Lets hack Flash Loans | Flash loan assignment/discussion

ponchooo · June 10, 2020, 10:58am

If you borrow DAI I think you may need to pay some fees in DAI as well but my understanding could be wrong. I’m not sure how many other protocols are around that have a simple drag and drop GUI…

https://yieldhero.app/ is a cool site to check out that has some options for you to play with that require no real programming?

ponchooo · June 10, 2020, 11:00am

The benefits of a flash loan are better suited to decentralised exchanges IMO

crypto-pt · June 10, 2020, 11:33am

Hi, i dont realy understand how to create those arbitrgae opportunitys in real life.
It isnt possible to just create two exchanges myself i guess
But how do i do that without creating them by myself??
Greetings!!!

amadeobrands · June 10, 2020, 1:01pm

No that is not possible it can only be in one block.

amadeobrands · June 10, 2020, 1:09pm

nastyatimosha:

nice… finally an answer… Amadeo, this is not free course as you said… maybe you dont know but the membership for the academy has a cost of $1500… and for the things that Ivan speaks in his videos, is not even 1/4… i am thinking to post some screens and things in his videos of youtube , to people see what they can expect before paying 1500…

anyway… as you wrote here, i hope that you could come out with something helpful… ASAP

i think you can provide us with a full, correct code and explanation of the main things… which we as TRADERS (not programmers), could easily understand and to just replace the main data as wallet addresses, Asset pairs, pools, etc…

what are those GUI interfaces that you say? could you provide some examples? i never saw anyone and i dont have any idea of them…

I repeat you once again… ARBITRAGE is a pure trading concept… 95% of people who could be interested on this, are traders… who never wrote a line of code… this is not a soo difficult theme but we only need that you dont play around and give us exactly what we need to do the arbitrage… same as the brazilian guy did in the video… 5 minutes and he got it done… without errors and problems… that is what we need…

Thank you for your response.
I was not aware I just provide content and love to spread DeFi knowledge.
Today will see how I can improve to code and guide so it is a bit easier to follow.

amadeobrands · June 10, 2020, 1:11pm

Thank you I really put a lot of effort into the course but all feedback is welcome

MoneyPrinterGoBrrr · June 10, 2020, 5:29pm

I think the marketing went a bit too far. The course is good, I learned a lot but I admit I was discouraged to learn at the end of the course that arbitrage space is already crowded and has been this way for years.

I think the extra reading material is the hidden gem in this course. It helps me go deeper into the subjects and find the good stuff without having to google and read through a ton of blog posts before finally finding answers.

CaioVicentino · June 10, 2020, 5:46pm

Have you tried to pool funds before to the uniswap v1 and v2?

You have to take crypto from the faucet of aave, and them pool them on the clones on uniswap, after it, you can call the arbitrage.

to use it on mainnet we just have to change the addresses of the real tokens…

i’m also learing, don’t quote on me if i’m wrong, that is how i understood.

Thaddeus19 · June 10, 2020, 6:39pm

@nastyatimosha According to what I have read, you need ether in your wallet to pay for the gas when sending the smartcontract to the blockchain and executing the flash loan.
Remember if the flash loan fails and you cannot pay the loan + fees, it is reversed and the remaining gas is refund to the caller

DeCryptolorian · June 10, 2020, 7:35pm

Unbelievable course Amadeo. It just keeps getting better and better. I am looking forward to DeFi 3.0! I learned a lot. I will think on your question and keep researching, right now my head is exploding and I need to process it all. Absolutely amazing.

CaioVicentino · June 11, 2020, 2:27am

i felt the same! looking forward for Defi 301!

Would like to see more integrations with mainnet…

let me know if there is anyone trying to develop something on top of this course

crypto-pt · June 11, 2020, 10:19am

Hey
I absolutely would like to develop something in the Defi Space too
I am learning more and more about solidity.
Would be amazing to connect to some people here!

filip · June 16, 2020, 1:21pm

Hi,

Thanks for sharing your feedback, we truly appreciate it. I’m sorry to hear that the course did not match your expectations. All knowledge needed to create flash loans are in the Academy and in this course. We provide people with the skills to build in this industry. In the end, it’s up to you as a student to then use that knowledge.

We are not a get rich quick scheme in any way. There is no one click flash loan that will give you money without effort. That’s not how the market works unfortunately.

I looked into your account details and so far you haven’t paid anything for the courses. You are still on your trial, which expired today. So you got this one completely for free! I hope you will enroll again in the future and that I will see you in other courses.

ivan · June 11, 2020, 12:31pm

Nice to hear man!! Defi 301 coming Im sure later this year

ivan · June 11, 2020, 12:32pm

This is the place to be for meeting great people in Defi
Hope you are enjoying the knowledge in the academy!

ivan · June 11, 2020, 12:33pm

Thanks a lot for the kind words, Defi is indeed booming and it’s very important to study everything about this space right now!

DeCryptolorian · June 11, 2020, 12:58pm

Of course, I am always honest in my feedback (which my work sometimes hates me for)!

I think it is important to note, the information given to us is invaluable. People new to the space such as myself are often lost when looking at these concepts on our own. In fact, I wouldn’t even know they existed without watching these videos. Amadeo has provided a detailed look at many of the emerging concepts in the space with some valuable information. From my perspective this course is fantastic, giving a basic/intermediate understanding of the concepts that can grow from there. I am not sure we/I would want Amadeo to give a full step by step account of how to do something in DeFi, because if it didn’t work out financially, he might get the blame. What he has given us is much better - knowledge to help make informed decisions.

Dustin

amadeobrands · June 11, 2020, 3:06pm

Thanks all for your comments and I do this with passion and just deliver the content and trying to spread DeFi knowledge. This code is open source for the world for everyone to use I made video’s and posted them together with Robert on the academy to try and reach more people around the world.

See here the changes made there where indeed some errors.
4 things Ive changed:

is FlashLoanReceiverBase(address(0x506B0B2CF20FAA8f38a4E2B524EE43e1f4458Cc5)) was missing in the main first example
BAT_ADDRESS was wrong (was MKR in the place)
The exchange order (factoryA / factoryB) was in the incorrect order. Now the git example is profit since the beggining, you dont need to reoorder
require(daiBought > totalDebt, “Did not profit”);
you should add fees before checking the profit
I had to unbalance the uniswap exchanges (just bought 5000 DAIS in the exchange A)

We have committed the changes and have closed the issue on Github: https://github.com/Robsonsjre/FlashloanUsecases/issues/7

Arbitrage opportunity is there again
Take note that all can play around in this Flash Loan Play ground.

amadeobrands · June 11, 2020, 3:22pm

@DeCryptolorian @crypto-pt and All we where working on a collateral swap see:

github.com

Robsonsjre/FlashloanUsecases/blob/master/contracts/collateralSwap/collateralswap.sol

pragma solidity ^0.5.16;

import "../interfaces/IMaker.sol";
import "../interfaces/IERC20.sol";
import "../constants/ConstantAddresses.sol";


//  ETH-A in  bytes32 0x4554482d41000000000000000000000000000000000000000000000000000000
//  BAT-A in bytes32 0x4241542d41000000000000000000000000000000000000000000000000000000

contract Collateralswap is ConstantAddresses {
  bytes32 ethA = 0x4554482d41000000000000000000000000000000000000000000000000000000;
  bytes32 batA = 0x4241542d41000000000000000000000000000000000000000000000000000000;

  IERC20 wETH = IERC20(WETH_ADDRESS);
  IERC20 DAI = IERC20(DAI_ADDRESS);
  GemJoinLike ethJoin = GemJoinLike(ETH_JOIN_ADDRESS);
  GemJoinLike daiJoin = GemJoinLike(DAI_JOIN_ADDRESS);
  VatLike Vat = VatLike(VAT_ADDRESS);
  ManagerLike cdpmanager = ManagerLike(MANAGER_ADDRESS);

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This concept I took from DeFi safer https://defisaver.com/
You can then use Flash Loans to swap your underlying collateral.
Feel free to commit or add code.

Besides this I’m looking into Balancer and the opium protocol to create some new financial instruments. I would recommend reading: https://medium.com/opium-network/introducing-first-zepo-pre-market-for-bal-token-is-live-42c8e8dcd1dc

Basically creating pools then create volume using Flash Loans is very interesting.

Thaddeus19 · June 11, 2020, 5:51pm

Some other testnet similar to Aave to use since it is giving an error since yesterday and you cannot take DAI, BAT, or MAKER to practice