According to CoinMeta, as reported by The Block, the Solana decentralized exchange Orca has merged with the lending protocol Loopscale and has been renamed Formation. Luke Truitt, one of the co-founders, will take on the role of CEO. Loopscale will integrate the trading infrastructure of Orca with Loopscale's lending and investment treasury products, targeting emerging assets. The platform also plans to expand its business into capital-intensive sectors such as AI, energy, robotics, and defense, with the ultimate goal of providing a pathway for these related assets to enter the regulated U.S. capital market. Over the next 12 months, Formation will launch tools for asset issuers and new investment strategies, and has already collaborated with Figure, Shinhan Asset Management, Superstate, R3, and Securitize to facilitate the entry and distribution of these assets into the market.