⚡ Pudgy Penguins Closes Abstract
Igloo, the company behind Pudgy Penguins, said it is shutting down its Abstract L2 on December 15 after losing tens of millions of dollars funding the chain, becoming the second Ethereum-linked network to announce a shutdown in under a week.
About $76M remained on the network as of Wednesday; users must bridge assets off before the deadline or lose access to them.
It follows Blast's shutdown last week, the Paradigm-backed L2 that cited the same unsustainable economics. $PENGU
Igloo, the company behind Pudgy Penguins, said it is shutting down its Abstract L2 on December 15 after losing tens of millions of dollars funding the chain, becoming the second Ethereum-linked network to announce a shutdown in under a week.
About $76M remained on the network as of Wednesday; users must bridge assets off before the deadline or lose access to them.
It follows Blast's shutdown last week, the Paradigm-backed L2 that cited the same unsustainable economics. $PENGU