The Wizard’s Vault replaces the existing daily login rewards and daily achievements—specifically the generic Daily category. Other categories (like Daily Fractals, Daily End of Dragons, etc.) will still be around in the achievements panel. You’ll continue to receive progress toward Daily Completionist by completing Wizard’s Vault daily objectives and achievement points from the Wizard’s Vault Daily Completionist achievement.
By directing players to various parts of the game with regularly refreshed challenges and rewards, the Wizard’s Vault system functions similarly to a seasonal content pass in other games. But we tried to build the Wizard’s Vault from the ground up to be as player friendly as possible. For this first round of exclusive cosmetic rewards we have the Enchanted Owl Griffon Skin.
https://www.guildwars2.com/en/news/discover-the-wonders-within-the-wizards-vault-in-guild-wars-2-secrets-of-the-obscure/