Igloo Inc
2 storiesThe organization behind Abstract blockchain developer is Igloo Inc, a Pudgy Penguins parent company also associated with consumer crypto holding company and Cube Labs technology subsidiary. Mass-market web3 applications, character brand incubation and blockchain consumer distribution broaden Igloo Inc's operating responsibilities beyond the headline product. A direct effect on Igloo Inc's handling of Abstract blockchain developer justifies this tag, whereas independent developments in collection-level activity, third-party marketplaces, individual games, network changes and token markets require their own pages.
Pudgy Penguins pulls the plug on Abstract blockchain after millions lost
Igloo is shutting down its Abstract Ethereum layer-2 network on December 15 after 18 months and heavy losses. Users now have just weeks to move their assets as the company returns focus to its main NFT business.
Abstract to shut down Ethereum Layer 2, users face December 15 withdrawal deadline
Abstract will close its Ethereum Layer 2 network on December 15. Over 400,000 users have only a short window to pull out their funds. The shutdown shows the risks of thin liquidity and weak DeFi for standalone chains.