Flash Loans provide a very easy way to gain access to capital for a single transaction. This extra access to capital can be used for arbitrage opportunities, liqudations, etc. Currently, there is no easy way to get Flash Loans in Flow. We have come up with an interface and specification that can be used by DEXs already present on Flow to provide secure Flash Loans to their users, which will end up with them earning extra fees above the swap fees.
We also present an example contract that can be used by developers in Flow ecosystem to easily get Flash Loans for their applications.
For this hackathon, we have demonstrated how IncrementFi can extend their SwapPair.cdc contracts to support Flash Loans.
This approach can easily be extended to provide flash Swaps as well.
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