From the 1940s, the French occupied this area to develop a coffee plantation project. They took advantage of the natural low land, which was originally a volcanic fissure vent in close relation to the Nam Gle volcano, to create a lake for the purpose of water storage for irrigation of coffee plantations. In 1982, Dak Mil district invested in upgrading and expanding the extent of the lake to provide irrigation water for Dak Mil district.
Located in the center of Dak Mil town, Caldera lake has a circumference of over 10 km, and a surface area of approximately 108 hectares, with the deepest point from 15 to 17 m deep. The aquatic species of the lake are very numerous, up to 500 species, according to the results of the current research; in the middle of the lake is a peninsula of about 120 hectares of coffee and cocoa plantation. Dak Mil Lake is considered one of the most beautiful lakes in the Central Highlands.
In the early morning and late evening of the day, many residents of the town like to come to the exercise sites in the park, equipped with simple tools for physical fitness. In fact, the park has become an attractive place for many people, not only to exercise but also to make friends. Yearly, on the full moon day in January and July, a Lantern Festival is solemnly held at this lake by local Buddhists, with the consensus of local authorities, to pray for peace and well-being of the country and local people.