When you expose an OData resource, Studio Pro gives an example of the location where it can be accessed on a running app. The example that it gives refers to localhost because that’s where the app is located when then you run it from Studio Pro.

odata.org describes the relation between OData and REST as “OData (Open Data Protocol) is an ISO/IEC approved, OASIS standard that defines a set of best practices for building and consuming RESTful APIs. “