranged the AMA with us in the Russian Polygon Community this Wednesday! During the translation, we have discussed many topics, starting from creating an idea to develop a quality product, to the reason why we chose the Polygon Network as our basic blockchain, and even more.
We have also set up a little contest for the community — the three winners with the best and most thought-provoking questions already received their prizes!
Thus, that’s all we can reveal this week. We are planning to get you all involved in the process of choosing a further direction of our development, both as a project and as a team, soon. Get ready for that, and wait for even more exciting news from us!
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