Solana Protocols Orca and Loopscale Merge Under Formation
The new entity will combine trading, lending and investment infrastructure while expanding into capital-intensive sectors including AI, energy, robotics and defense.
Solana decentralized exchange Orca and lending protocol Loopscale will combine under a new entity called Formation, bringing trading, lending and investment infrastructure under one organization.
Luke Truitt, Loopscale’s co-founder, will serve as Formation’s CEO. Orca’s Christopher Montagano will become chief strategy and legal officer.
Formation plans to integrate Orca’s trading infrastructure with Loopscale’s lending products and investment vaults. It also plans to expand into capital-intensive sectors such as artificial intelligence, energy, robotics and defense.
The entity expects to introduce tools for asset issuers and new investment strategies over the next year. Orca has processed more than $550 billion in trading volume since 2021, while Loopscale has facilitated more than $2 billion in loans.
The merger terms were not disclosed. Orca and Loopscale will remain the foundations of the ORCA and xORCA token networks.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.