Ondo permissionless vaults and other products democratize access to sophisticated financial products. We are taking this democratization of finance one step further by creating an incentive mechanism and decentralized governance system to enable those who bring value to Ondo and its users to also be rewarded for that value creation. This takes the form of the Ondo DAO, which can be thought of as the infrastructure enabling anyone to provide investment banking services on its platform.
🗃️ The ONDO Token
The Ondo Protocol uses OpenZeppelin's AccessControl library to implement role-based access control (RBAC). RBAC is a popular security methodology for breaking down a system's functionality into coherent groups. Each role has an admin responsible for adding and removing others from the role, whether an externally-owned account (EOA), a smart contract, or a multi-signature account controlled by a group of EOAs. Note that accounts can hold multiple roles. The RBAC system is flexible and can be modified post-deployment to suit changing needs.