#igloo关停abstract区块链聚焦pengu
Igloo is shutting down Abstract! 🔥
After burning tens of millions of dollars, Igloo has decided to stop trying to keep it afloat.
Igloo, the parent company of Pudgy Penguins, announced that it will shut down its Ethereum L2, Abstract. The network is scheduled to cease operations on December 15.
The most noteworthy part isn’t the shutdown itself, but what Igloo plans to do next:
👉 Igloo has continuously invested in Abstract over the past 18 months
👉 CEO Luca Netz revealed that cumulative losses have reached tens of millions of dollars
👉 Abstract attracted more than 400,000 users and hosted 144+ apps
👉 But limited liquidity, a small DeFi ecosystem, and low institutional participation ultimately brought growth to a standstill
More importantly:
Igloo has explicitly ruled out launching a token for Abstract and will no longer spend money to keep the chain running.
Going forward, resources will be refocused on Pudgy Penguins and PENGU.
This is a very real reminder:
Having users and a brand doesn’t guarantee that an L2 will succeed.
For Igloo, rather than continuing to subsidize a blockchain that hasn’t found product-market fit, it makes more sense to refocus resources on the PENGU ecosystem, which already has a strong brand and community.
Abstract is bowing out.
But Igloo’s next move may only just be getting started.
Igloo is shutting down Abstract! 🔥
After burning tens of millions of dollars, Igloo has decided to stop trying to keep it afloat.
Igloo, the parent company of Pudgy Penguins, announced that it will shut down its Ethereum L2, Abstract. The network is scheduled to cease operations on December 15.
The most noteworthy part isn’t the shutdown itself, but what Igloo plans to do next:
👉 Igloo has continuously invested in Abstract over the past 18 months
👉 CEO Luca Netz revealed that cumulative losses have reached tens of millions of dollars
👉 Abstract attracted more than 400,000 users and hosted 144+ apps
👉 But limited liquidity, a small DeFi ecosystem, and low institutional participation ultimately brought growth to a standstill
More importantly:
Igloo has explicitly ruled out launching a token for Abstract and will no longer spend money to keep the chain running.
Going forward, resources will be refocused on Pudgy Penguins and PENGU.
This is a very real reminder:
Having users and a brand doesn’t guarantee that an L2 will succeed.
For Igloo, rather than continuing to subsidize a blockchain that hasn’t found product-market fit, it makes more sense to refocus resources on the PENGU ecosystem, which already has a strong brand and community.
Abstract is bowing out.
But Igloo’s next move may only just be getting started.