Abstract Airdrop

Problem Solved

While the market has matured significantly, we can still see complaints about high gas fees, slow transactions, and confusing products. Abstract seeks to eliminate these issues by providing a smoother, and more approachable user experience.

To solve scalability and cost problems, Abstract operates as an Ethereum Layer-2 using zero-knowledge proofs (zk-rollups) for efficiency. Transactions are executed off-chain and batch-validated on Ethereum, which is a common strategy that drastically lowers fees and latency while retaining Ethereum’s security. This approach should give Abstract high throughput and security guarantees. To tackle UX challenges, Abstract introduces familiar onboarding with account abstraction – users can create wallets with email or passkeys instead of seed phrases.

This lowers the technical barrier, making crypto apps feel as easy as Web2 services. Abstract also emphasizes discoverability: its Portal provides a curated hub where users can find and use top apps seamlessly, “abstracting” away the complexity of interacting with different dApps. By focusing on community and culture as core pillars, the chain cultivates an engaging ecosystem that is welcoming to newcomers. In short, Abstract’s design addresses three common blockchain adoption hurdles – cost, complexity, and culture – to pave the way for mainstream-friendly crypto usage.

Tokenomics

As of early 2025, Abstract has not yet launched a native token for its network. In fact, the Layer-2 currently has no separate gas token – users pay transaction fees in Ethereum (ETH), similar to other rollups. This means Abstract can operate without forcing a new coin for basic usage, which keeps things simple for now. However, a governance/token launch is anticipated.

The team has outlined a Panoramic Governance model in which a future governance token would play a key role: token holders are expected to receive a share of the network’s sequencer fee revenue and help direct ecosystem incentives. This implies that when a token emerges, it will likely have some utility (governance votes and possibly staking to earn network fees) rather than being a pure “gas” token.

On distribution, Abstract’s ethos suggests an emphasis on community rewards. The project introduced an XP point farming program alongside mainnet to reward active users, developers, and content creators. Users earn experience points by using apps on Abstract, and developers earn monthly rewards based on their dApp’s success. These points and badges could translate into token allocations later, aligning with Abstract’s goal of rewarding those who grow the ecosystem. Early backers have also provided funding (e.g. Founders Fund, 1kx, Fenbushi Capital in a $11M round), so any tokenomics will need to account for investor, team, and community allocations.

Perspectives

Abstract’s goal is to become the go-to blockchain for consumer-facing applications, like games, social apps, and NFT platforms. Instead of targeting DeFi power users, it aims to bring in a broader audience by simplifying wallets, fees, and the app experience. If it succeeds, Abstract could capture a user base that many other chains ignore.

The project’s growth strategy is phased: focus first on fun and social use cases with broad appeal, then gradually expand into other areas like DAOs or digital infrastructure. Its curated app portal, low fees, and passkey wallets are all designed to feel intuitive to non-crypto users. Whether that approach catches on depends on real-world app traction.

Challenges include fierce competition among L2s and the need to sustain user interest beyond airdrop hype. Long-term success hinges on whether developers can build sticky apps that retain users, and whether Abstract can maintain its cultural branding without being outpaced by copycats. Still, the combination of user-friendly design, strategic focus, and strong early traction gives Abstract a credible shot at standing out in the next wave of Layer-2 adoption.

Founders and Team

Abstract is being built by a collaboration of the Pudgy Penguins team and seasoned Layer-2 developers, blending community savvy with technical expertise. The project’s driving force is Igloo Inc., the parent company of Pudgy Penguins led by CEO Luca Netz. Luca Netz is known for turning Pudgy Penguins into a global NFT brand, and he brings a strong consumer product mindset to Abstract’s development. In mid-2024, Igloo made a strategic talent acquisition: they acquired the team from Frame, an NFT-centric L2 platform, to bootstrap Abstract’s development.

Frame’s co-founders, known in the Ethereum community by handles Cygaar and Beans, are notable blockchain engineers who had been building on-chain creator economy tools. They joined Igloo to lead Abstract’s technical implementation, bringing deep knowledge of smart contracts and Layer-2 architecture. This combination of the Frame dev team with Igloo’s community builders means Abstract’s core team covers both technical and cultural domains.

Also involved is Cube Labs, an initiative created to contribute towards the development of Abstract alongside Pudgy’s team. CEO of Cube Labs is Michael Lee, an experienced professional with a background in the tech and gaming industries. He previously helped incubate and launch the ZKsync protocol (ZK) and led the Activision Blizzard community of over 400 million players.

Already, this team has delivered – they launched Abstract’s testnet and mainnet on schedule and onboarded over 100 dApps by launch, indicating strong execution capabilities. Going forward, the founders and core developers will need to maintain this pace, while gradually decentralizing control. Given their track record and the clear passion for the mission, the Abstract team appears well-equipped to build and grow the network. Airdrop hunters can take some confidence in the fact that this isn’t a fly-by-night project, but one led by known builders with a long-term vision.

Funding

Abstract has secured a solid financial runway through its early fundraising and strategic moves. In 2024, Igloo Inc. (Abstract’s parent company) raised $11 million in a strategic round dedicated to building Abstract. This round was led by Peter Thiel’s Founders Fund and joined by crypto-focused VCs 1kx and Fenbushi Capital, among others. The injection of $11M has been instrumental in developing the network’s infrastructure and recruiting top talent and partners. It’s a good sign that well-known investors backed Abstract before it even launched – this typically means thorough due diligence and confidence in the concept and team.

In addition to venture funding, Abstract effectively acquired resources via its purchase of Frame in mid-2024. While this was primarily a talent/tech acquisition, it underscores that Igloo was willing to invest further to accelerate Abstract’s roadmap. That move brought in an experienced development team without a separate costly funding round. It’s not public what the acquisition cost was, but presumably part of the raised funds or Igloo’s own capital was used. 

With mainnet live and a growing ecosystem, one question is whether Abstract’s financial resources are sufficient for the next phases. The current backing should cover development through launch and initial growth. The project also has the option to introduce a token – which, if done, can unlock substantial funding via token sales or initial valuation. For now, the treasury seems adequate and well-managed: building on an existing ZK-stack reduces R&D cost, and the team is focusing funds on developer grants and user incentives (the XP rewards) to spur adoption.

The involvement of Founders Fund and other investors also suggests they could support future fundraising if needed. Overall, Abstract’s funding situation appears healthy for growth – it’s not over-capitalized but has enough backing to execute its vision.

Community

Abstract has rapidly built one of the most vibrant communities in the Layer-2 space, thanks to its roots in the Pudgy Penguins fandom and an aggressive growth campaign. On social media, the numbers speak volumes: the project’s X (Twitter) account exploded to over 680,000 followers in less than an year, and its Discord surpassed 100,000 members even before mainnet launch. This is an unusually large following for a brand-new chain, reflecting both genuine interest and the power of airdrop speculation. The team’s community-building strategy has been highly effective.

They leaned into the culture and community pillar – Abstract is “deeply rooted in community and culture” by design. This is evident in how they engage users: the official Abstract Portal incorporates social features like streaming and community leaderboards, making the user experience feel like joining a social network rather than just using a wallet. By fostering “community vibes” inside the product itself, Abstract keeps users connected and active.

Another key move was the launch of the Abstract Incentives program. By rewarding users with XP points and badges, Abstract gave the community immediate reasons to try apps and stay involved. The result: even during testnet, usage spiked. In fact, one core developer noted (half-jokingly) that the testnet saw 10 million transactions in two weeks from users simply transferring ETH between wallets – clear evidence of airdrop hunters at work. While some of this activity is superficial, it demonstrates that the community is highly engaged and anticipating future rewards.

More substantively, Abstract’s community includes many developers and creators lured by its promise of shared success. The chain’s early partnership with platforms like Magic Eden and popular Web3 games indicates that communities from those projects are also rallying around Abstract. Furthermore, Pudgy Penguins itself has a loyal community of collectors, many of whom see Abstract as the next extension of the Penguins’ world and are eager to support it.

Competitors

The Layer-2 space is already highly saturated, with a multitude of Ethereum-based rollups and general-purpose blockchains competing for developers, users, and liquidity. But beyond technical similarities, Abstract is competing for attention in a broader consumer space, meaning any blockchain with an app ecosystem is a rival — not just L2s.

Notable Ethereum-based competitors include Arbitrum, Optimism, zkSync, and Base, all of which offer similar infrastructure and boast strong ecosystems. However, Abstract’s more direct challengers are projects pursuing culture-forward or entertainment-focused narratives — especially chains like Berachain, which pair high-engagement branding with token incentives and gamified UX. These chains are chasing the same audience: casual users, creators, and meme-savvy crypto natives.

Abstract’s differentiation is in its onboarding simplicity and its early ecosystem alignment with consumer apps and communities like Pudgy Penguins. But it will need to maintain this lead and avoid becoming a clone in a sea of copy-paste L2s. To succeed, Abstract has to turn its early momentum and branding into real usage, especially as more fun-centric chains rise with similar ambitions and deeper pockets.

Other Details

Abstract has not announced an official airdrop yet, however, the project launched an XP campaign that incentivizes user interaction with Abstract’s mainnet, which launched in January 2025. XP serves as a gamified reward system, similar to loyalty points, where users "level up" by completing tasks. Users earn XP through on-chain activities like using apps, trading, bridging assets, or engaging socially (e.g., upvoting apps or joining community platforms). Accumulated XP may determine eligibility and reward size in a future airdrop, though no official token release has been confirmed.

Abstract’s mainnet, powered by ZKSync’s ZKStack, supports over 120 projects, including NFTs, gaming, and meme coins. The XP system encourages exploration of these projects via the Abstract Global Wallet, which simplifies onboarding with email-based access. Activities are validated on-chain for fairness. The more XP earned, the higher the potential airdrop allocation, aligning with Abstract’s consumer-first approach.