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by avinashv
1521 days ago
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This is possible because of a concept called a flash loan. Using a smart contract, you can borrow (without collateral) and the smart contract would reverse the transaction if the money is not repaid. There is a cost to borrowing, but in this case it obviously made sense. Cryptocurrency arbitrage bots were some of the first implementations of flash loans that I know of. https://www.coindesk.com/learn/2021/02/17/what-is-a-flash-lo... |
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