Abstract Ethereum Layer 2 to Shut Down December 15
Igloo Inc., the parent company of Pudgy Penguins, announced on October 6 that its Ethereum Layer 2 network, Abstract, will shut down on December 15. Users with funds remaining on the chain after this date will lose access. The consumer-focused blockchain had attracted over 400,000 users, hosted 144 deployed apps, and reached brands like Red Bull Racing and Disney.
The team cited a restricted DeFi ecosystem, thin on-chain liquidity, minimal institutional interest, and limited budget as key reasons for the shutdown. Launched in January 2025, Abstract aimed to bring everyday users into crypto through apps, games, and brand experiences, but these efforts proved unsustainable as a standalone model.
Users are advised to migrate their assets via the Migration Hub at migrate.abs.xyz or the native bridge at native-bridge.abs.xyz, which has a three-hour delay. The team warns of impersonator scams and urges users to verify any links through official channels before connecting their wallets.
The shutdown follows Blast's announcement to close its Ethereum Layer 2 by October 26, highlighting the challenges faced by consumer-focused Layer 2 networks in achieving long-term viability.