Our Summary:Pudgy Penguins' parent company, Igloo, will shut down its Abstract layer 2 on December 15, 2026, due to insufficient revenue to cover operating costs. Approximately $76M in assets remain on the network, and users must move their holdings before the deadline to avoid losing access to funds. The shutdown is the second Ethereum-linked layer 2 to announce a closure in less than a week, following Blast's decision on October 2.

Our Summary:Pudgy Penguins' Ethereum Layer-2, a platform focused on consumer crypto, will shut down on December 15, citing unsustainability. The platform is urging users to bridge their assets off before the shutdown, which aims to prevent user losses. The decision comes after the platform realized that a chain focused solely on consumer crypto proved unsustainable.