Maker (MKR) is the native token for Maker Protocol and MakerDAO. MKR is an ERC-20 token that gives voting rights to users, however, it does not give any incentives to them. MakerDAO is an open source development and a decentralized organisation that aims to bring financial stability and transparency to the crypto space. MakerDAO governs Maker Protocol through voting from MKR holders.
Maker Protocol is a decentralized application (Dapp) that was built on Ethereum blockchain. It now accepts any Ethereum-based asset as collateral to generate DAI, a decentralized stablecoin.