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Igloo Inc Raises $11 Million to Develop Ethereum Layer 2 AbstractChain

Jul 23, 2024, 03:36 PM

Igloo Inc, the parent company of Pudgy Penguins, has successfully raised over $11 million in a funding round led by Peter Thiel's Founders Fund. The funds will be used to develop AbstractChain, a new Ethereum Layer 2 blockchain aimed at bringing the next generation of crypto users on-chain. Other contributors to the funding include Fenbushi Capital, 1kx Network, EVG, and Selini Capital. The new blockchain, Abstract, is designed for consumer crypto applications and will be overseen by Cube Labs, a newly established entity under Igloo Inc.

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Will AbstractChain achieve 100,000 transactions by February 28, 2025?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

No • 50%

Yes • 50%

Transaction data from Igloo Inc or Cube Labs, verified by blockchain explorers like Etherscan or Blockchair

Will AbstractChain have 10,000 active users by March 31, 2025?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

No • 50%

Yes • 50%

User activity data from Igloo Inc or Cube Labs, verified by blockchain analytics platforms like Dune Analytics or Glassnode

Will Igloo Inc launch AbstractChain mainnet by December 31, 2024?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

Yes • 50%

No • 50%

Official announcement from Igloo Inc or Cube Labs, verified by major crypto news outlets like CoinDesk or CoinTelegraph

What will be the first major dApp launched on AbstractChain by June 30, 2025?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

NFT dApp • 25%

Other • 25%

Gaming dApp • 25%

DeFi dApp • 25%

Official announcements from Igloo Inc or Cube Labs, verified by major crypto news outlets like CoinDesk or CoinTelegraph

What will be the total value locked (TVL) on AbstractChain by June 30, 2025?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

$50 million - $100 million • 25%

Less than $10 million • 25%

More than $100 million • 25%

$10 million - $50 million • 25%

TVL data from Igloo Inc or Cube Labs, verified by blockchain analytics platforms like DeFi Pulse or DappRadar

Which major entity will Igloo Inc announce a partnership with for AbstractChain by December 31, 2024?

Igloo Inc•Pudgy Penguins•Peter Thiel•Founders Fund•AbstractChain•Fenbushi Capital•1kx Network•EVG•Selini Capital•Abstract•Cube Labs

Resolution / Starting Odds

Other • 25%

Ethereum Foundation • 25%

Binance • 25%

Coinbase • 25%

Official announcements from Igloo Inc or Cube Labs, verified by major crypto news outlets like CoinDesk or CoinTelegraph