Maker (MKR) is the governance token of the MakerDao and Maker Protocol. The first is a decentralized organization, and the second is a software platform, both based on the Ethereum blockchain. MKR operates DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.
The tokens act as a kind of voting share for the management of DAI. They don’t pay dividends to their holders; however, they do give them voting rights with regard to development decisions. Their value is expected to grow with the success of DAI.
3. Characteristics of Maker (MKR)
MKR’s best feature is that it allows users in on the development part of DAI. DAI is currently one of the most popular stablecoins and is the 25th largest cryptocurrency.
Each holder of MKR tokens has the right to vote for or against changes to the Maker protocol. The ability to manage one of the largest stablecoins in the market drives the demand for MKR and affects its price.