Loopscale and Orca Will Use ORCA as Formation’s Sole Token

Loopscale will not issue a separate token after merging with Solana-based decentralized exchange Orca, making ORCA the sole token for the combined Formation ecosystem.

Loopscale and Orca will continue operating as products under Formation, the new entity created through the merger. The arrangement gives Loopscale users a token framework centered on ORCA rather than introducing a new asset.

Loopscale’s points program will remain active until the conversion event begins. The conversion is scheduled for later this year, with additional details expected soon.

The merger combines Loopscale’s lending platform with Orca’s decentralized exchange and places both products under the Formation brand.