Pudgy Penguins’ Abstract becomes second Ethereum layer 2 to shut in a week
60-second summary
Pudgy Penguins’ Abstract, the second Ethereum layer‑2 to shut within a week, will close on Dec. 15 after its backer Igloo invested tens of millions to sustain it. The closure follows Blast’s announcement that its network is no longer viable. Both failures highlight the fragility of consumer‑focused rollups and could dampen investor confidence in emerging Ethereum scaling solutions.
The consumer-focused blockchain will close Dec. 15 after Igloo spent tens of millions supporting it, days after Blast said its own network was no longer worth operating.