Though it originated as a ligature of the letters Omega (Ѡ ѡ) and Te (Т т), it functions as a discrete letter of the alphabet, placed between х and ц.
[1] This can be seen in the first printed Cyrillic abecedarium (illustrated), and continues in modern usage.
[2] Ot is used in Church Slavonic to represent the preposition отъ 'from' and prefix отъ-.
It is used with a similar purpose in mediaeval manuscripts of other Slavonic languages written with the Cyrillic alphabet.
In printed books ѿ is often used in preference to (ѡ҃) for the numeral 800.