Downstream effect, part 2: With these atomic arbitrage opportunities available, it makes sense not to own inventory in these assets: - the opportunity cost of holding them instead of lending, and - price risk for holding non-major tokens. A unique crypto thing to bypass this is to use flash loans. Since this past week, JupLend has seen a massive increase in reverts, entirely driven by users attempting flash loan atomic arb. The logic is: flash loan me X amount of tokens, attempt cyclic arbitrage through certain pools, if I'm not in profit, revert the transaction. As you can see below, this is exactly what happens User receives 3.9997 SOL from a Jupiter Lend flash loan - Swaps on Humidifi, SOL -> USDC - Swaps on SolFi, USDC -> USDT - Swaps on Aquifer to form the cycle, USDT -> WSOL However, at the end, they received 3.9987 SOL, less than the 3.9997 SOL they flash loaned, so they revert the tx.