# Essential Terms

* **Creator:** any entity engaged online who creates work shared online either for free, with or without advertisements, or in exchange for a certain amount of any currency (cryptocurrency or FIAT). This can be via a one-time payment or through a recurring subscription fee. 
* **User:** any entity engaged online who consumes a Creator’s work online either for free, with or without advertisements, or in exchange of a certain amount of any currency (cryptocurrency or FIAT), with a one-time payment or through a recurring subscription fee. 
* **Advertiser:** any publisher, marketer, business, organization or charity that needs to promote itself and are willing to pay for it. 
* **Content/Creator Work:** any work shared by a Creator to their Community including texts, images, graphics, audios, videos. . . 
* **Governance and Utility Token:** FRK
* **Social Media Platforms:** any platform such as Discord, Telegram, Facebook, Twitter, and Instagram where the User has friends, fans or followers and the advertiser pays to distribute their content. 
* **Community:** the people that a Creator knows, where the relationship is managed on any online channel/platform. It does not refer to any particular social platform. 
* **Creator Economy:** similar to the gig economy, a system where Creators are rewarded or are sharing content to their social network. 
* **Smart Contract:** business instructions that are programmed in the blockchain and executed along with a transaction to enforce the terms of a relationship. 
* **Qualified Interaction:** interaction made by a User with a Creator Work counted in the purpose of paying Users and Creators (ie watching a Youtube video). 
* **Standard Period :** period of reference to calculate Revenue Sharing with Creators. Originally set at 1 (one) week.
* **Initial Price:** Price for the minting of one Fraktion during the first Standard Period.
* **Current Price:** Recalculated price for the minting of one Fraktion the first Standard Period.