The memorial sign unveiled on July 27, 2018 near the St. Nicholas Naval Cathedral on Yakornaya Square in Kronstadt is dedicated to several events: the 330th anniversary of the discovery of the boat "Saint Nicholas" by young Peter I, the 295th anniversary of the foundation of the Kronstadt Fortress and the day of the first naval parade with the participation of the boat.

The sculptor of the project was the national artist of Russia, academician of the Russian Academy of Arts Salavat Shcherbakov and the architect Vasily Danilov. Since its installation the monument with paved area around it has become an open-air museum. The paths of the platform in front of the panel form the St. Andrew's flag.

On the main facade of the memorial sign there is a monumental panel with a colored mosaic reproduction of the painting "The Triumph of the Russian Fleet" by the national artist of the Russian Federation, academician of the Russian Academy of Arts Vasily Nesterenko. The panel depicts the first parade of the Baltic Fleet in 1723 held in honour of the second anniversary of the end of the Northern War.

The inscription on the monument under the panel says: "The Triumph of the Russian Fleet. In Memory of the First Naval Parade of the Baltic Fleet in Kronstadt, which took Place on August 11, 1723”. On the back, the armorial side of the memorial sign, the coat of arms of Kronstadt is placed surrounded by ships, anchors, cannons and weapons.