Trading Bot Uses $200M Flash Loan To Conduct Deals, Ends Up With Paltry $3 Profit
Portfolio Pulse from Murtuza Merchant
A trading bot recently performed a complex series of transactions on the Ethereum blockchain, involving a $200 million flash loan in DAI from MakerDAO. The bot deposited funds on Aave, borrowed $2,300 in Wrapped Ether (WETH), and completed an arbitrage cycle, resulting in a net profit of only $3.24.
June 14, 2023 | 5:12 pm
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NEUTRAL IMPACT
A trading bot deposited funds on Aave after borrowing $200 million in DAI from MakerDAO, resulting in a net profit of $3.24.
The trading bot's use of Aave in its transactions highlights the platform's utility in decentralized finance. However, the small profit generated from the transactions is unlikely to have a significant short-term impact on AAVEUSD.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
A trading bot borrowed $200 million in DAI from MakerDAO for a series of transactions, resulting in a net profit of $3.24.
The trading bot's use of DAI in its transactions demonstrates the stablecoin's role in decentralized finance. However, the small profit generated from the transactions is unlikely to have a significant short-term impact on DAIUSD.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
A trading bot used the Ethereum blockchain for a series of transactions involving a $200 million flash loan in DAI, resulting in a net profit of $3.24.
The trading bot's use of the Ethereum blockchain for its transactions highlights the network's utility in decentralized finance. However, the small profit generated from the transactions is unlikely to have a significant short-term impact on ETHUSD.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50