Layer 0.5 (SEETHE)

An era of compromises and fragmentation finally comes to an end. We have witnessed horizontal scaling, we have seen vertical scaling, yet we are still here wondering when the scaling problem will actually be solved. The answer is simple: recursion. Layer 0.5 brings you a megalithic recursive blockchain built completely on Ethereum mainnet. No more bridging. No more restaking. No more cheap transactions. Layer 0.5 brings everything back to Ethereum mainnet. L2s were a fun ride, but the adventure has to come to an end. The new paradigm of blockchain allows for blockchains within blockchains. How, you ask? Buckle up for a technical deep dive (VCs, please keep on reading; your time will come).

Let us jointly abandon the lie of the decentralized sequencer once and for all. No need to even venture into the fantasy realm of shared sequencing. How to inherit mainnet security? Be on mainnet. Instead of dreaming of a world consisting of a plethora of L2s, why not embrace an L1 consisting of many L2s? That, my friend, is the vision of Layer 0.5. Each L2 could live in an Ethereum smart contract where each smart contract contains a complete implementation of the respective VM - all powered by Layer 0.5. To guarantee state-of-the-art security, we suggest that CertiK, as well as Peckshield, conduct a thorough and expensive code audit of Layer 0.5.

Beyond being the most secure system to date, Layer 0.5 offers a number of native and novel features. As everything runs on Ethereum mainnet, there is no longer a need to bridge to any other chain. Instead, users can enjoy embedded atomic bridges within Layer 0.5. At first, recursive gas costs may seem high; however, they will become negligible after successfully transitioning back to Proof-of-Work - a cause Layer 0.5 is firmly committed to.

To ensure community involvement, Layer 0.5 will entirely rely on DAO governance, a battle-tested system for democratic participation (for an overview of successful DAOs in Web3, please refer to the list at the bottom of the page). There will be extensive governance theater, all secured by a multisig. For privacy reasons, all multisig members remain anonymous.

Layer 0.5 will be governed and funded through $SEETHE. Note that the future team share of 1% will remain locked until the fully diluted valuation reaches $1 billion. At this point, a team of ten developers with a salary of $1 million each will commence development. We expect the launch to be imminent thereafter. To save costs during the early stages of rollout, we expect Charles Hoskinson to act as the initial node.

For funding, Layer 0.5 will not rely on VCs but will solely be backed by insiders. However, Layer 0.5 recognizes the immense contribution VCs have had to the space since its inception. Hence, a generous and gratuitous airdrop allocation of points has been allocated to the most supportive VCs in the industry (as we are no experts in the VC space, we solely relied on an external source to identify the top of the class). Given their industry expertise, we suggest that the VCs included in the airdrop decide on the team composition by reaching Proof-of-Work consensus based on their timesheets from the two years running up to launch.

We recognize that Layer 0.5 is a daunting project, but we believe it is the only solution that guarantees Ethereum's long-term success. Given the complex nature of our mission, we say: decentralize first, launch later.

Disclaimer: For legal reasons, Layer 0.5 will only be accessible to US residents and citizens.