Solana ecosystem DEX Orca and lending protocol Loopscale have merged to create a new entity named Formation. Loopscale co-founder Luke Truitt will serve as CEO, while Orca’s Christopher Montagano takes on the role of Chief Strategy and Legal Officer. The combined platform will integrate Orca’s trading infrastructure with Loopscale’s lending and investment vaults, with plans to expand into capital-intensive sectors including AI, energy, robotics, and defense. Formation intends to launch asset issuance tools and new investment strategies over the next year. Both protocols will continue serving as the foundation for the ORCA and xORCA token networks. Since 2021, Orca has processed over $550 billion in trading volume, while Loopscale has facilitated more than $2 billion in loans. Financial terms of the merger were not disclosed.