Pudgy Penguins’ Abstract Becomes Second Ethereum Layer 2 to Shut Down in a Week
Key Highlights: Luca Netz announced the closure of the Abstract blockchain following eight-figure losses, stalled growth, thin trading markets, and limited institutional interest. Parent company Igloo is shifting its full operational focus back to its core brand, Pudgy Penguins, its digital collectibles, and the associated PENGU token. Despite high on-chain activity and high-profile brand participation, ...