Since micro evolution requires a loss of genetic code over time
Microevolution does not in any sense rely on a "loss of genetic code" over time. Rather, it relies on the differential reproductive success experienced by individuals in a population as a result of their varying heritable traits. And the reason their heritable traits vary, and they're not simply all clones of each other, is because of random mutation.
The individuals selected for, and the individuals selected against, all have the same amount of genetic code.
Okay, but now you still have no oxygen to allow for any sort of chemical reaction...unless you're saying that the reaction would take place completely underwater??
All chemical reactions performed by living things take place in water, which is why water is such a crucial component of life. Biochemistry is completely impossible until the components of the cell are in aqueous solution.
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