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Chart description
A vault is a smart contract on the Ethereum blockchain that holds collateral in the form of Ethereum tokens that is used to generate the DAI stablecoin. This metric shows the count of new vaults (collateralized debt positions) created in the MakerDAO ecosystem. It reflects user engagement, credit creation, and overall growth of the protocol. A rising number of new vaults suggests increased activity and interest in the platform, while a decline may indicate reduced demand for borrowing or shifts in user preferences.