Loopscale and Orca Merge Details Revealed: No New Token, ORCA Remains as Sole Token

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Loopscale and Orca have confirmed merger details, with the new entity named Formation. The merged project will retain ORCA as the sole token, with no new token listings planned. Both platforms will continue operating under the Formation brand. Points will remain active until the redemption process begins, expected later this year. Further updates will be shared soon. This move comes amid ongoing token launch news across the Solana ecosystem.

ChainThink reports that on October 8, according to official documentation, the lending protocol Loopscale disclosed details of its merger with the Solana ecosystem DEX Orca.

After the merger, Loopscale and Orca will continue to operate as products under Formation; the Loopscale conversion is expected to take place later this year, with further details to be announced soon.

Loopscale will not issue a token; ORCA is the only token in the Formation ecosystem, and points will continue to accumulate until redemption begins.

Previously, Orca and Loopscale announced their merger, with the new entity renamed Formation. Luke Truitt, co-founder of Loopscale, serves as CEO, and Christopher Montagano of Orca serves as Chief Strategy and Legal Officer.

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