A wallet design that adds on-chain time delays or guardians to reduce the risk of theft.
A vault is a self-custody setup that requires extra steps to spend funds, such as a timelock plus a recovery path. If an attacker steals a key, the delay lets you cancel or claw back the transaction using a separate key.
"Using a 2-step vault, withdrawals require a 24-hour timelock; a second key held offline can cancel the spend during the delay."
All terms and definitions may update as the Cryptionary improves.