What are flash loans in DeFi?

readforfun in #hive-167922 • 3 years ago

I need everyones definition.

#proofofbrain #palnet #ctp #vyb #cent #archon #cryptonews

3 years ago in #hive-167922 by readforfun

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scholaris.pob 3 years ago

DV'd for plagiarism. Source article is here: https://cointelegraph.com/explained/what-are-flash-loans-in-defi

The author's original content can be viewed by Ecency's edit history or Hive blocks.

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bobthebuilder2 3 years ago

I'd never heard of a flash loan... sounds interesting. I didn't quite understand what it was until half way through your post... I'm still not fully sure, but it sounds like someone finds a discrepancy between prices of a coin, creates a smart contract then does a flash loan to take advantage of the difference where the flash loan more or less verifies the difference and accepts or denies the loan based on whether the transaction will go through profitably or not... did I understand it right?

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readforfun 3 years ago

Yes that is exactly what it means😊

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hivewatchers 3 years ago

Source of plagiarism

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