One thing I learned today:
I am pretty confused with flash loans and how they work so i decided to try and learn about them and how they could be used:
A flash loan allows someone to borrow un-collateralized cryptocurrencies but repayment has to happen within the same smart contract transaction.
If the person fails to repay the loan within the same smart contract then all the funds that were loaned are reverted back to its place of origin. In this case it would be a lending pool opposed to a bank in tradfi.
Some use cases include: Arbitrage and preference of loaned asset. For example, if I was loaned DAI at 20% APR but then found a different dex offering USDC at 10% then I would do a flash loan to switch my asset and get a better loan term.
Affirmations:
I will run the NYC marathon under 4:00:00 and exceed my fundraising goal
I will grow my blog by 10% every month using web3 tools
Gratitude:
Grateful for failure
Miracle Morning:
Read: yes
Meditate: no
Workout: yes (run)
make
my bed: yes
Affirmations: yes
Gratitude: yes
