Blur will shut its NFT frontend and stop matching new Blend loans on November 12, after monthly volume fell from $1.43 billion to under $7 million. Borrowers and BLUR holders are left with the protocol and no familiar interface.
Perspective Coverage
3 publishers
- Builder
- Builder 23%
- Operator
- Operator 27%
- Investor
- Investor 50%
Reality
- Evidence66
- Adoption4
- Hype gap+5
- Incentives
- Insufficient
- Confidence72
Igloo Inc., the Pudgy Penguins parent, will shut its Abstract layer-2 on Dec. 15 after 18 months of losses in the tens of millions of dollars. Funds not bridged off by then become inaccessible, and its chief executive says no Abstract token is coming.
Perspective Coverage
8 publishers
- Builder
- Builder 30%
- Operator
- Operator 31%
- Investor
- Investor 39%
Reality
- Evidence70
- Adoption25
- Hype gap+25
- Incentives50
- Confidence70
Blast and Abstract are closing their Ethereum layer 2 chains after both operators said running costs outran revenue, Igloo by tens of millions of dollars. Cheaper blob space lowered rollups' posting bills but not the cost of running a chain.
Reality
- Evidence45
- Adoption25
- Hype gap0
- Incentives
- Insufficient
- Confidence50
Abstract, the Igloo-backed Ethereum layer-2, is shutting down after its secured value fell more than 90% from a peak above $291 million. Its closure comes weeks after Blast's, and holders on smaller layer-2 chains now face fixed dates to move their funds before the bridges close.
Reality
- Evidence40
- Adoption30
- Hype gap+10
- Incentives35
- Confidence40
Blast is closing its Ethereum layer-2 after the chain earned $1,793 last month, down from about $3.5 million in June 2024. Revenue fell far faster than deposits, a pattern that fits an airdrop-era chain better than an industry-wide squeeze.
Perspective Coverage
8 publishers
- Builder
- Builder 26%
- Operator
- Operator 38%
- Investor
- Investor 36%
Reality
- Evidence72
- Adoption3
- Hype gap+15
- Incentives35
- Confidence74