Orca and Loopscale Merge to Form Formation

Solana ecosystem DEX Orca and lending protocol Loopscale have announced their merger, with the new entity named Formation. Loopscale co-founder Luke Truitt will serve as CEO, while Orca's Christopher Montagano will take on the role of Chief Strategy and Legal Officer. Formation will integrate Orca's trading infrastructure with Loopscale's lending and investment vaults, planning to expand into capital-intensive sectors such as AI, energy, robotics, and defense, with asset issuance tools and new investment strategies set to launch in the coming year. Both protocols will continue to serve as the foundation for the ORCA and xORCA token networks. Orca has recorded over $55 billion in trading volume since 2021, while Loopscale has facilitated over $2 billion in loans. The terms of the transaction have not been disclosed.

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