Maker (MKR) is a utility token, governance token and recapitalization resource of the Maker system.
It is required for paying the fees accrued on Collateralized Debt Positions (CDPs) used to generate Dai in the Maker system making it a utility token.
MKR holders vote for the risk management and business logic of the system using MKR as governance token. A holder can vote for any number of proposals with the MKR they have and submit a new proposal, or cast or withdraw his votes at any point. The voting process is done through continuous approval voting.