Fantasm
  • About Fantastic Protocol
  • Synthetic Tokens
  • Fantastic Roadmap
  • Cronastic - Cronos
    • GAEA
      • GAEA Token Utility
      • Allocation
      • Liquidity mining (Farms)
      • Staking and Locking
    • Contracts
  • Fantastic - Avalanche
    • SNOWY
      • SNOWY Token Utility
      • Allocation
      • Emission
      • Liquidity mining (Farms)
      • Staking and Locking
    • Contracts
  • Fantasm - Fantom
    • FXM
      • FXM Token Utility
      • Allocation
      • Emission
      • Liquidity mining (Farms)
      • Staking and Locking
    • Contracts
  • Mechanisms
    • Collateral Ratio
    • Minting and Redeeming
    • Price Stability
    • Flash Loan Protection
    • Protocol Owned Liquidity
    • Zap Feature
  • Other
    • Audit & Security
      • Audit
      • Bug Bounty Program
    • FAQ section
    • Socials
    • Getting started on Fantom
      • Setup Metamask
      • Bridge to Fantom
      • Faucet
    • Brand Assets
      • Fantasm Brand Assets
      • Snowy Brand Assets
  • v1 - retired
    • FSM
    • v1 Contracts
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  1. Mechanisms

Flash Loan Protection

Fantastic Protocol is secure again flashloan types of attacks due to a simple yet absolutely effective 2-step minting and redemption mechanism. When a user wants to mint or redeem a Synthetic Token, 2 transactions (2 steps) need to be performed: 2-step Minting Minting Step 1 (tx#1): Mint Synthetic tokens Minting Step 2 (tx#2): Collect (claim) Synthetic tokens minted in Step 1

2-step Redemption Redemption Step 1 (tx#1): Redeem Synthetic tokens Redemption Step 2 (tx#2): Collect (claim) L1 (e.g. FTM) and Protocol utility (e.g. FXM) tokens

PreviousPrice StabilityNextProtocol Owned Liquidity

Last updated 3 years ago