DeFi ✓LaunchBar Newsroom 📅 October 12, 2026 at 05:00 AM ⏱ 2 min

$212M PENGU Unlock in Focus as Abstract L2 Winds Down

Abstract, the Ethereum L2 built by the Pudgy Penguins team, plans to shut down by December after failing to find product-market fit. Airdrop farmers are now demanding compensation in locked PENGU for the XP they earned over two years; no payout has been announced.

88.88B PENGU is the total supply.
About 26B tokens, worth roughly $212M, remain locked; they are allocated across the community, team and liquidity operations.
The shutdown is expected by December; the team has not confirmed any compensation plan.

LaunchBar take: This is a demand, not a confirmed distribution. Traders should watch for an official response: redirecting even part of the unlock to XP earners could shift sentiment, but assuming a payout now is pure speculation.

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