What is a flash loan? - Upgoat - "where a goat can be a goat"

What is a flash loan?
submitted by v0atmage to Crypto 2.8 yearsJun 30, 2022 21:48:55 ago (+5/-2) (www.coindesk.com)
https://www.coindesk.com/learn/2021/02/17/what-is-a-flash-loan/

TLDR: It's a contract of contracts, one of which is an uncollaterized loan typically followed by a sequence of trades which all must occur atomically (in one transaction) on the blockchain.

More technical breakdown from aave, the leading choice for flash loans:
https://docs.aave.com/faq/

8 comments block

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[ - ] Spaceman84 2 points 2.8 yearsJun 30, 2022 22:11:15 ago (+2/-0)

Jewry

[ - ] SecretHitler 2 points 2.8 yearsJun 30, 2022 21:53:25 ago (+2/-0)

This is the most cyberpunk thing I've ever seen become real. Insane.

[ - ] xmasskull 0 points 2.8 yearsJun 30, 2022 22:46:17 ago (+0/-0)

Innovative ways joos hide the ways (((they))) steal your cash.

[ + ] v0atmage

[ - ] v0atmage [op] 3 points 2.8 yearsJun 30, 2022 22:49:04 ago (+3/-0)

Smooth brain take. The technology involved to make this happen is nothing short of a miracle.

[ - ] lord_nougat 0 points 2.8 yearsJun 30, 2022 22:20:05 ago (+0/-0)