Odaily Planet Daily News Crypto consumer application Abstract announced that its testnet has been launched on X, which is powered by ZK Stack and runs as L2 on Ethereum Sepolia testnet. Developers can use this testnet to test applications and ensure smooth operation before the launch of Abstract mainnet later this year. Earlier news, Pudgy Penguins' parent company Igloo, Inc. announced the completion of more than $11 million in financing, led by Founders Fund, and participated by Distributed Capital, 1kx, Everest Ventures Group and Selini Capital. Igloo plans to invest this strategic financing in the development of its new business Cube Labs. Cube Labs will oversee and participate in the development of Abstract as a contributor. This is a new blockchain focused on consumption, aimed at promoting the mainstreaming of encryption. Abstract is incubated by the non-profit Abstract Foundation, allowing billions of people to go online for the first time, and its testnet will be launched soon.