Abstract announces chain closure: With brands and users, why can't we still afford a chain?

TechFlow, October 6, Xiao Pie reported: Igloo Inc., as the parent company of Puggy Penguins, announced that its L2 network Abstract built on Ethereum will close its main network on December 15 and will gradually cease operations in the future. According to the announcement, access rights to assets on the chain will be permanently lost after this date. It is worth noting that this news was released only a few days after the Blast network announced its shutdown, but the path of its demise is fundamentally different from that of Blast. Blast's closure stems from the hollowing out of the market. Its TVL plummeted to a 98% decline of US$2.27 billion before the closure, and only recorded revenue of US$110 in the trading day before the closure. The end of Abstract points to deeper industry risks. During its operations, it has served a total of 400,000 users, supported 4 million wallets, accessed 144 applications, processed 325 million transactions, and established cooperative relationships with entities such as Red Bull Racing.