Pudgy Penguins' Abstract L2 Shuts Down Dec. 15 After 8-Figure Losses
• Abstract, the Ethereum L2 backed by Igloo (Pudgy Penguins' parent), closes Dec. 15
• Igloo lost "8 figures" over 18 months, and no token will be launched
• 400,000+ users and 144 apps were not enough to build liquidity
A consumer-only chain without real DeFi depth could not stand alone, and Abstract is another reminder that many L2s will not survive. Users must bridge out before Dec. 15. Not financial advice, DYOR.
$ETH
• Abstract, the Ethereum L2 backed by Igloo (Pudgy Penguins' parent), closes Dec. 15
• Igloo lost "8 figures" over 18 months, and no token will be launched
• 400,000+ users and 144 apps were not enough to build liquidity
A consumer-only chain without real DeFi depth could not stand alone, and Abstract is another reminder that many L2s will not survive. Users must bridge out before Dec. 15. Not financial advice, DYOR.
$ETH
