According to Decrypt, the Solana decentralized exchange Orca and the lending platform Loopscale have merged under a newly formed entity called Formation. Formation is a New York–based company that intends to finance assets in AI, energy, robotics, and defense sectors. The combined operation will use the name Formation for its activities.
Formation aims to pursue regulated U.S. market participation over time. No details are provided about timing, structure beyond the brand name, or operational changes beyond the merger.
