According to CoinMeta, the consumer-grade blockchain network abstract has announced that it will gradually cease operations and officially shut down on December 15, 2026. Users need to migrate their assets through migration, hub, or native cross-chain bridges before that date; any funds that are not migrated by the deadline will become inaccessible. The parent company of abstract, igloo, stated that the cost of independently operating a blockchain is too high, coupled with insufficient liquidity on the chain, a limited DEFI ecosystem, and declining market demand. abstract also mentioned that they have incurred tens of millions of dollars in losses over the past two years in order to maintain the operation of abstract and find profitable pathways. After shutting down abstract, igloo will reallocate its personnel and resources to pudgy, penguins, pudgy, nfts, and pengu.