Solana-based decentralized exchange Orca and lending protocol Loopscale have announced a merger, creating a new entity called Formation. The deal brings together two projects that have built different pieces of Solana’s on-chain market structure. Orca said it has served as a major liquidity layer in the Solana ecosystem since 2021, with cumulative trading volume topping $500 billion. Loopscale, for its part, has facilitated more than $2 billion in loans since April 2025. Under the new structure, Formation plans to combine asset issuance, secondary markets, and credit functions on a single platform. The company also said it will offer permissioned services for institutions while keeping permissionless access available to the public. The announcement outlines a model that aims to serve both institutional users and open market participants within one product framework.
According to Techub News, Solana-based decentralized exchange Orca and lending protocol Loopscale have merged to form a new entity, Formation.
A combined platform for trading and credit
Orca said it has been a major liquidity layer in the Solana ecosystem since 2021, with cumulative trading volume of more than $500 billion. Loopscale said it has facilitated more than $2 billion in loans since April 2025.
After the merger, Formation plans to bring asset issuance, secondary markets, and credit functions onto one platform. It also intends to provide permissioned services for institutions while keeping permissionless access open to the public.
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