Original author: Nicky, Foresight News

The price of Pudgy Penguins' ecosystem token, PENGU, has seen a significant increase over the past month. According to Bitget data, from June 23 to July 23, 2025, its maximum increase exceeded 500%, currently trading at $0.038. Simultaneously, the floor price of the Pudgy Penguins NFT series has also risen by over 50%, currently trading at 15.8 ETH (approximately $61,000).

On July 31st, it was officially announced that Pudgy Penguins and the Abstract team had officially taken on advisory roles to the US government, participating in the design of cryptocurrency-related legislation. The team has made multiple trips to Washington, D.C., for policy consultations. Furthermore, Penguin has submitted an application to regulators to launch a spot ETF product covering NFT and token assets.

Riding the wave of cryptocurrencies in US politics, the company's team also celebrated the one-year mainnet launch of Abstract Chain, another project they worked on. Can this L2 platform stand out from its competitors?

As an Ethereum Layer 2 network under Pudgy Penguins' parent company Igloo Inc., Abstract Chain was formerly the on-chain creator economy platform Frame. Its vision is to build a blockchain infrastructure focused on "consumer-grade crypto experience."

Its technical foundation utilizes zkSync's ZK technology and EigenDA's data availability solution, operating as an Ethereum Layer 2, while providing low-cost and high-speed transactions. Its official website clearly states: "We don't strive to be the 'fastest' or 'most complex' chain, but rather focus on 'easiest to use'—making it as seamless for novice users to engage with blockchain as they would with Web 2 applications."

The project received early investments from institutions such as Founders Fund, Fenbushi Capital, and 1kx. In July 2025, Pudgy Penguins CEO Luca Netz revealed that Abstract was seeking a new round of funding and exploring ways for the community to participate in the fundraising. At the same time, Abstract will continue to optimize its iOS experience and its portal app, Portal, with the goal of lowering the barrier to entry for Web 3.

One year of progress: From infrastructure to ecosystem

As of July 2025, the total locked value (TVL) of the Abstract Chain network reached US$45 million, and the cumulative number of transactions processed exceeded 100 million.

Abstract Chain's ecosystem revolves around "consumer-level scenarios." Its official account has recently frequently forwarded the following collaborative projects:

1. Onchain Heroes: An idle RPG running on Abstract Chain, powered by Proof of Play. Players send heroes on adventures, earn HERO tokens, craft equipment, and compete on leaderboards. The floor price of its Genesis Hero NFT is currently 0.14 ETH, and the HERO token has a market capitalization of approximately $10.5 million.
2. Moonsheep (SHEEP): Adopting the innovative DN-404 standard (integrating ERC-721 and ERC-20), it is positioned as a hybrid project that integrates the spread of Meme coins with the brand depth of NFT.
3. Death.Fun: A high-risk, high-reward on-chain game. Players place bets, choose safe blocks to avoid "death squares," and accumulate multipliers, with the option to settle their profits at any time.

In addition, Abstract Chain recently announced a partnership with Modhaus, a South Korean K-pop agency that owns top girl groups such as tripleS and ARTMS.

Meme and Community: "Cultural Symbols" Led by Pengu

The meme coins currently holding the highest market capitalization on Abstract Chain have become key drivers of its ecosystem's vitality. Among them, Pengu, with a market capitalization of $2.3 billion, maintains its top position. Memes centered around the "Penguin" IP, such as ABSTER (market capitalization $32 million) and NOOT (market capitalization $14 million), have forged unique identities through storytelling and community consensus.

For example, ABSTER calls itself "a legendary penguin deeply rooted in the Abstract Chain code." Its "inescapable" setting strengthens users' perception of its "on-chain cultural symbol." NOOT attracts users with its "retro penguin sentiment," echoing the early community memories of Pudgy Penguins.

One year after its founding, Abstract Chain has made initial progress in transaction volume, TVL, and ecosystem project incubation, particularly leveraging the influence of Pudgy Penguins' community to attract users and developers. Its focus on consumer-grade experience and lowering barriers to entry is clear, and its collaboration with K-Pop also demonstrates its efforts to break through the boundaries of off-chain culture.

However, how to surpass the popularity of Meme coins and cultivate consumer-grade applications with real lasting vitality and broad user stickiness remains the core challenge facing Abstract Chain and its ecosystem builders.

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