In a bowl stir together the 500 grams of flour and 375 grams of water until combined and you have a shaggy dough.
Set aside and allow dough to rest for 20 minutes.
In a small bowl stir together 2 tablespoons water with the yeast. Set it aside and let it rest alongside the dough.
After the dough has rested for 20 minutes sprinkle the dough with the salt.
Stir the yeast water and pour it over the dough.
Wet your hands so the dough doesn't stick to them and begin the stretch and folds. Grab one edge of the dough, pull it up and fold it into the center of the bowl. Turn the bowl a quarter turn and repeat the process several times.
Take one wet hand and start pinching the dough into 5 or 6 sections. Fold the dough over onto itself and pinch the dough again into 5 or 6 sections.
Continue pinching and folding dough over until the salt and the yeast water is fully incorporated into the dough, about 8-10 times.
Cover the bowl with a dish towel and allow dough to rest for an hour.
After an hour, do another series of stretch and folds. Wet your hands to prevent sticking and grab one edge of the dough, pull it up and fold it into the center of the bowl. Turn the bowl a quarter turn and repeat the process several times.
Keep stretching and folding until dough starts to tighten up and you are able to form the dough into a loose ball.
Grease another bowl with some olive oil.
Take the dough ball and transfer it to the greased bowl with the smooth side facing up. Drizzle the top of the dough ball with a little olive oil and use your hand to coat the entire ball of dough with the oil.
Cover the bowl with plastic wrap and let the dough rise until it has doubled in volume, about 5-6 hours.
Once the dough has doubled in volume turn it out onto a lightly floured surface.
Cut dough in half.
Stretch out one half of the dough by grabbing one edge and pulling up until you feel resistance, then fold it into the center. Repeat until you have repeated this process 4-5 times and you have formed the dough into a loose ball.
Pull the ball towards you cupping it in both hands, stretching the top of the dough and forming a tighter ball as you pull the ball of dough towards you. Repeat this process, pulling the ball of dough towards you tightening the ball of dough until you have a smooth, tight ball of dough.
Transfer the ball of dough onto a greased plate and repeat this process with the second half of the dough.
Lightly grease the two balls of dough with olive oil, cover with plastic wrap and allow the dough to rest for an hour.
After an hour transfer each ball of dough onto a sheet of plastic wrap and wrap tightly.
Place wrapped dough balls in the refrigerator for up to 2 days.
NOTE: Dough can be frozen at this point for longer storage. When ready to make pizza, remove dough from the freezer and thaw in the refrigerator overnight.