MakerDAO’s Vault Model – A DeFi Revolution BeginsIn 2017, MakerDAO launched Dai, the first decentralized, crypto-collateralized stablecoin, and with it, the concept of the vault (formerly CDP, or Collateralized Debt Position) was born. This model was nothing short of revolutionary. For the first time, anyone could lock crypto assets (like ETH) in a smart contract “vault” and mint a stablecoin (Dai) against it without any central authority. MakerDAO proved that a trustless, overcollateralized ...

MakerDAO’s Vault Model – A DeFi Revolution BeginsIn 2017, MakerDAO launched Dai, the first decentralized, crypto-collateralized stablecoin, and with it, the concept of the vault (formerly CDP, or Collateralized Debt Position) was born. This model was nothing short of revolutionary. For the first time, anyone could lock crypto assets (like ETH) in a smart contract “vault” and mint a stablecoin (Dai) against it without any central authority. MakerDAO proved that a trustless, overcollateralized ...