Understanding Flash Loans in DeFi

What are flash loans?
In the world of decentralized finance (DeFi), a flash loan is a type of collateralized loan that can be taken out and repaid in a single transaction; this allows for near-instantaneous borrowing and lending without having to go through a traditional financial institution.

Why use them?
Flash loans offer several advantages over traditional loans.
First, they are much faster and easier to take out – you don’t have to go through all the paperwork and waiting periods associated with banks or other lenders.
Second, they tend to be more affordable since there are no middlemen involved. And finally, because they are built on blockchain technology, they offer greater transparency than traditional financial transactions.

Question: How do you take a Flash Loan?

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