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Maker (MKR) is a governance token for the MakerDAO protocol, a decentralized finance platform that enables users to generate the DAI stablecoin by collateralizing cryptocurrencies. MKR holders vote on key protocol decisions such as risk parameters, stability fees, and system upgrades, making them responsible for maintaining DAI's peg to the US dollar. What distinguishes Maker is its pioneering role in creating the first major decentralized stablecoin backed by crypto collateral, offering an alternative to centralized stablecoins and earning MKR value through stability fees and protocol revenue.