A few days after Blast also announced it was shutting down.
Abstract L2, the network behind Pudgy Penguins, is shutting down too.
It will officially cease operations on December 15.
It has processed 325 million transactions, generated over $6 billion in DEX trading volume, and brought in more than $40 million in ecosystem revenue.
But it still couldn’t stay afloat.
The official explanation cited a lack of DeFi activity, thin liquidity, and limited institutional participation. An L2 focused solely on Consumer Crypto is hard to sustain on its own.
More and more L2 networks are set to shut down.
Abstract L2, the network behind Pudgy Penguins, is shutting down too.
It will officially cease operations on December 15.
It has processed 325 million transactions, generated over $6 billion in DEX trading volume, and brought in more than $40 million in ecosystem revenue.
But it still couldn’t stay afloat.
The official explanation cited a lack of DeFi activity, thin liquidity, and limited institutional participation. An L2 focused solely on Consumer Crypto is hard to sustain on its own.
More and more L2 networks are set to shut down.