Two of Solana’s biggest DeFi projects, Orca and Loopscale, have announced a merger to form a new company, Formation.
Orca is a veteran DEX with more than $550 billion in cumulative trading volume. Loopscale specializes in lending and has facilitated more than $2 billion in loans.
The merged company plans to go beyond trading and lending, moving into asset financing for sectors such as AI, energy, and robotics. It also plans to launch a tokenized securities trading platform.
The biggest thing to note:
$ORCA will become the token for the entire Formation ecosystem, and Loopscale will no longer issue a token of its own.
Orca is a veteran DEX with more than $550 billion in cumulative trading volume. Loopscale specializes in lending and has facilitated more than $2 billion in loans.
The merged company plans to go beyond trading and lending, moving into asset financing for sectors such as AI, energy, and robotics. It also plans to launch a tokenized securities trading platform.
The biggest thing to note:
$ORCA will become the token for the entire Formation ecosystem, and Loopscale will no longer issue a token of its own.