According to TechFlow, the blockchain project Abstract announced that its testnet has been officially launched. The Abstract testnet is powered by ZK Stack and runs as a Layer 2 (L2) network on the Ethereum Sepolia testnet.

Developers can use this testnet to test their applications and make sure everything is running smoothly before the mainnet launches later this year.

Earlier news, Igloo, Inc., the company behind Pudgy Penguins, announced the completion of a $11 million financing led by Founders Fund, with participation from Fenbushi Capital, 1kx, Everest Ventures Group and Selini Capital. Igloo plans to use the funds to establish a new entity, Cube Labs, to focus on blockchain technology development. Cube Labs will focus on the development of a blockchain called Abstract, which aims to simplify the adoption of cryptocurrency in consumer applications.