📄️ Overview
The Vaults contract is the core of the protocol, the contract that takes care of the minting and burning of all FxDAO stablecoins. In this page, we will take a look at some fey keys to understand how the contract works.
📄️ Creating a Vault
In FxDAO, synthetic coins (stablecoins) are issued in the form of debt, this debt is backed by collateral (XLM), and the position is denominated as a "Vault". A Vault represents the debt and collateral a user has with the protocol and it's created based on the denomination of the currency.
📄️ Updating the Vault
After you have created a Vault, you can update its state by doing the following operations: Increasing the debt (method pay_debt), paying the debt, and increasing the collateral.