[Loopscale Discloses Details of Merger with Orca: No Token Issuance, ORCA as the Sole Token of the New Brand, Points Will Continue to Accumulate] BlockBeats News, October 8, the lending protocol Loopscale disclosed details of its merger with Solana ecosystem DEX Orca in an official document. According to the document: · After the merger, Loopscale and Orca will continue to operate as products under Formation · The conversion of Loopscale points will take place later this year, with specific details to be announced soon · Points will continue to accumulate until the redemption event begins · Loopscale will not issue a token, and ORCA will remain the sole token within the Formation ecosystem BlockBeats previously reported that Solana ecosystem DEX Orca and lending protocol Loopscale announced their merger. The new entity has been renamed Formation, with Loopscale co-founder Luke Truitt serving as CEO and Orca's Christopher Montagano as Chief Strategy and Legal Officer. [Original Link]