Why Abstract is killing its Ethereum L2 instead of launching a token to save it
Abstract, an Ethereum layer-2 network, will shut down on Dec. 15 after struggling with weak growth, shallow DeFi liquidity, low revenue and limited institutional adoption. Despite onboarding more than 400,000 users and hosting 144 apps, it generated only about $2,876 in daily chain revenue, compared with Base’s far larger activity and liquidity. Users must move assets before the deadline or funds left on-chain will become inaccessible. The closure follows similar wind-downs or migrations by Blast, Silicon and Sophon, highlighting the high costs of operating standalone rollups. With cheap transactions now widespread, networks increasingly need strong liquidity, distribution, app revenue or institutional use to justify their infrastructure costs.
