Pudgy Penguins Parent to Shut Down Abstract Blockchain on December 15

Igloo Inc., the parent company behind Pudgy Penguins, has announced plans to shut down its Ethereum Layer-2 network, Abstract, on December 15.
The team cited limited DeFi activity, thin liquidity, weak institutional adoption and budget constraints as major reasons for the decision. Despite its focus on consumer crypto, Abstract reportedly struggled to attract enough activity to sustain operations.
Users have been instructed to bridge their assets off the network before the shutdown deadline. According to the announcement, funds remaining on Abstract after December 15 could become inaccessible.
The closure highlights the challenges facing smaller Layer-2 networks as competition for users, liquidity and developer activity intensifies.