Maker (MKR) is the governance token of MakerDAO and the Maker Protocol, both of which are decentralized platforms built on the Ethereum blockchain. These platforms allow users to create and manage the DAI stablecoin.
Launched in December 2017, Maker was conceived in 2015 with the goal of operating DAI, a decentralized cryptocurrency whose value is designed to remain stable and is soft-pegged to the US dollar.
MKR tokens act as voting shares for the organization behind DAI. Although they do not provide dividends, they grant holders voting rights on the development of the Maker Protocol. MKR tokens are also expected to increase in value as DAI becomes more successful.
The Maker ecosystem is one of the first projects in the decentralized finance (DeFi) sector, which aims to create decentralized financial products on smart-contract-enabled blockchains like Ethereum.
Reference: CoinMarketCap