Towards A First Step to Understand Flash Loan and Its Applications in DeFi Ecosystem

摘要: Flash Loan, as an emerging service in the decentralized finance ecosystem, allows users to request a non-collateral loan. While providing convenience, it also enables attackers launch malicious operations with large amount of asset that they do not have. Though there exist spot media reports attacks leverage lacks comprehensive understanding existing Loan services. In this work, we take first step study provided by three popular platforms. Specifically, illustrate interactions between providers and users. Then, design patterns identify transactions. Based on patterns, 76,303 transactions are determined. The evaluation results show services get more over time. At last, present four applications real-world examples propose two potential research directions.