Flash loans on ICP?

On Ethereum there are flash-loans: a poor person temporarily becomes “rich” by borrowing a token only for the duration of a smart contract call.

It can be thought about as either a feature or vulnerability of Ethereum, because it allows users to mis-report their welfare to the system.

Is there a similar thing on ICP?

No, this is not possible on ICP because transactions are not as atomic. An ETH flash loan is lent and repaid all in the same transaction, and if the loan is not repaid the tx won’t go through at all, so the lender is sure to receive the loan back. On ICP it is not possible to do such a construct. You’d have to provide a lot of collateral

Just want to mention that this will be possible on the Bitfinity EVM on top of ICP.