Workflow for a flash loan:
1. Take a loan
2. Match the loan with an opportunity such as arbitrage or a collateral swap
3. Repay the loan
Bravo, you've capitalized on Balancer's Flash Loans 🤩

快速贷款的工作流程：
1、贷款
2、将贷款与套利或抵押品互换等机会匹配
3、偿还贷款
好极了，你已经利用了平衡器的快速贷款🤩

Since the Vault holds liquidity across all Pools, consolidated token balances are available for Flash Loans. As a result, users can access deeper liquidity since it isn't fragmented across multiple Pools.

由于金库持有所有池的流动性，合并代币余额可用于快速贷款。因此，用户可以获得更深层次的流动性，因为它不会分散在多个池中。

Flash Loans are atomic transactions 🤯
This means that if a given strategy is not able to repay the loan, the whole txn is reverted, and all borrowed tokens get returned to the Vault.

快速贷款是原子交易🤯
这意味着，如果给定的策略无法偿还贷款，则整个txn将被还原，并且所有借用的代币都将返回到保管库。

Flash Loans are uncollateralized loans that must be repaid (plus interest) in the same txn. Using Flash Loans, anyone can make money if they identify an arb opportunity.

快速贷款是必须在同一txn中偿还（加上利息）的无抵押贷款。使用快速贷款，任何人只要找到arb机会都可以赚钱。

The novelty that Balancer brings to Flash Loans is the Vault architecture which consolidates liquidity across all Balancer Pools. Additionally, there are ZERO fees for flash loans.
Txn for reference ↓
https://etherscan.io/tx/0xe7c6... https://t.co/IpFbNv4opJ

平衡器为Flash贷款带来的新奇之处是Vault架构，它整合了所有平衡器池中的流动性。此外，快速贷款的费用为零。
Txn供参考↓
https://etherscan.io/tx/0xe7c6... https://t.co/IpFbNv4opJ

Capitalizing on Balancer's Flash Loans
🧵 🤑 🧵

利用平衡器的快速贷款
🧵 🤑 🧵

15 minutes until we take the stage with @beethoven_x and @optimismPBC 🎵🔴
📍Twitter Spaces ⬇️
https://twitter.com/i/spaces/1... https://twitter.com/beethoven_...

15分钟后，我们将与贝多芬x和optimismPBC一起登上舞台🎵🔴
📍推特空间⬇️
https://twitter.com/i/spaces/1... https://twitter.com/beethoven_...

RT: Aura has accumulated over 1m veBAL! BAL depositors can still earn over 500% APR in our boosted auraBAL launch pool.
More than 1.7m AURA has been locked to direct @BalancerLabs protocol rewards.
Lock BAL and earn your stake in Aura today:
https://app.aura.finance/ 💜 https://t.co/x2kSaBA3FN

RT：光环累积了超过1百万维巴尔！在我们增强的auraBAL启动池中，BAL储户每年仍能赚取超过500%的利息。
超过170万AURA被锁定为direct@BalancerLabs协议奖励。
锁定BAL并立即获得Aura的股份：
https://app.aura.finance/ 💜 https://t.co/x2kSaBA3FN

RT: Can @BalancerLabs and @AuraFinance compete with $CVX / $CRV as the kings of DeFi?
$AURA is a new VE token aggregator that launched under the radar. I did a deep dive for the upcoming @MarketCapping episode, and the comparison numbers are staggering...
Thread 🧵 ⬇️ 🧵 https://t.co/6uOpWR035w

转发：BalancerLabs和AuraFinance能否与$CVX/$CRV竞争DeFi之王？
$AURA是一款全新的VE代币聚合器，现已上市。我为即将到来的@MarketCapping剧集做了深入的研究，对比数字令人震惊。。。
线🧵 ⬇️ 🧵 https://t.co/6uOpWR035w

RT: BPT Deposits are live now on Aura!
Top voted pools on Ethereum have been added to the UI. Depositors in these pools earn boosted BAL and AURA
https://app.aura.finance/ https://twitter.com/AuraFinanc...

RT：BPT存款现在在Aura上生效！
Ethereum上投票最多的池已添加到UI中。这些存款池中的储户赚取了提振的BAL和AURA
https://app.aura.finance/ https://twitter.com/AuraFinanc...

Sitting down with @beethoven_x and @optimismPBC to talk about the Optimism deployment?
Probably nothing.
⏰Friday, June 24th at 2PM UTC/ 10AM EST
📍Twitter Spaces ⬇️
https://twitter.com/i/spaces/1... https://twitter.com/optimismPB... https://t.co/Yk3nbZRqZX

与@beethoven\u x和@OPTIMIMPBC坐下来谈谈乐观主义的部署？
可能什么都没有。
⏰6月24日星期五，UTC下午2点/东部时间上午10点
📍推特空间⬇️
https://twitter.com/i/spaces/1... https://twitter.com/optimismPB... https://t.co/Yk3nbZRqZX

Because of the convexity of the Value Function, the IL will always be either zero or a negative number.
A negative loss shouldn't be interpreted as a gain.
The real meaning of the IL being negative is that there is always some IL with any relative change in token prices.

由于值函数的凸性，IL将始终为零或负数。
负损失不应被解释为收益。
IL为负值的真正含义是，总有一些IL在代币价格上有任何相对变化。

More info on calculating value, IL, and slippage for Balancer Pools can be found ⬇️
https://medium.com/balancer-pr...

可以找到有关计算平衡器池的值、IL和滑动的更多信息⬇️
https://medium.com/balancer-pr...

The finish line 🏁
By replacing the formulas above, we get to our final expression for impermanent loss in Balancer Pools. https://t.co/JA4chZUGPc

终点线🏁
通过替换上述公式，我们得到了平衡器池中非永久性损失的最终表达式。https://t.co/JA4chZUGPc

Breaking down the above formula 🤓
Imagine a holding basket that has a token with a weight of 50%, and that token doubled in USD value. The total value of the holding basket will increase by 50% or, 1.5x
IL can also be written in terms of variation in Pool value and hold value

分解上述公式🤓
想象一下，一个篮子里有一个重量为50%的代币，而这个代币的美元价值翻了一番。吊篮的总价值将增加50%或1.5倍
IL也可以根据池值和持有值的变化写入

We can expand the formula for IL using the following definition for variation of hold value for the Pool https://t.co/diwgGeENe2

我们可以使用以下池保留值变化的定义来扩展IL的公式https://t.co/diwgGeENe2

This formula considers a theoretical Pool with a 0% fee. Balancer's Value Function without fees is path independent.
If the liquidity provider removes their liquidity when all the relative token prices are the same as when they added liquidity, the IL will be zero.

此公式考虑的是一个理论池，费用为0%。平衡器的无费用价值函数是路径独立的。
如果流动性提供者在所有相关代币价格与其增加流动性时相同时移除其流动性，则IL将为零。

NOW let's add fees to the equation.
The final profit in USD terms by the LP will be the accumulated fees in terms of % of the total Pool value subtracted by the IL.

现在让我们把费用加到等式中。
LP的最终利润（以美元计）将是累计费用（以池总价值的%减去IL）。

Impermanent Loss (IL) describes the percentage by which a Pool is worth less than what one would have if they had instead just held the tokens outside the Pool. https://t.co/yVVu6WQo9S

非永久性损失（IL）描述了一个池的价值低于一个人在池外持有代币时的价值的百分比。https://t.co/yVVu6WQo9S

Let's start with the Value Function.
The Value Function invariant ensures all the interesting self-balancing properties that Balancer pools have this formula.
Where Bi and wi are the token balances and weights, respectively. https://t.co/SXHKr7hdPX

让我们从Value函数开始。
值函数不变量确保了平衡器池具有此公式的所有有趣的自平衡属性。
其中Bi和wi分别是代币余额和权重。https://t.co/SXHKr7hdPX