Flash loans are a type of loan that allows developers to borrow any available assets without putting up collateral upfront, as long as the borrowed assets return to the protocol within one block transaction. They are often used in DeFi for executing complex and time-sensitive financial transactions, such as trading on a DEX or arbitraging between different DeFi protocols.
However, because of the short period of availability, there is a high level of risk involved. To execute a flash loan, users need to build a contract that requests the loan and then execute the steps and repay the loan plus interest and/or fees within the same transaction.
Flash loans are an advanced feature that requires technical expertise to execute.