We give an algebro-geometric interpretation of $C_2$-equivariant stable homotopy theory by means of the $b$-topology introduced by Claus Scheiderer in his study of $2$-torsion phenomena in etale cohomology. To accomplish this, we first revisit and extend work of Scheiderer on equivariant topos theory by functorially associating to a $infty$-topos $mathscr{X}$ with $G$-action a presentable stable $infty$-category $mathrm{Sp}^G(mathscr{X})$, which recovers the $infty$-category $mathrm{Sp}^G$ of genuine $G$-spectra when $mathscr{X}$ is the terminal $G$-$infty$-topos. Given a scheme $X$ with $1/2 in mathcal{O}_X$, our construction then specializes to produce an $infty$-category $mathrm{Sp}^{C_2}_b(X)$ of $b$-sheaves with transfers as $b$-sheaves of spectra on the small etale site of $X$ equipped with certain transfers along the extension $X[i] rightarrow X$; if $X$ is the spectrum of a real closed field, then $mathrm{Sp}^{C_2}_b(X)$ recovers $mathrm{Sp}^{C_2}$. On a large class of schemes, we prove that, after $p$-completion, our construction assembles into a premotivic functor satisfying the full six functors formalism. We then introduce the $b$-variant $mathrm{SH}_b(X)$ of the $infty$-category $mathrm{SH}(X)$ of motivic spectra over $X$ (in the sense of Morel-Voevodsky), and produce a natural equivalence of $infty$-categories $mathrm{SH}_b(X)^{wedge}_p simeq mathrm{Sp}^{C_2}_b(X)^{wedge}_p$ through amalgamating the etale and real etale motivic rigidity theorems of Tom Bachmann. This involves a purely algebro-geometric construction of the $C_2$-Tate construction, which may be of independent interest. Finally, as applications, we deduce a $b$-rigidity theorem, use the Segal conjecture to show etale descent of the $2$-complete $b$-motivic sphere spectrum, and construct a parametrized version of the $C_2$-Betti realization functor of Heller-Ormsby.
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