Pudgy Penguins Linked Abstract Chain Goes Live On Mainnet

In an astounding growth, Summary Chain, an Ethereum Layer-2 community launched by Pudgy Penguins’ mother or father firm, Igloo Inc., has gone dwell on the mainnet. Reportedly, the Ethereum-based Layer 2 blockchain is designed to empower crypto communities and facilitate user-centric Web3 functions.

Regardless of Summary Chain’s mainnet launch, Pudgy Penguins’ PENGU token has seen a large decline. Whereas the token’s descent aligns with the broader market pattern, the group stays anxious about its additional actions.

Igloo’s Summary Chain Sees Mainnet Launch

Summary Chain is now dwell on the mainnet, opening it as much as the general public for utilization. In keeping with a press release, Summary Chain is now obtainable for shoppers, with the mission of driving mass crypto adoption. Developed by Igloo Inc., the mother or father firm of the favored NFT assortment, Pudgy Penguins, Summary Chain focuses on offering a user-friendly expertise.

On January 26, Pudgy Penguins CEO Luca Netz shared an X publish saying Summary Chain’s mainnet launch. Netz proclaimed that the launch would happen on January 27, efficient right now.

MONDAY MAINNET ✳️🐧 https://t.co/Cp5naJdoB4

— Luca Netz 🐧✳️ (@LucaNetz) January 25, 2025

Commenting on the launch of Summary, Netz said,

The launch of Summary is greater than only a technical milestone—it’s a shift in how on a regular basis customers – and never simply crypto natives – expertise blockchain. We’ve constructed Summary to strip away the complexities of crypto, providing an intuitive and pleasurable expertise that empowers customers to discover and create effortlessly.

Igloo Introduces the Shopper Blockchain Platform- The Portal

In the meantime, the Summary Blockchain unveiled The Portal, which the L2 community describes as the patron blockchain platform. In a extra intriguing description, the blockchain community calls The Portal a “Digital Theme Park of Enjoyable” that revolutionizes the best way billions work together with blockchain technology.

The Portal permits customers to arrange a pockets utilizing simply their e-mail deal with, offering seamless entry to an enormous ecosystem that includes over 100 community-driven decentralized functions (dApps). The platform aligns with Summary’s imaginative and prescient of merging the simplicity of Web2 with the transformative potential of Web3.

Summary Chain’s Zero-Data Rollups

Leveraging ZKsync’s ZK stack, Summary Chain makes use of zero-knowledge rollups. Reportedly, it offers scalable and cost-effective on-chain options with decreased transaction charges.

In response to Summary’s mainnet launch, ZKsync co-founder Alex Gluchowski cited,

For blockchain to achieve the lots, we should summary away the complexity. Customers have to expertise higher apps, builders have to have extra engaged customers, and creators should be rewarded for his or her efforts – whereas chopping out pointless middlemen. Summary constructing for everybody, not simply Web3 power-users, is the trail to get the subsequent billion onchain.

Pudgy Penguins’ PENGU Token Falls 11%

Echoing the broader market sentiment, Pudgy Penguins’ PENGU token dropped by greater than 11% in a day regardless of Summary Chain’s mainnet launch. Primarily triggered by China’s DeepSeek AI launch, the crypto market is bleeding right now, with Bitcoin slipping under $99k.

As of press time, PENGU is exchanging arms at $0.2282, with a lower of 4.5% over the past seven days. In a month, the token has seen a large fall of 37%. Nonetheless, PENGU’s 24-hour buying and selling quantity has seen a hike of 48%, presently at $376 million. PENGU token’s substantial decline follows its final month’s outstanding surge that earned a staggering 14,500x return for an investor. With an preliminary funding of simply $6, the investor made a revenue of $87K.