What is Makarrata?
Many Aboriginal people use the word 'Makarrata' when talking about treaty. It's a word from the Yolngu people of north-east Arnhem Land and has several layers of meaning:

Peacemaking. Makarrata literally means "a spear penetrating", a traditional practice Aboriginal people used as punishment. If a person was hit by a spear, usually through the thigh, they couldn't hunt or walk properly anymore. This settled them down, forced them to be calm and rest to heal. Hence Makarrata interpretation as "peace after a dispute".
Conflict resolution. Another meaning relates to a negotiation of peace, or a negotiation and an agreement where both parties agree to avoid dispute or bad feelings. This meaning is closely aligned with what many hope a treaty process would look like.
The term was first introduced to non-Aboriginal Australia in 1979 when the National Aboriginal Conference recommended a Treaty of Commitment be entered into between the Australian government and Aboriginal nations. The group decided to use a word from an Aboriginal language for the process and settled on Makarrata.

View the timeline of Australia's journey towards a treaty.

#What would an Aboriginal treaty be about?
Aboriginal demands for what should be included in a treaty are as diverse as Aboriginal nations and individuals. Here are some of the main ideas:

Sovereignty. Acknowledge that Aboriginal people have at no time ceded, relinquished or acquiesced any part of their sovereign existence and status. They want a "a space of our own, free from influence of government".
Land rights. Recognition that Aboriginal people have always maintained a property right in land and the natural resources according to their law and customs. They want an acknowledgement that Australia has not been settled. They want freehold, not native title. People who cannot reconnect to their traditional lands need to be included.
Shared power. A sharing of power with non-Aboriginal people through allocated seats.
A guaranteed voice. Previous solutions where an Aboriginal voice was granted via legislation failed as laws can be repealed in an instant. That's why Aboriginal people demand an Aboriginal voice that is enshrined in the Constitution.

6. Recognition. Recognition of Aboriginal people as the First Peoples of Australia and the distinct rights that flow from this, such as rights to language and culture. (This is not referring to the governments 'Recognise' campaign which many Aboriginal people reject outright.) But also recognising the past, the need to first acknowledge what has happened to Aboriginal people ("truth-telling"). For many it's about recognising that Australia was invaded and not colonised.
7. Reforms. Agreements on the reforms required to reach a more just society and account for Aboriginal dispossession.
8. Statutory entitlements. This can include reparation, compensation (e.g. for land taken or sites destroyed) and benefit sharing.
9. Ownership of natural resources. This includes ownership of water, the natural biodiversity on and within the homelands, trees, medicine bushes, fibres, fishing, native animals, especially their habitats and airspace. It also includes all the benefits that come with these resources.
The Uluru Statement From the Heart, a document written by Aboriginal representatives in 2017, contains many of these demands.
John Pilger, a journalist who works tirelessly for the cause of Aboriginal people, sees a treaty as "an effective Indigenous bill of rights: land rights, resources rights, health rights, education rights, housing rights, and more". [6]
A treaty is about "treat—ing" Aboriginal people with respect and dignity.
Kamilaroi woman Natalie Cromb has her own definition: "A Treaty would be the basis upon which the sovereign Indigenous people of Australia and the government could negotiate the terms of rights to land, minerals and resources and the self-governing of communities." [7] For some, sovereignty is even more important than treaty.
Treaty is also a lot about the need of leadership.

Source: What is a treaty? Why is it necessary? - Creative Spirits, retrieved from https://www.creativespirits.info/aboriginalculture/selfdetermination/what-is-a-treaty

A Voice in indigenous understandings means self-governing of aboriginal affairs. Self determination to realize tribal identity and culture, a reconstruction of ancient languages, justice, and tribal practices. In this they believe they will be totally free of colonial rule.

free of colonial rule.
Josephus,
Free of Colonial goods & services also ?

"That's why Aboriginal people demand an Aboriginal voice that is enshrined in the Constitution".

Who said they demanded anything of the sort? The Voice is a lot more sinister than that, coming from the top, and having very little to do with people.