According to CoinMeta, Igloo Inc, the parent company of Pudgy Penguins, has announced that it will shut down its Abstract blockchain on December 15th. This Ethereum layer-2 network has encountered difficulties in expanding consumer cryptocurrency services. The team stated that limited DEFI activity, insufficient liquidity, limited adoption by institutions, and a small budget have made operating the chain unsustainable. Users need to bridge their assets out of the network by December 15th; any funds that are not transferred by that deadline will no longer be accessible.