Abstract, the consumer-focused Ethereum layer-2, will shut down on December 15 despite attracting over 400,000 users and hosting 144 applications, with partnerships from Disney and Red Bull Racing. The platform generates only $2,876 in daily revenue, roughly $1 million annualized, insufficient to cover the tens of millions of dollars lost by operator Igloo sustaining the network. By comparison, Coinbase-backed Base showed 83 times more DeFi TVL per active address, with $6.4 billion against Abstract’s $9.7 million. Users have until December 15 to bridge their funds out, or risk losing access to assets left on the chain. This shutdown illustrates how standalone chains cannot survive on cheap execution alone, without deeper liquidity or DeFi activity.
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