New project on L2BEAT: @cartesiproject PRT Honeypot. Stage 2 Appchain with a (major) twist. ⚫ Before you ape into this, reconsider: You will lose all your funds. Why? 👇

‘Stage 2? Lose all funds? How is this possible?’ Excellent question: Remember that stages assess decentralization. They tell you whether you need to trust any permissioned intermediaries when doing what you do onchain.

But this Appchain has no intermediaries, and there is nothing to do as a user.

In this particular Appchain, actions are limited to donations to the honeypot. This is because its purpose is to test a new proof system developed by Cartesi: Permissionless Refereed Tournaments (PRT).

The Appchain serves as a bounty escrow on Ethereum, supposed to incentivize security researchers to break the PRT proof system and steal the escrowed funds.

The smart contracts on Ethereum are immutable and permissionless, consisting of an InputBox for deposits and withdrawal requests, an ‘Application’ contract for defining the minimal app logic and most importantly the PRT proof system contracts.

Cartesi built this project using their custom stack which allows validating the execution of a Linux virtual machine onchain. The PRT Honeypot application is written in C++ and configured to accept any CTSI deposits but only withdrawals by a single hardcoded address.

As the system is fully permissionless (anyone can submit or challenge state roots and deposit, all contracts are immutable) but has constrained application logic hardcoded on L1, it has the Appchain stage 2 designation.

All Risk Rosette details for Honeypot: Sequencer failure - Self Sequence 🟢 Users can self sequence transactions by sending them on L1. There is no privileged operator. State validation - Fraud proofs 🟢 Fraud proofs allow actors watching the chain to prove that the state is incorrect. Interactive proofs (INT) require multiple transactions over time to resolve. Data availability - Onchain 🟢 All of the data needed for proof construction is published on Ethereum L1. Exit Window - Not applicable ⚫ Users cannot exit their funds as all deposits are considered donations. Proposer failure - Self propose 🟢 Anyone can be a Proposer and propose new roots to the L1 bridge.

While we invite people to test and try to break the proof system, the Honeypot currently contains only $1175. Learn more about the Cartesi Honeypot on L2BEAT: