one of the biggest merger on solana defi
@orca_so and @Loopscale are now @formation_so
one stack for the whole lifecycle of an onchain asset: issuance, trading on orca, borrowing against it on loopscale, packaging it into vaults
for users nothing changes. no migration, no withdrawals, positions stay as they are
ORCA is the token for all of formation, no new mint, same supply.
loopscale won't launch its own token and points keep accruing until conversion later this year (i hope they will do something good bc i have a lot of points)
.@orca_so and @Loopscale are merging into @formation_so to bring onchain financing to AI, robotics and defense.
@Luketruitt, now CEO of Formation, talked about this shift on the live show last month.
“The world is becoming very capital hungry. Whether it’s the physical AI build-outs, robotics, manufacturing, energy, all those things are very much more capital intensive than what startups and big tech looked like ten years ago.”
“That could be a $5,000,000 bond issuance to go fund part of a data center being constructed or building a new missile factory.”
https://t.co/ggpvIJTLy3
Congrats to @orca_so and @Loopscale on joining forces under @formation_so! Great to see trading and lending infrastructure coming together to expand what's possible for tokenized assets.
Excited to continue working together.
A fitting name for the new venture between @orca_so and @Loopscale.
Look forward to working with @formation_so on new primitives to access the frontier of the internet!