Maker is the governance token for the organization that issues the stablecoin DAI, a currency that is supposed to always equal $1. MakerDAO is a decentralized organization (or “DAO”) run by holders of the MKR token. MKR grants the right to vote on decisions about DAI. The more MKR you have, the more votes you get. This is valuable because you can vote on how much interest you earn for lending MakerDAO your money. Lending your cryptocurrency to MakerDAO helps keep DAI stable and equal to one US Dollar. Since everyone who owns MKR wants their MKR tokens to be valuable, they all make decisions that keep the price of DAI stable and make it more widely used. Put simply, MKR changes value so DAI doesn’t.

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