An exponential increase in the number of flash loans to continue over 2021 and 2022, with arbitrage continuing to lead as the primary use case for flash loans. Followed from afar by Liquidations, collateral swaps, and other use cases such as; self-hedging and loan refinancing. It is likely that the pools’ cumulative value will stretch into hundreds of millions or, if possible, billions of dollars. The expanding market demand will create a strong stimulus for new decentralized borrowing protocols to emerge, putting pressure on the flash loan fees and creating new, innovative business models.