Hello, Algebraists! Another week has passed, and now, we are happy to share with you this week’s progress. Let’s dive into it!
Development
1. Staking Overview
Here’s the currently available data regarding the number of the staking participants:
- 1 month — 107 positions
- 3 months — 48 positions
- 6 months — 60 positions
- 9 months — 45 positions
- 12 months — 215 positions
Total amount of tokens locked reaches 93 MILLION ALGB. The total number of stakers is 475, meaning that this week 57 more participants have joined us!
Soon, the staking statistics will be displayed differently. This way, it’ll be easier for you to track all the basic numbers.
2. Adaptive Fees Mechanics Improved
Just like we promised, we are improving our adaptive fees feature with a new algorithm. As a result, swaps with small amounts of crypto, which are mostly made on the platform, will require a lower platform commission. On the other hand, the commission will increase for transactions with large sums to compensate for the risks of liquidity providers.
We expect to finish the feature testing by October 28th. Stay tuned!
3. QuickSwap V3 Statistics
Let’s take a look at how the thighs are going in terms of our first ever V3 integration — QuickSwap’s statistics, which are available on the Analytics page.
At the moment, there are the following key parameter:
- QuickSwap’s Volume per 24 hours totals $5.171M;
- QuickSwap’s total amount of liquidity locked, TVL, reaches $22.85M.
Marketing
1. World Blockchain Summit
This week, on October 17th and 18th, our founders Vladimir and Alexandra attended World Blockchain Summit in Dubai to spread a word about the Algebra Protocol and Rubic!
The summit featured enterprise use-cases, government use-cases, inspirational keynotes, panel discussions, tech-talks, blockchain exhibitions, startup pitch competitions, and a host of networking opportunities. That was exciting.
2. The QuickSwap Polygon-based Fees Have Arrived
The first portion of our Polygon-based QuickSwap fees has arrived! Don’t hesitate to dive into the DeFi world together with the Algebra Staking 2.0, buy $ALGB, and multiply your crypto at staking.algebra.finance.
About Algebra
Algebra is a breakthrough AMM, and a concentrated liquidity protocol for decentralized exchanges, running on adaptive fees. Providing projects with more user-friendly, fresh solutions and implementing the most efficient technologies, it reforms the DeFi field as we know it.
