Orca, a decentralized exchange on Solana, and lending protocol Loopscale have announced their merger to form Formation. The new entity will combine Orca’s trading infrastructure with Loopscale’s lending products and investment vaults.

Luke Truitt, Loopscale’s co-founder, will serve as CEO of Formation. Orca’s Christopher Montagano will lead strategy and legal affairs. The two protocols will continue to underpin the ORCA and xORCA token networks.

Formation plans to expand into capital-intensive sectors such as AI, energy, robotics, and defense. Over the next year, the organization plans to launch an asset issuance tool and new investment strategies.

Orca has processed more than $550 billion in trading volume since 2021, while Loopscale has facilitated loans worth more than $2 billion. The terms of the deal have not been disclosed.

Source: https://tintucbitcoin.com/orca-va-loopscale-tren-solana-hop-nhat-thanh-formation/

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