/biz/ - Business & Finance

[Anonymous No.21778043]

Ummm wtf?? Is this still possible?

[Anonymous No.21778067]

Of course! Just give me your SSN, bank account, and routing number and I'll lend you $94k and send you etherium for 60% of market value!

[Anonymous No.21778088]

>>21778043
How to write this transaction? How much Solidity do you need to know and how long would the code be?

[Anonymous No.21778117]

>>21778043
fuck bros how will we ever compete?
Should I just get some AMPL and hope it rebases me upward?

[Anonymous No.21778123]

did this faggot just get lucky? how is there such a price difference for stable coins and enough liquidity to do all of this?

[Anonymous No.21778127]

>>21778043
CEO of Etherium Vitamin Buterik here, please delete now sirs.
Thank you.

[Anonymous No.21778128]

>>21778088
Isn't it just arbitrage?

[Anonymous No.21778176]

>>21778043
this fucking retarded xyzUSDC shit reminds me of when we started using imaginary numbers in math and now we are doing it with currency

This shit has to go to 0

[Anonymous No.21778191]

if you have to ask, you aren't smart enough to pull it off on your own. but you could still use the yearn yvaults for easy and consistent yield farming.

[Anonymous No.21778207]

>>21778043
I thought Chainlink prevented shit like this kek

It's a flash loan from dydx, which you can do as long as you return the USDC in the same transaction.

>Borrow 94k USDC
>Buy ton of ETH on Uniswap with USDC
>ETH liquidity goes down and price of ETH goes up
>Use new price of ETH to buy sUSD
>Send sUSD through Curve.fi and receive USDC in return
>Repay 94k USDC to dydx
>pocket the rest

[Anonymous No.21778215]

>>21777777

[Anonymous No.21778229]

>>21778128
No, you're taking advantage of reduced ETH liquidity altering the price of sUSD.

[Anonymous No.21778252]

>>21778229
I see

[Anonymous No.21778258]

>>21778128
yes

[Anonymous No.21778271]

>>21778043
yes, it's very possible to do this because he's taking advantage of the arbitrage (and fucking with this AMM on uniswap to his benefit)
not recommended to do unless you understand how and why this works

[Anonymous No.21778272]

used to have orderbook fuckery now there's liquidity pool fuckery

[Anonymous No.21778290]

>>21778176
b a s e d

[Anonymous No.21778293]

>>21778229
negative

[Anonymous No.21778304]

>>21778207
Holy fuck I need to start looking into flash loans. I thought I was clever using Aave to leverage my link long (up 3000 extra link) but this is incredible

[Anonymous No.21778392]

>>21778207
you can change the price of ETH with $100k? And then this new price via manipulated liquidity on one pair affects every pair on uniswap?

[Anonymous No.21778404]

>>21778043
Believe it or not, people here are laying low and making big fucking money

[Anonymous No.21778407]

>>21778258
Can u explain

[Anonymous No.21778413]

>>21778392
Yup, this is why ethereum will die.

[Anonymous No.21778485]

>>21778413
how did this guy calculate how his buys would affect price? and under what conditions is this even possible? was it when there was low liquidity or something when uniswap launched?

[Anonymous No.21778514]

>>21778485
Uniswap didn’t have liquidity for my link buy last week. And I was only trying to get $10k usd worth not $100k

[Anonymous No.21778550]

>>21778304
How many link did you start with to make the extra 3k?

[Anonymous No.21778586]

>>21778304
>I thought I was clever using Aave to leverage my link long
A lot of people do this and it contributed to LINKs rise IMO

[Anonymous No.21778610]

>>21778392
You're artificially increasing the price of ETH based on how they calculate prices on Uniswap

[Anonymous No.21778631]

>>21778404
Is there sample code of this transaction. How do you set it off, etherscan?

[Anonymous No.21778646]

>>21778043
Of course :^)

[Anonymous No.21778664]

>>21778550
12K link- took out a loan in USDT and bought more link with it. Increased loan on the way up and decreased during reversals. I’m very very careful not to over leverage. My health factor is currently at 8.

[Anonymous No.21778682]

How the fuck do u ask for a loan exactly?

[Anonymous No.21778716]

>>21778682
wear your best tie
go to the bank, ask to see the manager
firm handshake
practice firmness beforehand cuz this is key

[Anonymous No.21778718]

>>21778664
>my loan is very safe
> have random crypto loan
>random crypto loan for cash

top kek lmfao..you took a loan out to buy link dumbasss. nothing safe about it. kys

[Anonymous No.21778727]

>>21778043
This shouldn't be possible
>USDC = $1.00[USD]
>sUSD = $0.989459[USD]
>diff ~0.01
ETH is at $391.73
So if you swap 100k USDC you get 255.277 ETH. Now let's swap 255.277 ETH for an amount of sUSD
>Our ETH in USD = $100k, 1 USD = 0.989459 sUSD, so $100k USD = our Eth = 98,945.90 sUSD = 100k USDC
Am I missing something

[Anonymous No.21778787]

>>21778043

He capitalized on the inefficiences of a new market due to liquidity issues. As crypto grows this will be less doable from as liquidity pools will be larger. So the idea is if you can write a smart contract that can return the original amount borrowed from the flashloan then you it goes through otherwise the smart contract fails you just lose the fees in gas. Its all resolved through DEXes and smartcontracts so its perfect arbitrage that can't fail basically.

If someone can create a token that monetizes this protocol it would be insanely lucrative. Better than YFI even. I've been talking about this "Atomic Arbitrage" for months now but don't understand enough of the technical to do it myself, just the process.

Saturn network is the only exchange I have found doing it but they have no volume which is lame because if people understood the profit potential it would be ridiculous. Arbitrage is healthy for a normal market as it tightens the spread between bids and asks stabilizing asset value

[Anonymous No.21778815]

>>21778727

It was likely a momentary price difference that existed for under minutes, probably during a time of high volatility when everything was pumping or dumping.

[Anonymous No.21778816]

I don't even know how to use Aave to add to my link stack. I'm ngmi

[Anonymous No.21778843]

>>21778727
the buy order pumped the price on ETH to the moon on uniswap, which allowed him to get more sUSD than his initial capital. It's essentially a one man pump and dump wherein liquidity providers got BTFO.

[Anonymous No.21778880]

>>21778229
In other words arbitrage

[Anonymous No.21778931]

>>21778304
>I thought I was clever using Aave to leverage my link long (up 3000 extra link)
You weren't clever, you simply gambled. You could have achieved the same thing by just going to the casino.

[Anonymous No.21778955]

>>21778787
>So the idea is if you can write a smart contract that can return the original amount borrowed from the flashloan then you it goes through otherwise the smart contract fails you just lose the fees in gas. Its all resolved through DEXes and smartcontracts so its perfect arbitrage that can't fail basically.
is it possible to calculate what you will do to a uniswap price based on the liquidity of the two pools? where do i find more info about this?
and i dont even see a sUSD-USDC pair on uniswap...

[Anonymous No.21778956]

>>21778718
I’m up $48,000 usd without trading (no short term capital gains) and I have the other half of my link stack in another wallet. You sound too stupid to figure out proper risk management. My liquidation price is under $2.00

[Anonymous No.21778978]

>>21778931
>You could have achieved the same thing by just going to the casino.
With considerably worse odds. He was clever to avoid that, at least.

[Anonymous No.21779034]

>>21778931
id rather blow 400 on an altcoin then go to a casino, it's literally more practical/saner with better returns.

t wasted 1k at the casino

[Anonymous No.21779035]

>>21778931
No I didn’t gamble. It was a carefully calculated risk as was my initial investment. I have another 12k link in another wallet, 1000 link in a Yearn Vault, and 15k on Aave with another 1200 Link from the USDT loan you moron. And my initial investment was $8,000 USD so fuck off

[Anonymous No.21779059]

>>21778664
>health factor
Resource for info pertaining to your strat?

[Anonymous No.21779087]

>>21778955

It would be nice to get a link to the full tweet to read more of the specifics. I'm assuming its probably all done via Metamask and a bot is doing all the swapping in an automated fashion.

I would imagine its probably achievable to calculate how new liquidity affects the price of a pool. Its all cryptography or math so I don't see why not. Uniswap.info has a lot of information, I'm not sure where the formulas are that dictate how the pools price assets though. I'm sure its out there somewhere.

[Anonymous No.21779097]

>>21778931
>T.retard boomer

[Anonymous No.21779109]

>>21779035
How well is the yLINK vault performing. I've been meaning to get that started but was afraid of protocol failure.

[Anonymous No.21779144]

>>21779059
Just go on aave.com, jebus

[Anonymous No.21779176]

>>21778978 She not he. I am female. I spent at least 1000 hours researching before I put in $8,000 USD in link which took me a long time to save. I understand the risks using leverage. I did the math. Thank you for looking out for my financial well-being but I feel comfortable with this type of risk

[Anonymous No.21779177]

>>21778682
You need to do a flash loan transaction with dydx. Since you return it in the same transaction, there is no interest charged. So you momentarily have access to a shit ton of momentarily, literally for 0 seconds.

[Anonymous No.21779192]

>>21778682
money*

[Anonymous No.21779215]

>>21779109
I actually just started that today but I will report back. I spent a long time reading up on potential protocol risks and I decided i was willing to loose 1000 Link max. The APY is like 60% which is nuts

[Anonymous No.21779227]

>>21778787
>If someone can create a token that monetizes this protocol it would be insanely lucrative.
They have and they keep the profits for themselves, why would the crypto community support fucking up DeFi?

>>21778815
>under minutes
Under 1 second

[Anonymous No.21779282]

>>21779177
i work in milliseconds checked

[Anonymous No.21779287]

It's arbitraging by pumping and dumping liquidity. Pretty common, regulated stock exchanges have market makers and time outs in place for these cases.

[Anonymous No.21779289]

>>21779059
Aave has a formula for this. You can borrow 0.65 of collateral and liquidation is 0.70. It’s pretty straightforward. You absolutely do not want to over leverage. Spend an hour fooling around with it just so you know what your options are

[Anonymous No.21779291]

>>21778955
Check the pic where it says wETH, that's where the uniswap transaction occured.

I doubt they're gonna publish the profitability of fucking over their smart contract but you can check pool info at uniswap.info

[Anonymous No.21779307]

>>21778787
I do know how to do this, contract to contract work. But you'll have to explain a lot to me as I don't understand shit on atomic swaps. Email, [e-mail]

[Anonymous No.21779313]

>>21779059
aave.com, if you dont want to calculate the liquidation price of 70% you can put your address into debank.com

[Anonymous No.21779329]

>>21779087
Sounds like you're new to crypto or don't have a grasp on smart contracts / flash loans.

[Anonymous No.21779342]

>>21779176
>I am female.
sell signal

[Anonymous No.21779352]

>>21779313
>>21779289
>>21779144
I was just curious, I didn't even know what Aave is... as someone who loves economics, this is fascinating. Thanks for the info.

[Anonymous No.21779363]

>>21779177
Would you know the transaction prices ahead of time or is it a market buy? Sorry if it’s a stupid question

[Anonymous No.21779381]

>>21779313
Good to know thanks for this>>21779342
Oh fuck o

[Anonymous No.21779430]

>>21779342
Oh fuck off ive been here the whole time dumbass. I’ve been spoon feeding this board for longer than you have been here

[Anonymous No.21779435]

>>21779352
Oh boy you better fall into the DeFi hole then. Look into Yearn Finance, Synthetix and Balancer as well

[Anonymous No.21779472]

>>21779363
You probably have to calculate it manually judging by the liquidity in uniswap and knowing how uniswap calculates their prices. Personally I'd test it all out on Ropstein first before spending 3 ETH on a transaction.

[Anonymous No.21779481]

>>21779176
Wow! 1,000 hours! What a very specific and long amount of time to research. You must be very smart!

[Anonymous No.21779491]

>>21779176
Lolol this isn't a woman.

[Anonymous No.21779497]

>>21779435
Better if he doesn't look into those lol

[Anonymous No.21779498]

>>21779435
This. There is a lot of money to be made before the loopholes get sorted out

[Anonymous No.21779508]

>>21779472
Thanks for this

[Anonymous No.21779555]

>>21779491
>i am female (male)

[Anonymous No.21779585]

>>21779481
>>21779491
Shoo shoo there are other threads for this

[Anonymous No.21779695]

None of you retards heard of Furucombo ?

[Anonymous No.21779766]

>>21779329

Enlighten me then which part do I have incorrect. What I explained has been done already outside of OPs example. You can code a bot to identify arbitrage opportunities and then use flashloans to capitalize on the entire opportunity as it will give the liquidity necessary.

Its its all on DEXes and the entire transaction goes through smart contracts then it can be written to stop the execution if you can't pay back the flashloan when it the final step resolves.

I.E. You're bot identifies arbitrage through 3 different assets on 2 different DEXes. Lets say its a 4 steps and requires 4 contracts to execute if the arbitrage opportunity fails then it will automatically cancel and you lose the gas.

If it all resolves in the same block its legit. It seems like you don't get how they work.

https://cryptopotato.com/defi-flashloands-how-someone-made-16000-with-zero-investment/

"This is exactly what one user did, and he made $16,182 within seconds, using absolutely no investment but some pocket change for the gas fees.

Seen in block 10566089, what the user did was the following.

First, he borrowed 2,048,000 USDCT using dYdX’s flash loan. Remember, because it’s a flash loan, he doesn’t have to post any collateral as long as he repays the amount within the same block.

He then swapped this amount for 2,028,367 DAI on Curve y pool. After that, he swapped the DAI for 2,064,182 USDC on Curve’s SUSD pool, and lastly, he paid back the 2,048,000 USDC to dYdX, all within the same block.

All of this is possible because of the different stablecoin rate at the various lending protocols. And while 1% difference might not seem like a lot, when one is able to borrow high amounts and arbitrage this difference, the profits can be substantial."

[Anonymous No.21779783]

>>21779695
>Furucombo
Welp I know what I'm doing tomorrow.

[Anonymous No.21779804]

>>21779766

https://etherscan.io/tx/0xf7498a2546c3d70f49d83a2a5476fd9dcb6518100b2a731294d0d7b9f79f754a

Heres the etherscan of the arbitrage

[Anonymous No.21779816]

>>21779695
Have you used this? What are other use cases besides arbitrage?

[Anonymous No.21779821]

>>21779804
>>21779766

Read this

>>21779307

[Anonymous No.21779830]

>>21779766
A bot is not doing the swapping, the entire transaction happened all at once.

[Anonymous No.21779857]

>>21779215

Ideally Nexus mutual will get liquidity in their YFI insurance pools so you can hedge against smart contract/protocol failure. Once that is available I'd got almost all in. Insane returns please do make a thread in the near future I also willing to risk about 1000 myself so I might just go for it.

[Anonymous No.21779879]

>>21779830

I'm just saying you could automate a bot to identify those opportunities and have it do the arbitrage for you. There was someone else who did just that but yea it works because everything resolves in the same block

[Anonymous No.21779882]

>>21779177
Is any uses for flash loans other than what OP posted?

[Anonymous No.21779903]

>>21778123
You have to literally have constant tabs open watching volume and price to snipe this kind of arbitrage. The real arbitrage is the difference in ETH price across two stable coins, so you need to take the highest volume cryptos (BTC/XRP/ETH/LINK) and look for price differences across a list of trustworth stable coins, when you see a big difference you then need to very quickly find a liquidity path to get into one stable coin, into the crypto, and back into the other stable coin THEN a way back to the original stable coin. It's a lot of work and there are definitely people doing this as a full time job

[Anonymous No.21779906]

>>21779830
The arbitrage opportunities in stable coins is small and disappears so quickly that you'd need complete automation most likely to profit in time consistently.

[Anonymous No.21779923]

>>21779903

>>21779879

[Anonymous No.21779935]

>>21779879
A misunderstanding then.
I just looked at that transaction and the address that does those trades and that bot is a great idea for whoever wrote it.

[Anonymous No.21779940]

>>21779695
what did they mean by this? what is happening in this image?
>start with 740 DAI
>use it to get 10,000 DAI
>swap it 10740 DAI for 11037 USDC
>swap 11017 USDC for 10009 DAI
>pay back 10009 for the loan
did i get that right? would I end the transaction with 740 DAI and 20 USDC back in my wallet after all of that? and all i have to pay is gas for one transaction?

[Anonymous No.21779956]

>>21779882
xio.network
I have no idea what this is supposed to do.
"Flash staking"

[Anonymous No.21779964]

>>21779903
>>21779906
So some of this was luck after many many failed attempts I’m guessing?

[Anonymous No.21779970]

>>21779940
>20 USDC
Estimated

[Anonymous No.21779985]

>>21779935

No problem. Its fucking genius and there is still tons of money to be made in this area while crypto is still the Wild West so to speak. Arbitrage will always be a thing but as the space grows it will be less profitable is all. I wish I had the understanding on how to do it. Idk where to start exactly or how long it would take to learn

[Anonymous No.21780008]

>>21779857
I saw that about the insurance through Nexus. Quant Stamp audited it as well. You should read the audit. Also be warned the gas was insane.

[Anonymous No.21780011]

>>21779940

It appears as though that is the case. From my understand the opportunity can disappear before the blocks resolve though and then you lose just the gas paid.

[Anonymous No.21780042]

>>21779940
>and all i have to pay is gas for one transaction?
Topkek

[Anonymous No.21780062]

>>21779964

Possibly. Again if you have an automated way to calculate the arbitrage through multiple assets then its hard to fail. DAI-USDC-TETHER-ETH-DAI or something along those lines for example. Then a bot to trigger the trades after identifying the potential arbitrage. So much fucking money you could make literally millions since flashloans require no collateral. That being said if your automated system fails you have to pay the gas still. Lol

[Anonymous No.21780069]

>>21779985
see >>21779695

[Anonymous No.21780073]

>>21780042
>>21780011

Well gas for each contract/swap but yea just gas paid is all.

[Anonymous No.21780095]

>>21779940
what site is this

[Anonymous No.21780096]

>>21780008
Hmm that I'll check out thanks

[Anonymous No.21780111]

>>21780069
>Furucombo

Oh shit thanks. I'm about to check this out

[Anonymous No.21780125]

>>21779940
enjoy paying $25 for the gas fees retard

[Anonymous No.21780225]

I'm interested in getting walked through the process if any anons have successful achieved this irl

[Anonymous No.21780264]

>>21778207
Chainlink doesnt work

[Anonymous No.21780936]

Does anyone know where Kyber gets their liquidity from?

[Anonymous No.21781235]

im reading about making one of these bots and im starting to think im 6 months too late

is it even worth it?

[Anonymous No.21781353]

>>21779766
Bless you anon for this. New to crypto and never used eth/uniswap, but coded for 2 decades. You could implement this using eth web3 Node.js package, and probably there is an easy way to get a price feed to scan for arbitrage.

The clever way to run this would be let other people use your bot so they pay for the gas and to have the bot send you a percentage of their gains each time they succeed.

[Anonymous No.21781555]

>>21781353

I just googled price scan feeds for the DEXes available on Furucombo and can't find anything. This is frustrating because I understand the process entirely and could dictate what I need done to someone who understand how to code but have no sense of the technicals.

>The clever way to run this would be let other people use your bot so they pay for the gas and to have the bot send you a percentage of their gains each time they succeed.

Yes that is brilliant. Some kind of fee only on their profit. How difficult would it be to code a bot that scans price feeds, finds the opportunity and then executes the flash loan arbitrage itself?

There is so much fucking money in these opportunities its unreal and they are never ending. You are just limited to all the DEXes basically for the potential trades so your bot would only scan prices from them.

[Anonymous No.21781784]

>>21778043
how exactly does he borrow 94 fucking k?

[Anonymous No.21782145]

>>21781555

This is a start for the price feed. This is only for uniswap, the other exchange would have its own system. If there is no way to get a price feed, then you would have to read from the blockchain directly which would be more tedious.

https://thegraph.com/explorer/subgraph/uniswap/uniswap-v2
Put this into the query window on the left side and hit the purple "execute" button (got the pair from some other example, it's DAI/Wrapped ETH)
{
pair(id: "0xa478c2975ab1ea89e8196811f51a7b7ade33eb11"){
token0 {
symbol
name
derivedETH
}
token1 {
symbol
name
derivedETH
}
token0Price
token1Price
}
}

[Anonymous No.21782219]

>>21779430
Hi Lien

[Anonymous No.21782407]

>>21782145
Is there anywhere that you can see details of all the flash loans that have successfully executed?

[Anonymous No.21782493]

>>21782407
Yes I assume you would scan new (or old) blocks and look through each transaction for a loan signature. Beyond that, would have to read lots of docs to understand the ins and outs.

I assume that a loan is represented as a specific type of smartcontract

[Anonymous No.21782850]

>>21781555
Anon I must sleep, and the thread will be archived at some point...

1. Get a price feed for your target DEX exchanges. This will probably be the biggest pain of the entire project because you have to look for their API or SDK and convert their data feed into something that your code can read. It will give you data in JSON format, possibly through something called WebSocket.

2. Compare the coin pairings between the two DEX prices each time you get new data from the price feeds. If favorable pairing, initiate a transaction. This is the easiest step.

3. Generate an ether transaction. Also a potential pain in the ass, because you have to figure out how to interact with SmartContracts. Totally doable, just have to read lots of docs.

I think you can do this purely with javascript which is forgiving and user friendly. I know Ethereum has a javascript SDK called web3.js. WebSockets/JSON are standards. All of the info and documentation is out there! Godspeed anon

[Anonymous No.21782989]

>>21782493
Reason I ask is that it would be interesting to collect all the data and then determine whether any AMM platforms are getting hit harder than the others. Right now the effects of arbitrage are minimised by exchange and gas fees, but if/when it's more frictionless, we might see whole AMMs getting drained. I'm particularly interested in the Bancor AMM 'ratchet' model that might end up drawing liquidity from other platforms, or might be sensitive to a growth-then-catastrophe attack vector.

[Anonymous No.21783329]

what else can these flash loans be used for? i remember seeing a headline about a flash loan attack a couple months ago but never clicked on it

[Anonymous No.21784093]

>>21782850
Dude thanks I'll look into this. I was setting up a Meta Mask strictly for arbitrage. I have a lot of time to learn because I trade futures for income anyway. I'm on /biz like 5 hours a day so if you tinker around with this and have future success please make a thread!