Abstract, the Ethereum Layer 2 built by Pudgy Penguins parent Igloo Inc., will shut down on December 15, and the team has told users that any funds still on the chain by that date will become inaccessible, according to the project’s announcement published on October 6. The wind-down ends a consumer-focused network that had onboarded more than 400,000 users and attracted brands including Red Bull Racing and Disney.
Igloo launched Abstract in January 2025 as a home for consumer crypto, betting that the reach of the Pudgy Penguins brand could bring everyday users onchain. The chain chased mass-market adoption through apps, games, and brand experiences rather than the DeFi-heavy approach taken by many rival Layer 2 networks.
