Loopscale has outlined key terms following its merger with Orca. After the combination, both products will continue operating under the Formation umbrella, according to an update cited by Odaily. The company said a redemption event for Loopscale points is scheduled for later this year, with more details set to be released soon. Until that redemption process begins, points will continue to accrue. Loopscale also said it does not plan to issue its own token. Instead, ORCA will serve as the only token in the Formation ecosystem. The update clarifies the token structure after the merger and sets expectations for users who have been accumulating Loopscale points ahead of the upcoming redemption arrangement.
Loopscale has disclosed post-merger details for its tie-up with Orca, according to Odaily. After the merger, both sides will continue to operate as products under Formation.
Loopscale said redemption for its points will take place later this year, and specific details will be announced soon. Points will keep accruing until the redemption event begins.
The project also said it will not issue a token. ORCA will be the only token in the Formation ecosystem.
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