Signals Overview
Signals is a daily Bitcoin range market built on a Continuous LMSR (CLMSR). We created it after watching order-book prediction venues collapse under thin liquidity: prices drifted away from reality, traders stitched together dozens of YES/NO legs, and no one could tell whether the odds meant anything. This documentation explains how Signals addresses that failure, how the on-chain system operates each day, and how you can interact with it safely.
What Signals solves
Every market we list covers a single UTC date. Operators publish the tick bounds and spacing, traders choose ranges that fit their thesis, and the CLMSR potential recalculates probabilities after every trade. Because all ranges sit in one pool, inventory doesn't fragment across separate strike books and the maker's loss stays bounded by the chosen liquidity parameter. The result is a market that reacts instantly to flow while keeping the economic guarantees you expect from the LMSR family.
Settlement is deterministic. When the designated reference value is confirmed, the operator calls settleMarket, the contracts lock in the outcome, and claims remain open indefinitely. Every step remains visible on-chain, allowing anyone to replay the day without relying on the front end.
How to use this documentation
If you want the story of why Signals exists and what design principles shaped it, start with Why Signals Exists and the Market Flow Overview. Readers who need the formal mechanism can move straight into How CLMSR Works, followed by the specific notes on Cost & Rounding and Safety Parameters. When you are ready to trade, follow the Quick Start, then keep the Trader Guide and Settlement & Claims nearby for day-to-day decisions.
Snapshot of the daily loop
A Signals day opens with market creation: the operator sets tick bounds, spacing, timestamps, and the liquidity parameter. Traders then adjust ranges throughout the session, and every order mutates the CLMSR weights so probabilities stay normalized. After the close, settlement records the reference price on-chain, leaves an immutable trail for auditors, and immediately enables claims. This same loop repeats every day, giving integrators a predictable surface to monitor and extend.
Need a deeper mathematical reference? Consult the Key Formulas Cheat Sheet or download the full Signals CLMSR whitepaper.
Questions or feedback are always welcome via the Signals community channels or hello@signals.wtf.