Let me tell you a story: Many moons ago, a fleet of ships innocently navigated the Caribbean in search of new hope. Outcast from society, the days grew long. The grew were ever agitated and for good reason; these waters were unruly, the collective fate of the flotilla hinged on the collaborative efforts and integrity of the whole. In an era where trust was in short supply, one could not survive without ceaselessly looking over their shoulder.

Information was currency, thus, the validity and integrity of ones source could spell ultimate success or demise. Information flows were established based on merit, however, information propagation was slow going. To this end an avenue for communication across long distances was established, accompanied by a preordained set of coded signals to inhibit the possibility of information interception. This system was so progressive that many of its facets are still in use today.

The flotilla cautiously made headway, apprehensive of any foreign sails that appeared on the horizon, lest they catch sight of who lay down-wind. For there were many motivated to see the dissolution of the fleets industrious affairs, ever encouraged by the proliferation of fear amongst the common man in England. The enterprise was nuanced and unfamiliar, but it’s profitability in the absence of a state authority only motivated those in power to see to its end. Hence the anxiety amongst the courageous crew.

After days of safe passage, a sail appeared on the horizon. Fortuitously, it flew flags familiar to the flotilla, but the captain, wise to the illusions of the sea, sent forth a single ship to investigate their intent. Watching through his spyglass, the captain relied upon the speed and integrity of the information that would follow.

As the sole ship approached, the illusion became clearer. While the flags were familiar, the crew was not, rather, there appeared to be no crew at all. As they came along side it was clear something was aloof, were it not for the speed of the signals that followed, this single ghost-like ship had the potential to end the entirety of the flotilla. The first mate raised the signal, which hastily encouraged the remaining flotilla to prepare for war.

On that day, many lives were lost, but the depth of human expense was dampened by a fleeting second of vital information flow, a signal.

Navigating the Unknown

New frontiers warrant new methods of investigation. This holds true for the turbulent nature in the modern frontier of DeFi, for much like the waters of 1700th century Caribbean, we find ourselves in the wild west of finance, ever cautious of who or what we might trust. Similarly, there are those which foster ill intent in such environment, be it the hackers of the north, the state actors of the west, or the 12 year old next door, we just don’t know with whom we are transacting.

Yes, there are services that do provide a mechanism for discerning the good from the bad, but such things are reserved for the privileged few who pay for a service that should be free. We tout a fair ecosystem, when in truth, those “in the know” will always hold an unfair advantage. Paradoxically, much of the commons are left to fend for themselves.

It is time for this to change.

Fairness

The technology available to those who leverage their tactical advantage will always remain hidden behind a pay wall. This is the unfortunate truth. But we can do something to swing the pendulum back to equilibrium. A fair environment needn’t leverage any new technology, for as we have learnt above, such avenues for reliable information flows have existed for centuries, we simply need apply them to the new landscape in which we transact.

Modern signals are as diverse as they are advanced, but this does not necessarily warrant their endorsement. Flags have served as a simplistic method for communication, tried and true to their nature, they propagate information at speed across large distances. If only we could bring these methods into the realm of the smart contracts that facilitate our vibrant ecosystem, we might leverage their capability once more.

Flags

An experiment to swing the pendulum in our favor is now underway. In an attempt to incorporate fast and familiar signals, flags have been deployed into the liquidity of the Ethereum ecosystem. Much like their early founders, the integrity of these signals will be managed by a flotilla of pioneers who can carry this vision forward. This decentralized team can nominate to signal an address or contract they deem necessary, for the betterment of the ecosystem. The information these signals represent will be familiar to the commons, who may now openly digest information flow in their own individual capacity, facilitating fairer due diligence.

Introducing, the signaller, a free public good built on the Signals contract V1.

Information previously reserved for the privileged few is now in abundance.

Instructions for use can be found here.

Let us thrive once more.

Yours aye,
Capt. H.