A flash loan was apparently used to make the Punk 1563 transaction possible, blockchain data shows. The seller listed their punk for 24,000 ETH, while another “buyer” contract took out a flash loan for the same amount from decentralized finance protocol Balancer, paid for the NFT, and received it in their account. The borrowed ether was transferred to the seller’s wallet, who promptly returned the amount to Balancer.

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Author: Nick Baker