# Vault

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

In DeFi, a vault is a smart contract that automatically manages a yield strategy — typically depositing user assets into one or more protocols, compounding rewards, and optimising for returns. Yearn Finance popularised the vault model. In MakerDAO, a vault is the collateralised debt position where users lock assets to mint DAI.

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Canonical: https://decentralized-finance.io/glossary/vault/