[Proposal] Based Rollup - Simple, Decentralized, Tokenless, Sequencerless L2

Exxit

Inspired by no training wheels, allow provably buggy code to trigger an exit.

If any of

  • a StateTransition has not been produced in >= 7 days (stuck)
  • someone submits two distinct proofs for the same data
  • someone shows a disagreement with an second state-transition implementation

Then enter Exxit mode

  • L1 sequencing halts
  • run an open L1 validator vote to select a new unilateral block sequencer
  • limit long-term chain functionality (e.g. an increasing fee-bomb)

If the chain is stuck, the vote includes the option to revert the last StateTransition.

Time to finality increases from L1-Bundle to 2x L1-StateTrasition, in cases where it’s possible to halt the chain.
Reverting a StateTransition may cause the contract to become insolvent on L1.
Like with prediction-market settlement, default selection could be centralized, and capital-challenged into an L1 vote.

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