> ## Documentation Index
> Fetch the complete documentation index at: https://docs.horse.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Definitions of key terms and concepts

## 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

***

## 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)

***

## 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)

***

## 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

***

## Mathematical Symbols

| Symbol     | Meaning                                                |
| ---------- | ------------------------------------------------------ |
| $p_i$      | Win probability for horse $i$                          |
| $B$        | Total entry volume                                     |
| $B_i$      | Total entries on horse $i$                             |
| $J_n$      | Blazing Hoof (normal) jackpot pool                     |
| $J_s$      | King's Run (super) jackpot pool                        |
| $R_u$      | Staked HORSE for user $u$ (snapshotted at entry close) |
| $\lambda$  | Jackpot boost coefficient (staked-token multiplier)    |
| $B_{\min}$ | Volume-gate threshold for jackpot-trigger eligibility  |
| $\beta$    | Burn rate (0.10 or 0.50)                               |
| $E$        | Volume-linked HORSE emission per race                  |
| $H$        | Shannon entropy                                        |

***

## Next Steps

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