Jack Mandin - Latest

• Risk-Free Uncollateralized Lending in Decentralized Markets: An Introduction to Flash Loans

  Staff Discussion Paper 2025-6 Jack Mandin

  A flash loan is a special type of uncollateralized loan with zero default risk. I document the use for flash loans across major blockchains that are Ethereum-Virtual-Machine-compatible. Flash loans expand access to liquidity, and highly sophisticated actors use them for many practical applications.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digital currencies and fintech, Financial markets JEL Code(s): G, G0, G1, G2