Igloo, Pudgy Penguins' parent company, raised $11 million in a round led by Founders Fund to develop Abstract, a new consumer-focused Layer 2 blockchain. Abstract, built using ZK Stack and EigenDA, aims to simplify dApp development. The project is led by Michael Lee, Luca Netz, and Lorenzo Melendez, with a team of crypto personalities. Abstract's testnet is live, with mainnet launch expected by year-end. Founders Fund partner Joey Krug praised Pudgy Penguins' distribution edge, positioning Abstract to onboard mainstream users to crypto.