📰 UPDATES FROM $ORCA
ORCA merges with Loopscale to form Formation 🐋
On October 7, Orca (the Solana DEX) announced its merger with Loopscale, a fixed-rate lending protocol, creating a new company called Formation — an “American DeFi company” based in New York.
What changes for holders?
- ✅ ORCA remains the token for the entire ecosystem — Loopscale will not launch its own token
- ✅ Your positions are unchanged — there’s nothing to withdraw, migrate, or sign.
- ⚠️ Tokenholder vote from October 11–16: the proposal allocates 80% of fees to development, 10% to ORCA buybacks, and 10% to a team buyback wallet
- ⚠️ Loopscale points will be converted to ORCA “later in 2026” — this could create selling pressure
The legal side: no issues with the SEC. In fact, Formation plans to operate under the “innovation exemption” and seek licenses for a tokenized securities venue in the U.S. 🇺🇸
My take*: the merger is bullish in the long term, but the October 11–16 vote and the points conversion are the two events to watch. 🛡️
#orca #Solana #novedades
ORCA merges with Loopscale to form Formation 🐋
On October 7, Orca (the Solana DEX) announced its merger with Loopscale, a fixed-rate lending protocol, creating a new company called Formation — an “American DeFi company” based in New York.
What changes for holders?
- ✅ ORCA remains the token for the entire ecosystem — Loopscale will not launch its own token
- ✅ Your positions are unchanged — there’s nothing to withdraw, migrate, or sign.
- ⚠️ Tokenholder vote from October 11–16: the proposal allocates 80% of fees to development, 10% to ORCA buybacks, and 10% to a team buyback wallet
- ⚠️ Loopscale points will be converted to ORCA “later in 2026” — this could create selling pressure
The legal side: no issues with the SEC. In fact, Formation plans to operate under the “innovation exemption” and seek licenses for a tokenized securities venue in the U.S. 🇺🇸
My take*: the merger is bullish in the long term, but the October 11–16 vote and the points conversion are the two events to watch. 🛡️
#orca #Solana #novedades