Pudgy Penguins' Ethereum Layer-2 Abstract Is Shutting Down

Pudgy Penguins' Ethereum Layer-2 network, Abstract, will shut down on December 15, urging users to move their assets off the network before then. The team cited a limited DeFi ecosystem, thin liquidity, and a smaller budget as reasons for the shutdown.

Why it matters. Users of Abstract will lose access to their funds if they do not migrate their assets off the network by the deadline.