Top 5 Resources For Learning About Maker Vaults

--- title: Top 5 Resources For Learning About Maker Vaults order: -3 hideLanguageSelector: true keywords: "makerdao, vault, vaults, collateral, dai, stablecoin" description: "Learn about Vaults where owners can deposit collateral to generate Dai." tags: Blog Posts --- # Top 5 Resources For Learning About Maker Vaults ![Imgur](https://i.imgur.com/8czBhrf.png) If you're ready to mint some Dai, a Maker Vault is the tool you'll use to do so. Maker Vaults allow users to deposit digital assets into smart contracts that hold those assets as collateral and enable the owner to mint Dai. People often mint Dai to reinvest in digital assets but Dai is also used for things like [retail purchases](https://community-development.makerdao.com/en/funding/merchant-directory) and [payroll processing](https://request.network/en/customer-stories/makerdao/). Giving people the ability to mint and destroy Dai using permissionless technologies makes the Maker Protocol a powerful, decentralized financial service. On the surface, a vault may seem no more complicated than a simple loan, but it's important to understand how vaults work to get the most value out of them and avoid having your collateral liquidated. When you're ready to create your own vault, head over to the [Oasis App](https://oasis.app/) to get started. Until then, here are some great resources for learning about Maker Vaults: ## [#5 Open a Multi-Collateral Vault with MakerDAO from MyEtherWallet (MEW)](https://kb.myetherwallet.com/en/dapps/using_makerdao/) This resource from MyEtherWallet is unique in that it's the only tutorial in our list that teaches you how to create a Maker Vault using something other than the [Oasis App](https://oasis.app/) offered by MakerDAO. Instead, MyEtherWallet offers a dApp browser with a dApp that gives users to access the same functions as Oasis. Vaults can be moved between these interfaces by migrating the wallet used to create the vault but doing so will require care to ensure the wallet doesn't get lost or exposed in the process. ## [#4 How to Generate DAI with a Maker Vault from DeFi Pulse](https://defipulse.com/blog/how-to-generate-dai-with-a-maker-vault/) DeFi Pulse provides a straightforward walkthru of how to set up a vault using MakerDAO's [Oasis App](https://oasis.app/). The article includes an introduction to the basic mechanics of vaults and what Dai can be used for and the homepage of [DeFi Pulse](https://defipulse.com/) displays stats on the total value locked (TVL) in MakerDAO and other DeFi protocols. ## [#3 MakerDAO Tutorial: How to Setup a CDP Vault and Collateralize Your Crypto from LeoFinance](https://www.youtube.com/watch?v=Njf87Jx6sYw) Youtube isn't known as the "world's second-largest search engine" for nothing! Watching videos is a great way to get familiar with Maker Vaults and anything else you might want to learn about. If you're someone who prefers watching videos to reading blogs, check out this step-by-step tutorial from [LeoFinance](https://www.youtube.com/channel/UCXZAjUMby8yDXBRo4h-6wrQ) to get familiar with the process of creating a vault using the [Oasis App](https://oasis.app/). ## [#2 Maker Vaults (CDPs) Tax Guide from CoinTracker](https://www.cointracker.io/blog/tax-consequences-of-maker-vaults) While many in DeFi dream of existing in a borderless, decentralized utopia, the harsh reality of tax enforcement agencies remains a problem many of us have to contend with. Fortunately, this article by Shehan Chandrasekera of CoinTracker explains what taxable events are associated with using vaults and how some of the costs associated with maintaining vaults may be deductible. ## [#1 MakerDAO's Community Development Portal](https://community-development.makerdao.com/en/learn/vaults/) The best place to learn about MakerDAO Vaults is from the community that maintains them! The "Learn" section of MakerDAO's Community Development Portal contains a section on [Vaults](https://community-development.makerdao.com/en/learn/vaults/), covering topics like: <List> - [How to create a Vault](https://community-development.makerdao.com/en/learn/vaults/vault-onboarding-guide) - [How liquidation works](https://community-development.makerdao.com/en/learn/vaults/liquidation) - [How Stability Fees are calculated](https://community-development.makerdao.com/en/learn/vaults/stability-fees) </List> If you prefer videos, check out the [video explainer](https://vimeo.com/427849477) on the [Oasis](https://oasis.app/) website. MakerDAO also offers this more [in-depth video](https://www.youtube.com/watch?v=GjMI_1zkBzo) explaining how to trade Dai for other cryptocurrencies and accrue interest on your Dai. ## Ready to Get Started? Head to the [Oasis App](https://oasis.app/) to create and manage your Maker Vaults. If you still have questions, please reach out using one of the following channels and someone from the community will be happy to help: <List> - [Reddit](https://www.reddit.com/r/MakerDAO/) - [Maker Forum](https://forum.makerdao.com/) - [Maker Chat](https://chat.makerdao.com/) </List>