Ethereum Layer-2 Network Abstract Launches, Offering XP Rewards for Users

Abstract, the consumer-focused Ethereum layer-2 network from Pudgy Penguins parent company Igloo Inc, is now live with Monday’s launch of its mainnet.

The company raised $11 million in June 2024 with the goal of bringing billions of new users on-chain and becoming the leading blockchain for consumer crypto products and apps. 

“For too long, the industry has prioritized technology over user experience, creating barriers to mainstream adoption,” said Abstract co-founder and Pudgy Penguins owner Luca Netz in a statement. He added that “it’s a shift in how everyday users—and not just crypto natives—experience blockchain.”

To appeal to a broader audience, Netz and company have stripped away onboarding hurdles that have typically intimidated new users. For example, its native Abstract Global Wallet will allow users to participate on-chain with an email address, without the requirement of a secret recovery phrase.

“We've spent the past year reimagining what it means to create crypto experiences that put consumers first. What we're unveiling today reflects those efforts—a first-of-its-kind consumer terminal, a frictionless wallet with limitless capabilities, and a chain powering dozens of consumer-friendly crypto applications,” said pseudonymous Abstract developer and Cube Labs CTO, Cygaar.

Abstract is expected to have around 120 projects live on mainnet on day one, ranging from infrastructure to NFTs and meme coins, with more than 350 projects and applications to launch throughout the year according to an interview with pseudonymous marketing leader Phin.

MYRIAD Launches on Abstract as Mainnet Goes Live

MYRIAD, the decentralized prediction market launched by Decrypt’s parent company DASTAN, launched on Abstract today, as the layer-2 blockchain’s mainnet went live. Following the launch, MYRIAD is one of the main apps featured on Abstract’s portal for the Abstract Global Wallet (AGW), enabling users to quickly and seamlessly access the MYRIAD prediction market and quests. What Is Abstract? The Consumer Crypto Blockchain From the Creators of Pudgy Penguins “We’re thrilled to have MYRIAD as one of...

To get started with Abstract, users can visit abs.xyz to create a global wallet and onboard funds by bridging from another blockchain or using MoonPay or Coinbase.

Users participating on the mainnet will have the opportunity to earn XP—the network’s native reward system that can be likened to credit card rewards points or video game point accruals.

9 Biggest Games Launching on Ethereum Layer-2 Network Abstract

Ethereum layer-2 network Abstract is building out its ecosystem with a growing list of consumer applications—including a major focus on gaming.  The chain’s most recent update indicates that at least 33 games or gaming-related projects will have some connection to the ecosystem after the Abstract mainnet launches this January.  To prepare you, we’ve highlighted 9 of the most anticipated games set to launch on Abstract. How to Prepare for Abstract: The Consumer-Focused Ethereum Blockchain Pudgy W...

By using apps and engaging with projects on the network, users will earn XP which can be used to “level up” to potentially unlock rewards and more. 

Abstract’s mainnet launch is powered by ZKSync’s ZKStack technology, utilizing zero-knowledge cryptography for fast, secure, and scalable transactions. Like other Ethereum scaling networks, including Base and Arbitrum, Abstract delivers faster and cheaper transactions than Ethereum’s own mainnet.

Edited by Andrew Hayward