The generally accepted chemical mechanism of cleavage and ligation in the nucleolytic ribozymes, and the possible rate acceleration by general acid–base catalysis. In the cleavage reaction (red) the 2′-O attacks the 3′-P in an SN2 process leading to a trigonal bipyramidal phosphorane that is probably close to the transition state. This is consistent with observed inversion of configuration, although it should be noted that a constrained stepwise mechanism could conceivably result in inversion. Simultaneous breakage of the bond to the 5′-O leads to the cyclic 2′3′ phosphate and 5′-O products. In the ligation reaction (blue), the 5′-O nucleophile attacks the P of the cyclic phosphate. The cleavage reaction can be potentially catalyzed by a general base (X) assisting in the removal of the proton from the 2′-OH, and a general acid (Y) that protonates the 5′-O− oxyanion leaving group. By the principle of microscopic reversibility, X and Y will act as general acid and base, respectively, in the ligation reaction. They have arbitrarily been shown as neutral in the unprotonated states, although this is not necessarily the case.