> ## 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.

# Whitepaper

> Technical specification and economic model

## horse.fun Whitepaper

The complete technical specification, economic model, and mathematical proofs for the horse.fun protocol.

<a href="https://mwygpbmabbmgxb8o.public.blob.vercel-storage.com/docs/whitepaper.pdf" target="_blank" rel="noopener noreferrer">
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    Complete protocol specification (v1.0) — opens in a new tab
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</a>

## Topics Covered

* **Protocol Architecture**: Smart contract design and Solana integration
* **Verifiable Randomness**: Switchboard VRF implementation and security proofs
* **Pari-Mutuel Mathematics**: Complete payout formulas and distribution model
* **Track Probability Distributions**: Mathematical basis for the four track types
* **Token Economics**: HORSE token emission, burning, and utility model
* **Jackpot System**: Progressive accumulation and distribution mechanics
* **Security Analysis**: Threat model and mitigation strategies
* **Economic Sustainability**: Fee structure and long-term viability

## Key Specifications

* **Entry Phase**: 120 seconds
* **Race Phase**: 30 seconds
* **Races per Day**: 576
* **Prize Distribution**: 60% (1st), 20% (2nd), 10% (3rd)
* **Jackpot Allocation**: 2% (Normal), 2% (Super), volume-gated triggers
* **Jackpot Distribution**: entry × (1 + λ·staked HORSE), staking snapshot at entry close
* **Buyback**: 1%, in three phases (seed → deepen → burn)
* **Protocol Fee**: 5%
* **Token Emission**: volume-linked, `E = min(c × volume, cap)`; c = 0.5 → 0.2 → 0.1 (caps 25/10/5) stepping down at 50k and 1M SOL cumulative volume

***

## Version History

* **v1.0** (Current): Initial protocol specification

<Note>
  The whitepaper is the authoritative source for all protocol specifications. Documentation on this site is derived from and must align with the whitepaper.
</Note>