The ODG token is Open Dollar's governance token. Open Dollar is a DeFi lending protocol built on Arbitrum for borrowing against liquid staking tokens while earning staking rewards and providing CDP liquidity with Non-Fungible Vaults (NFVs).

ODG grants holders the right to participate in the governance process, influencing key decisions and the strategic direction of the Open Dollar ecosystem. The Protocol treasury is controlled by ODG token holders through a DAO.

Launched in January 2024, ODG holders can create proposals, vote, or delegate their voting power to delegates of their choice to steer governance on their behalf.