DKP, short for Dragon Kill Points, is a concept originally created by Thott of Afterlife, at a time where the only two raid targets in EverQuest were two dragons, Lady Vox and Lord Nagafen. These points are awarded to each guild member as they attend a guild raid. The current DKP of each member reflects his or her priority for loot. When a member "wins" an item, they lose a DKP amount that reflects the value of that item.
DKP allows for an unbiased comparison between guild members when decisions about loot are to be made based on attendance and recent items that have been awarded.