How to Install and Use the Poly-Flash Flashloan Smart Contract on Polygon Network

Jun 15, 2022 | Blockchain

Welcome to the world of flashloans! If you’re looking to leverage the capabilities of the polygon network through the Poly-Flash open-source smart contract, you’ve come to the right place. This guide will walk you through the setup, usage, and troubleshooting of this smart contract with ease.

Installation Steps

Follow these simple steps to get started with Poly-Flash:

1. Install Prerequisites

  • Ensure you have Node.js installed.
  • Install Yarn if you haven’t already.

2. Clone the Repository

Use the following command to clone the Poly-Flash repository:

git clone https://github.com/yuichiroaoki/poly-flash.git

Then navigate into the project directory:

cd poly-flash

Quickstart

1. Setup Environment Variables

To run the Poly-Flash contract, you’ll need to set up an environment variable. Here’s how:

  • Get your ALCHEMY_POLYGON_RPC_URL from Alchemy (it’s free!) and create a .env file with the following line:
    • ALCHEMY_POLYGON_RPC_URL=your-own-alchemy-polygon-mainnet-rpc-url

Add Your Private Key

To execute flashloans on the polygon mainnet, you’ll need to add your PRIVATE_KEY:

  • Retrieve your private key from MetaMask and ensure it starts with 0x.
    • PRIVATE_KEY=your-PRIVATE_KEY

2. Install Dependencies

Run this command to install required dependencies:

yarn install

3. Compile Smart Contracts

To compile the smart contracts, execute the following command:

yarn compile

4. Test on Polygon Mainnet Fork

You can test the contracts using the command below:

yarn test test/polygon/do_doflash.test.ts

Deploying the Contract

Once you've successfully completed the quickstart, deploy your smart contract with the following command:

yarn deploy --network polygon

Note: It costs around 0.2 MATIC to deploy the Flashloan contract.

Additional Operations

For liquidations, use the following commands:

yarn liquidationsDeploy

For deployment on the mainnet, execute:

yarn liquidations --network polygon

Understanding the Code: An Analogy

Think of deploying the Poly-Flash smart contract like setting up a new café:

  • Installing Node.js and Yarn is like procuring the key ingredients you need to serve the perfect cup of coffee.
  • Cloning the Repository is akin to getting all the café equipment in place and ready for action.
  • Setting Environment Variables represents hiring the right staff members who know how to operate your café smoothly.
  • Compiling Smart Contracts is when everything is put together, ensuring your coffee is brewed to perfection.
  • Finally, Deploying the Contract is like opening your café doors to welcome customers in!

Troubleshooting

If you encounter any issues during your setup or execution, here are a few troubleshooting tips:

  • Double-check your environment variables in the .env file to ensure they are correct.
  • Ensure that your yarn install command has completed successfully before attempting to run or compile contracts.
  • If your transactions fail, verify that your wallet has sufficient MATIC to cover the deployment costs.

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Conclusion

At fxis.ai, we believe that such advancements are crucial for the future of AI, as they enable more comprehensive and effective solutions. Our team is continually exploring new methodologies to push the envelope in artificial intelligence, ensuring that our clients benefit from the latest technological innovations.

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