Lets hack Flash Loans | Flash loan assignment/discussion

[Simo03]

Hi everyone. Is it just me that thinks flash loans are not profitable anymore considering the extreme high gas fees nowadays for uniswap transactions?

I learnt a lot during this course, a lot of useful information and even if I am not a programmer I am now committed to discover more within this space, just that the defi space moves so fast that I think the content of this course is a bit outdated, a lot of things have changed since the creation of the course. I am looking forward for a new updated version of the course, big thank you to the instructors for sharing with us all this alpha.

[Gry]

I also found it outdated, there are front runner bots aswell which will prevent anyone with human speed to profit from arbitrage opportunities. Or least it was so last time I researched. I hope an update is made with possibly new way how to profit with flash loans if there is one

[aldrin]

1. my first flash loan I made a profit of 90 usd:
   First Flash loan

2. Arbitrage loan with DAI and BAT:
   with 100 DAI i made 2.8. profit - gas fees = 2.6%
   Arbitrage DAI - BAT success
   Arbitrage DAI - BAT - did not profit

3. Arbitrage Opportunity DAI- MKR
   for some reason I was able to profit in both Uniswap factories I tried many times:
   Attempt 1 - 0.91 cents profit or 90%
   [Attempt 2] 0(https://kovan.etherscan.io/tx/0x090ef6990756641be64973436a3a81d0a1ef834775a3dcc850719f252f9b5e73) - 0.90 cents profit or 90%
   i also noticed that kETH faucet is backward where kETH is way bigger than wBTC so some numbers were not really in sync with price reality also 1 kETH = 75K MKR so my ratios were not the same as when @amadeobrands made his video.
   

   

I really like the solidity code and flash loans and want to understand more about the mathematical concepts and potential hacking models as well as the consequences of multiple risk creation and how to avoid a catastrophe like what is going on in DeFI with lot of off-chain issues that impact any crypto asset

[aldrin]

Also after completing the Arbitrage opportunity ; what should be let the Liquidity pools created in UNI v1 and v2 swaps? shouldn’t we remove the liquidity? that’s where I believe @amadeobrands missed to mention in the last video

[unofaradenza]

It can really be interesting! Thank you for sharing such information and giving people the opportunity to earn using the knowledge and skills of other people.

[Philip_Wong]

Hi guys,
I’m on the program a Basics Flash Loan part 2 of the video, and when I go to the AAVE docs webpage, the page is no longer available. and it seems like it is due to AAVE hade move from v2 to v3. So I’m wondering what provider address should I use now?
in addition, the video uses Koven testnet, which is depicted. So I’m wondeing would Gorelis testnet works the same?

Also I think this course needs an update.

[thecil]

Hey @Philip_Wong , hope you are great.

I have created a guide for that minor issue related to the kovan network, please give it a look

GUIDE - Faucets 2022

Guide - Faucets 2022 After the ethereum merge, Kovan and other networks has been deprecated, some of our solidity courses were recorded using Kovan, although that does not represent a problem, since so far we have many testnets for multiple blockchains. Still the Goerli testnet is available and working, here you will find some of faucets for this network. goerlifaucet by alchemy Notes: Requires an alchemy account. They also provide free nodes for testnets. goerlifaucet quicknode faucet …

Hope it helps you, let me know any question you might have for it.

Carlos Z

[Philip_Wong]

hey @thecil,
what about the provider address part? i couldn’t find the documentation or the up to date address for that anymore.
also where can I find the address to use if I want to try the code on the mainnet?

[thecil]

Try to use the V2 of aave market, they also have the contracts deployed on goerli.

https://docs.aave.com/developers/v/2.0/deployed-contracts/deployed-contracts

Carlos Z

[JuneGraves]

Hey, thanks for sharing this interesting information about Flash Loans and the potential gains they can generate. It’s great to see how the DeFi space is evolving and exploring different use cases for these loans. I’ll definitely check out the Github page and perform the assessments to learn more.

[leighgodby]

I’ve been diving into the world of flash loans, and it’s been quite a thrilling ride! It’s amazing how technology is reshaping the finance landscape. If anyone’s up for a discussion or sharing insights, count me in! But while we’re diving into these high-tech finance hacks, remember that financial stability is crucial too. Recently, I heard about this Mortgage Broker in Rotherham. They’re experts in managing finances and might come in handy in the real world.