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. Initially, the DAO and its members will be the main providers of products and services on the platform but over time we see these roles as likely diverging. Among other responsibilities, the DAO can choose who is able to create products on the platform, as well as manage the incentives such as revenue sharing to reward those creators.
Formally, the Ondo DAO will control the parameters behind the smart contracts of the Ondo Protocol. ONDO token holders will govern the DAO and have the ability to change a wide range of its parameters by vote by acting as the administrator for the functions defined under "Roles" (next section).
The Ondo DAO is controlled by the ONDO token.
The total supply of ONDO is 10 billion.
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