Not every move is a Signal.

Not enough evidence is not the same as nothing happened.

1. 01What was observedMeasurement

   The dated record the claim is bound to, and the exact scope it is allowed to describe. A Signal may only describe the part of the record that was admissible and comparable. Where only part of an object can be measured, the claim is limited to that part or it is not made at all.

   Record

   Illustrative

   Measurement basis

   Illustrative

   Permitted scope

   The admitted and comparable universe only

2. 02What can be comparedEligibility

   A change is a statement about two observations, so the second one has to be real and it has to be comparable. A missing prior reading is never treated as zero, a gap is never filled in, and a renamed or reclassified entity does not silently inherit the history of the thing it replaced. If the comparison cannot be made, the outcome is unavailable rather than a number.

   Comparability is judged for the specific claim being made. A missing input for one kind of object does not block an evaluation that never needed it.

   Comparison record

   Illustrative

   Identity continuity

   Required, and proved rather than assumed

   Missing prior reading

   Fails closed. Never zero

3. 03Which rule appliesEligibility

   Each kind of object has a small set of named families, and each family states in advance what evidence it needs and what it takes to pass. Every route carries its own required conditions, so a single striking number cannot qualify on its own.

   The rule is fixed before the day it judges.

   Family

   Illustrative

   Methodology version

   In development. Not effective

   Thresholds

   Not yet calibrated or approved

4. 04How overlapping candidates are handledEvent resolution

   One underlying occurrence can pass several rules at once. A large move in a single stablecoin can also register as a move in its issuer, its chain and the aggregate. Publishing all four would be four reports about one thing.

   Candidates connected by a stated mechanical relation are grouped, and one is selected to represent the group in public. Happening on the same day is not a relation. Grouping never changes whether a candidate qualified: the others remain in the record as supporting members and stay inspectable.

   Grouping basis

   A stated evidence relation. Never coincidence

   Effect on qualification

   None. Resolution cannot unqualify a candidate

   Supporting members

   Retained and auditable

5. 05What may be publishedDistribution

   Wording is assembled from facts the evidence already carries. Copy may not add a cause, a motive or a consequence that the record does not support, so a Signal describes what changed rather than why someone did it. Distribution decides how a finished Signal is carried. It cannot create one, suppress one, or make one sound larger.

   Under the methodology in development, no Signal is published. Every artifact it could produce is locked as non-publishing.

   Copy authority

   Recorded facts only

   Effect on eligibility

   None

   Current publication state

   Not enabled

The order is fixedMeasurement, then eligibility, then event resolution, then distribution. No later stage may change an earlier result.

The level stands. The change is withheld until there is something admissible to compare it with. A first reading is a level, not a movement.

So neither test is used alone. A move has to clear a floor that makes it economically non-trivial, and it has to be exceptional against a record of that entity's own behaviour. A large entity does not qualify for routine behaviour because the dollar figure is big, and a tiny entity does not qualify because a small base produced a large percentage.

Nothing about an entity's size, popularity or commercial relationship with Stable Tape enters that test.

The three layers are versioned separately. A change to one is not a change to another.

DraftThe Signal Constitution is drafted and under review. It is not in force, and it carries no effective date.

Only issued Signals appear in the archive.

We keep three things separate: what was published, what changed later, and whether the original Signal still stands. If a Signal is withdrawn, the original remains visible with the reason and date of the change.

A provider restatement does not automatically make the original fixing wrong. If Stable Tape captured the source faithfully, the original remains the record of what the source reported at the time. The revised evidence is recorded and evaluated separately.

The rule is simple: keep the original statement, keep the methodology that produced it, and record any later status change separately.

Not defined hereStatus labels are provisional. The revision system will define the final vocabulary for Signals and other revised records.

A withdrawn Signal should still show what it said, when it was issued, which methodology produced it, the record and comparison behind it, why its status changed, and when.

In developmentThis policy is still in development. Automated source-revision monitoring is not live yet. When the revision register launches, Signal status changes will link to the underlying revision event.

Commercial support does not determine Signal eligibility.

How today's Daily Assessment is selectedThe candidate research that preceded thisThe Daily Tape