My approach is: before trying something new, first understand the basics.
In many attacks, attackers borrow large sums through flash loans to manipulate oracles that only look at the spot price of a single pool.
Flash loans can work without collateral because transactions are atomic: the entire transaction either succeeds or fails, so the borrowed funds can’t be taken away without being repaid.
The lending protocol Aave behind $AAVE supports flash loans.
Has anyone run into trouble in this area? Share your experiences to give everyone a heads-up.
#AAVE
In many attacks, attackers borrow large sums through flash loans to manipulate oracles that only look at the spot price of a single pool.
Flash loans can work without collateral because transactions are atomic: the entire transaction either succeeds or fails, so the borrowed funds can’t be taken away without being repaid.
The lending protocol Aave behind $AAVE supports flash loans.
Has anyone run into trouble in this area? Share your experiences to give everyone a heads-up.
#AAVE