Paleozoic Hallucigenia

 This card derives its name from Hallucigenia, a genus of extinct Cambrian animal found as fossils in the Burgess Shale Formation in the Canadian Rockies of British Columbia, Canada.

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Its Effect are a Reference to the Quick-Play Spell Shrink.

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OCG Rulings

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The effect "Target 1 face-up monster on the field; its ATK and DEF become half its current ATK and DEF until the end of this turn" is the effect resolution of the activation of the card "Paleozoic Hallucigenia". (The effect targets 1 face-up monster in either player's Monster Zone.): Paleozoic Hallucigenia

If the card "Paleozoic Hallucigenia" is activated during the Damage Step, it can be activated from the start of the Damage Step until before damage calculation.

The effect "Once per Chain, when a Trap Card is activated while this card is in your Graveyard: Special Summon this card as a Normal Monster (Aqua-Type/WATER/Level 2/ATK 1200/DEF 0). (This card is NOT treated as a Trap Card.) If Summoned this way, this card is unaffected by monster effects, also banish it when it leaves the field" is activated in the Graveyard and makes a Chain Link. (It cannot be activated during the Damage Step.)

The effect "Special Summon this card as a Normal Monster (Aqua-Type/WATER/Level 2/ATK 1200/DEF 0). (This card is NOT treated as a Trap Card.)" does not target. It is activated directly in Chain to the activation of a Trap Card. (It cannot be activated in Chain to the activation of a Trap Card's effect.)

The effect "banish it when it leaves the field" does not make a Chain Link.

When you activate "Paleozoic Hallucigenia", you can target a monster with 0 ATK and DEF. (In that case, the monster's ATK and DEF remain 0.): Can the card "Paleozoic Hallucigenia" be activated by targeting a card with 0 ATK and DEF?