[3][4] The batter for oladyi is made from wheat or (nowadays more rarely) buckwheat flour, eggs, milk, salt, and sugar with yeast or baking soda.

[9] Oladyi are usually served with smetana (sour cream), as well as with sweet toppings such as jam, powidl, honey etc.

As a dish, it is first mentioned in Domostroy, the 16th-century Russian book of household rules, instructions and advice.

The word derives from Ancient Greek ἐλάδιον, diminutive of ἔλαιον, "olive oil", "oily substance".

[16] The word latke denoting potato pancakes in Jewish cuisine is derived from oladka.