The Pros and Cons of Flash Loans in Defi
Too Long; Didn't Read
Flash Loans are un-collateralized loans that are approved, executed/used & repaid all within the same transaction. This technology enables users to borrow millions of dollars without needing to provide collateral or wait for loan approval. If the user can’t repay the loan before the transaction is completed, a smart contract cancels the transaction and returns the money to the lender.