BlockchainCrypto

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

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 07/10/2026, 04:40:23 UTC.

Briefings

A consumer-focused Ethereum layer 2 network called Igloo shut down on December 15, 2026, following a $100 million investment from the Pudgy Penguins ecosystem. This marks the second such network to close in a week, with Blast's network also ceasing operations shortly after. The event highlights the rapid volatility in Ethereum layer 2 adoption during this period.

Key points

• Igloo, a consumer-focused Ethereum layer 2 network, closed on December 15, 2026, after spending tens of millions of dollars on its development.
• Blast's network also ceased operations shortly after, making it the second layer 2 network to shut down in a single week.

Context

This event occurred during a period of rapid experimentation with Ethereum layer 2 solutions, where several networks have failed to sustain operations despite initial investment.

Limitations

The evidence is limited to the specific closure dates and investment figures for Igloo and Blast. No additional details about the technical failures, user impact, or reasons for the shutdowns beyond the stated facts are provided.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 25/10/2026, 03:32:16 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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