Trebuchet is a simple implementation of a flashloan on Aave. Setup in Remix IDE on the Kovan test-network it will flash-borrow a million ($1'000'000) DAI.
Flashloans are a very interesting piece of new tech totally unique to DeFi, there is no equivalent in traditional finance. They offer huge leverage with a very low cost barrier, in that sense, they are similar to the medieval technology, the trebuchet. There are a few use cases for flashloans. Famously, they have been used to expose weaknesses in other protocols but they have less aggressive use cases, such as, leverage for arbitrage opportunities & self-liquidation (repaying a DeFi loan to release collateral) Currently, flashloans are fairly inaccessible to those without any coding knowledge. This project seeks to lower that barrier to entry, at least for testing purposes.
How it's made
This project uses Solidity, Remix, Aave. The smart contracts are written in Solidity, guided by the documentation on Aave. The contracts are deployed to the Kovan test-network using the online IDE, Remix. I would have liked to have implemented this on v3, this is something I will continue with.