Pudgy Penguins’ Abstract becomes second Ethereum layer 2 to shut in a week

Key Summary

Pudgy Penguins' Ethereum layer 2 abstract has become the second to shut down in a week, citing regulatory issues and high gas fees. The shutdown is attributed to the increasing complexity and regulatory hurdles faced by layer 2 solutions, making it challenging for developers to maintain the infrastructure. This development highlights the ongoing challenges faced by the Ethereum ecosystem, particularly with regards to scalability and regulatory compliance.