Abstract will cease operating its Ethereum Layer 2 network on December 15, 2026, after parent company Igloo concluded that a standalone, consumer-focused chain was unsustainable. Igloo said it lost tens of millions of dollars over two years while seeking product-market fit and profitability. Users must move assets through the Migration Hub or Abstract's native bridge, which has an expected three-hour delay, before the deadline or lose access to their funds. Abstract cited high operating costs, a restricted DeFi ecosystem, thin liquidity, limited institutional crossover, weaker market demand and a smaller budget than competitors. The network reported more than 325 million transactions, over $6 billion in decentralized exchange volume and more than $40 million in ecosystem revenue. Igloo will refocus resources on Pudgy Penguins, Pudgy NFTs and PENGU, while Abstract's engineering and ecosystem teams help projects migrate to other chains.