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3156: Final

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Moves EIP-3156 to final.
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Alberto Cuesta Cañada 2021-02-24 09:25:05 +00:00 committed by GitHub
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EIPS/eip-3156.md
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@ -3,8 +3,7 @@ eip: 3156
title: Flash Loans
author: Alberto Cuesta Cañada (@albertocuestacanada), Fiona Kobayashi (@fifikobayashi), fubuloubu (@fubuloubu), Austin Williams (@onewayfunction)
discussions-to: https://ethereum-magicians.org/t/erc-3156-flash-loans-review-discussion/5077
status: Last Call
review-period-end: 2021-02-16
status: Final
type: Standards Track
category: ERC
created: 2020-11-15
@ -14,6 +13,10 @@ created: 2020-11-15
This ERC provides standard interfaces and processes for single-asset flash loans.
## Abstract
A flash loan is a smart contract transaction in which a lender smart contract lends assets to a borrower smart contract with the condition that the assets are returned, plus an optional fee, before the end of the transaction. This ERC specifies interfaces for lenders to accept flash loan requests, and for borrowers to take temporary control of the transaction within the lender execution. The process for the safe execution of flash loans is also specified.
## Motivation
Flash loans allow smart contracts to lend an amount of tokens without a requirement for collateral, with the condition that they must be returned within the same transaction.