Pudgy Penguins-backed Ethereum L2 Abstract to shut down after losing ‘tens of millions’
Abstract, a consumer-focused Ethereum Layer 2 network, said it will wind down operations and shut down the chain on Dec. 15, 2026, citing stagnant growth, thin liquidity, a restricted DeFi ecosystem and limited institutional adoption.Abstract said more than 144 apps were deployed on the chain and mo…