Say hello to @formation_so.
Orca is merging with @Loopscale to bring Solana's deepest liquidity and fixed-rate credit into one full-stack DeFi platform. Trade it, borrow against it, put it to work in a vault.
Orca 🌊 retweeted
DeFi has demonstrated the power of onchain financial infrastructure across the small universe of crypto assets.
The much bigger opportunity is using that infrastructure to expand the universe of assets that capital markets can serve.
Bringing together Orca and Loopscale as @formation_so puts us in a unique position to build toward that future.
NEW POD
We cover:
▫️ Why a DEX and lender merged
▫️ ONYC vs ACred: liquidity caps credit
▫️ Neo-clouds borrowing at 14–20% onchain
▫️ xORCA fees cut 40%→10%
▫️ Prop AMMs hit ~36% of Solana DEX
@Luketruitt @marcarjoon @0xcarlosg
Timestamps:
00:00 Luke Truitt, CEO of Formation
02:28 Why a DEX and a Lender Merged
05:30 ONYC vs ACred: Liquidity Caps Credit
10:55 Neo-Clouds Borrowing at 14–20% Onchain
13:57 DAS London
14:35 Neo-Clouds Borrowing at 14–20% Onchain (cont.)
17:47 Clarity Act and Regulated US Markets
21:17 Token Holders in Crypto M&A
28:24 DAS London
29:02 Token Holders in Crypto M&A (cont.)
34:28 Monetizing Credit Through Trading
38:03 xORCA Fees Cut 40%→10%
44:54 Competing for New Lending Markets
48:59 Are DeFi Yields Mispriced?
51:50 Prop AMMs Hit ~36% of Solana DEX
56:21 Formation's Next 12 Months
Catch Orca CLO and @formation_so cofounder @cpmontagano live tomorrow at 3 PM ET on crypto policy and what the midterms mean for Solana.
Tomorrow at 3 PM ET: The Solana Vote 🗳️
@thecolinmclaren, @RebeccaRettig1, @cpmontagano, and @xethalis join @masonlynaugh to talk about what’s at stake for @solana builders and users in the midterms.
Orca 🌊 retweeted
Best podcast title of the year 😂
Worth a listen: @Luketruitt on our thesis for merging @orca_so with @Loopscale and launching @formation_so.
NEW POD
We cover:
▫️ Why a DEX and lender merged
▫️ ONYC vs ACred: liquidity caps credit
▫️ Neo-clouds borrowing at 14–20% onchain
▫️ xORCA fees cut 40%→10%
▫️ Prop AMMs hit ~36% of Solana DEX
@Luketruitt @marcarjoon @0xcarlosg
Timestamps:
00:00 Luke Truitt, CEO of Formation
02:28 Why a DEX and a Lender Merged
05:30 ONYC vs ACred: Liquidity Caps Credit
10:55 Neo-Clouds Borrowing at 14–20% Onchain
13:57 DAS London
14:35 Neo-Clouds Borrowing at 14–20% Onchain (cont.)
17:47 Clarity Act and Regulated US Markets
21:17 Token Holders in Crypto M&A
28:24 DAS London
29:02 Token Holders in Crypto M&A (cont.)
34:28 Monetizing Credit Through Trading
38:03 xORCA Fees Cut 40%→10%
44:54 Competing for New Lending Markets
48:59 Are DeFi Yields Mispriced?
51:50 Prop AMMs Hit ~36% of Solana DEX
56:21 Formation's Next 12 Months
Orca 🌊 retweeted
Tomorrow at 3 PM ET I'm joining @masonlynaugh to talk about what's at stake for @solana builders and users in the midterms, along with legal/policy minds far greater than mine: @thecolinmclaren, @RebeccaRettig1 and @xethalis. Have worked the halls of Congress together, will be fun to chat live.
Crypto policy gets made by the people who show up. Vote Nov 3 🗳️
Set a reminder 👇
xitter.cf/i/broadcasts/1wxWjlXQM…
Tomorrow at 3 PM ET: The Solana Vote 🗳️
@thecolinmclaren, @RebeccaRettig1, @cpmontagano, and @xethalis join @masonlynaugh to talk about what’s at stake for @solana builders and users in the midterms.
Every tokenized asset needs a market before it can scale. Orca's liquidity infrastructure on @solana gives @formation_so the tools to build one for each asset.
Tune in to Formation CEO @Luketruitt on @0xResearch ↓
NEW POD
We cover:
▫️ Why a DEX and lender merged
▫️ ONYC vs ACred: liquidity caps credit
▫️ Neo-clouds borrowing at 14–20% onchain
▫️ xORCA fees cut 40%→10%
▫️ Prop AMMs hit ~36% of Solana DEX
@Luketruitt @marcarjoon @0xcarlosg
Timestamps:
00:00 Luke Truitt, CEO of Formation
02:28 Why a DEX and a Lender Merged
05:30 ONYC vs ACred: Liquidity Caps Credit
10:55 Neo-Clouds Borrowing at 14–20% Onchain
13:57 DAS London
14:35 Neo-Clouds Borrowing at 14–20% Onchain (cont.)
17:47 Clarity Act and Regulated US Markets
21:17 Token Holders in Crypto M&A
28:24 DAS London
29:02 Token Holders in Crypto M&A (cont.)
34:28 Monetizing Credit Through Trading
38:03 xORCA Fees Cut 40%→10%
44:54 Competing for New Lending Markets
48:59 Are DeFi Yields Mispriced?
51:50 Prop AMMs Hit ~36% of Solana DEX
56:21 Formation's Next 12 Months
Orca 🌊 retweeted
Really enjoyed talking through the @orca_so x @Loopscale merger, financing the frontier onchain and the path to regulated US markets with @0xResearch.
Formation is the future of onchain capital markets.
@0xcarlosg and co. asking some hard hitters!
NEW POD
We cover:
▫️ Why a DEX and lender merged
▫️ ONYC vs ACred: liquidity caps credit
▫️ Neo-clouds borrowing at 14–20% onchain
▫️ xORCA fees cut 40%→10%
▫️ Prop AMMs hit ~36% of Solana DEX
@Luketruitt @marcarjoon @0xcarlosg
Timestamps:
00:00 Luke Truitt, CEO of Formation
02:28 Why a DEX and a Lender Merged
05:30 ONYC vs ACred: Liquidity Caps Credit
10:55 Neo-Clouds Borrowing at 14–20% Onchain
13:57 DAS London
14:35 Neo-Clouds Borrowing at 14–20% Onchain (cont.)
17:47 Clarity Act and Regulated US Markets
21:17 Token Holders in Crypto M&A
28:24 DAS London
29:02 Token Holders in Crypto M&A (cont.)
34:28 Monetizing Credit Through Trading
38:03 xORCA Fees Cut 40%→10%
44:54 Competing for New Lending Markets
48:59 Are DeFi Yields Mispriced?
51:50 Prop AMMs Hit ~36% of Solana DEX
56:21 Formation's Next 12 Months
Orca 🌊 retweeted
NEW POD
We cover:
▫️ Why a DEX and lender merged
▫️ ONYC vs ACred: liquidity caps credit
▫️ Neo-clouds borrowing at 14–20% onchain
▫️ xORCA fees cut 40%→10%
▫️ Prop AMMs hit ~36% of Solana DEX
@Luketruitt @marcarjoon @0xcarlosg
Timestamps:
00:00 Luke Truitt, CEO of Formation
02:28 Why a DEX and a Lender Merged
05:30 ONYC vs ACred: Liquidity Caps Credit
10:55 Neo-Clouds Borrowing at 14–20% Onchain
13:57 DAS London
14:35 Neo-Clouds Borrowing at 14–20% Onchain (cont.)
17:47 Clarity Act and Regulated US Markets
21:17 Token Holders in Crypto M&A
28:24 DAS London
29:02 Token Holders in Crypto M&A (cont.)
34:28 Monetizing Credit Through Trading
38:03 xORCA Fees Cut 40%→10%
44:54 Competing for New Lending Markets
48:59 Are DeFi Yields Mispriced?
51:50 Prop AMMs Hit ~36% of Solana DEX
56:21 Formation's Next 12 Months
Orca 🌊 retweeted
Bullish to see @formation_so cofounder @cpmontagano in one of Korea’s biggest media outlets, making the case for why Solana will be the home of tokenized securities.
Solana is Global.
Orca 🌊 retweeted
Tokenized fund trading came down to two venues today 🦄🐋
@Uniswap +$973.4K (V4 + V3) & @orca_so +$928.0K (Whirlpools).
Only $45.4K apart, and 93% of all growth in the top 10 between them.
Data: @tokenterminal
Orca 🌊 retweeted
A silent beast in the making?
Loopscale and Orca merged, so we now have:
- @orca_so → trading + LPing
- @Loopscale → earning
- @formation_so → public capital markets onchain
@Luketruitt on Formation:
“AI, robotics and factories need massive amounts of capital. Tokenization makes raising and investing in it cheaper and easier.”
Orca pool creators can now pick from two new Adaptive Fee profiles.
Launch Spike: for new token launches
Quick Reset: for tokens with frequent bursts of volatility
When price moves, your pool's fee responds. Each profile changes how hard it rises and how fast it resets ↓
Quick Reset
Once the price settles for 30 seconds, the fee drops back to base so your pool stays competitive between bursts.
Available on the 1% fee tier.
Create a pool: orca.so/create-pool/advanced
What's next for Orca as part of Formation, explained by @Luketruitt at TOKEN2049 ↓
Earlier this month at TOKEN2049, we introduced Formation and our mission to build capital markets for the industries shaping the next decade.
CEO @Luketruitt joined leaders from @Solana_Company, Shinhan Asset Management, and SBI Holdings to discuss why Orca and Loopscale merged and how Formation creates a unified path from asset creation to global liquidity.
Orca 🌊 retweeted
Earlier this month at TOKEN2049, we introduced Formation and our mission to build capital markets for the industries shaping the next decade.
CEO @Luketruitt joined leaders from @Solana_Company, Shinhan Asset Management, and SBI Holdings to discuss why Orca and Loopscale merged and how Formation creates a unified path from asset creation to global liquidity.
$1.7B in RWA volume was built on Orca. @formation_so is where we scale it.
Shoutout to @birdeye_data for the data.
Solana’s RWA market is gaining serious traction, with @orca_so emerging as a key venue for tokenized asset trading.
Since July 2025, Orca has recorded $1.7B+ in cumulative trading volume for tokenized assets, including a 400% surge in June 2026.
Momentum is carrying into October, with RWA volume exceeding $220M in the first half of the month alone.
With Orca and Loopscale now migrated to @formation_so, the ecosystem could be entering an exciting new phase for on-chain RWAs.
Data powered by @birdeye_data.
Orca 🌊 retweeted
Formation 🤝 Superstate
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.























