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Solana DeFi\'s Orca and Loopscale merge, relaunch as Formation

Solana-based decentralised exchange Orca and lending platform Loopscale have merged and will launch under the new name Formation, The Block reported on Oct. 7. The combined company will be led by Loopscale co-founder Luke Truitt. Financial terms of the merger were not disclosed. Formation aims to combine Orca’s trading infrastructure and Loopscale’s lending and investment products to support asset issuance, fundraising and trading in one place.