OneDAO Finance describes itself as a decentralized reserve currency protocol available on the Harmony Network. OneDAO is a fork of OlympusDAO. Olympus DAO is a DeFi project that aims to provide worldwide stablecoin assets backed by cryptocurrency.

The company's purpose is to create a policy-controlled monetary system that is native to the Harmony network and driven by the native token of OneDAO Finance. OneDAO Finance aims to use this mechanism to optimize stability and consistency, allowing ODAO to act as a worldwide unit of account and medium of exchange currency. In addition, the company's short-term goal is to optimize the system for development and wealth generation. Furthermore, they seek to become a perfect Decentralized Autonomous Organization (DAO).

The goal of OneDAO is to achieve price uniformity for a representative basket of goods without using the standard currency. OneDAO claims that by establishing this community-owned decentralized financial infrastructure, the cryptocurrency sector can remove itself from the world of traditional banking.

The native token of the platform is "ODAO." A basket of single assets (DAI, USDT, USDC, and UST) and liquidity-provided assets (LP) backs each ODAO token. These assets contribute to the growth of the OneDAO treasury and support the ODAO token's inherent worth, which cannot be depreciated. Traders that stake their cryptocurrency tokens on (https://www.coinbase.com/learn/crypto-basics/what-is-a-dex#:~:text=A%20decentralized%20exchange%20(or%20DEX,occur%20directly%20between%20crypto%20traders.&text=A%20decentralized%20exchange%20(better%20known,occur%20directly%20between%20crypto%20traders) (Decentralized exchange) to gain transaction fees are known as liquidity providers. When used in the cryptocurrency industry, a basket refers to a collection of digital currencies handled as a unified asset, reducing the need for holders to monitor individual currencies regularly.

Through staking and minting, OneDAO also brings economic and game-theoretic dynamics into the market. If a user stakes ODAO, they receive an OXY auto-compound token with rebase incentives. The OXY token is burnt, and the user receives ODAO when they un-stake. The auto-compounding counterpart to ODAO is OXY.

Minters exchange bonds backed by single assets or LP-linked tokens for ODAO tokens at a discount. These tokens are allocated linearly during a five-day vesting period. Bonding is the primary process for issuing new ODAO tokens. The total supply of ODAO is 3,243 coins.