Glossary

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A-C

Anchor - Solana development framework for building smart contracts Blazing Hoof - The normal jackpot: triggers every ~5.2 hours on average, 10% staked-token burn Burn - Permanent removal of HORSE tokens from circulation Buyback - 1% of every race’s volume, in three phases: seeds the liquidity pool (before launch), deepens it as protocol-owned liquidity (early market), then buys HORSE and permanently burns it (steady state) Chaos Track (Track C) - Most unpredictable track with entropy 3.16 bits

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D-G

Developer Fee - 5% of total entry volume used for protocol operations Entropy - Measure of unpredictability in probability distributions (2.98-3.16 bits) Expected Value (EV) - Statistical measure of entry profitability Fisher-Yates Shuffle - Algorithm for random probability assignment (track permutation)

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H-P

HORSE Token - Protocol token with volume-linked emission (E = min(c × volume, cap)) Jackpot - Progressive prize pool (Blazing Hoof: 1/125, King’s Run: 1/12500) King’s Run - The super jackpot: triggers every ~21.7 days on average, 50% staked-token burn Lamports - Smallest unit of SOL (1 SOL = 1 billion lamports) Pari-Mutuel - Pooled prize system where players compete against each other Plackett-Luce Sampling - Sequential weighted sampling that produces the full finishing order; each horse wins with exactly its assigned probability Premint - 500,000 HORSE minted in advance solely to seed the initial liquidity pool (no team/insider allocation)

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R-Z

ROI - Return on Investment percentage Solana - High-performance blockchain hosting the protocol Staked HORSE - HORSE deposited by a player; multiplies the jackpot share (entry × (1 + λ·staked)) and is what jackpot burns apply to. Snapshotted at each race’s entry close Staking Snapshot - The staked balance frozen when entries close; determines both boost and burn for that race. Unstaking requested mid-race executes only after settlement Switchboard VRF - Decentralized oracle providing verifiable randomness Track - Race configuration (A, B, C, D) with different probability distributions Value Score - Ratio of probability to pool share (>1.5 = good value) Volume Gate - Minimum race volume ($B_{\min}$, half the rolling daily median) required for a jackpot trigger to pay out; triggers in races below it are void, not deferred VRF - Verifiable Random Function ensuring cryptographic fairness

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Mathematical Symbols

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Next Steps