Order book-based credit markets. A new standard for borrowing and lending onchain.
Joined February 2021
- Tweets1.4K
- Following112
- Followers37.3K
- Likes5.8K
Loopscale retweeted
Tokenized assets need a market to trade in and credit to scale with.
Formation brings @orca_so's liquidity infrastructure and @Loopscale's credit infrastructure together, from issuance to scale.
Catch 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
Loopscale 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
Loopscale 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
Loopscale 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
Loopscale 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.”
Loopscale 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.
Loopscale retweeted
Frontier opens first on @solana.
Deposit SOL into the vault powered by @Loopscale & @sanctumso. Stack 8x @domaprotocol points and allocate them toward 1,000+ new TLDs like .sol, .agent, .labs, .wallet.
The domain land rush is underway.
Earn 9.35% APY on SOL with the Doma SOL Internet Vault, plus an 8x @domaprotocol points multiplier.
The vault allocates SOL across @sanctumso LSTs, including jupSOL and INF, to optimize staking yield in one position.
Loopscale retweeted
srnOPAL is now live on @Loopscale
Use srnOPAL as collateral to borrow USDC and increase your Senior exposure with up to 4x leverage
Current maximum APY: 25.18%
Looped positions remain eligible for srnOPAL incentives on Exponent ↓
Loopscale retweeted
.@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.”
nitter.cf/marygooneratne/status/…
A very exciting day for our team and users: @Loopscale and @orca_so are joining forces as Formation @formation_so.
We’ve spent years building towards realizing the potential of onchain financial infrastructure and we now, together, have the team, technology, and ambition to expand what those markets can finance.
This is the start of a much bigger chapter for us and for the ecosystem more broadly.
Loopscale retweeted
Alvarez & Marsal was pleased to advise on the merger of @orca_so and @Loopscale to form @formation_so, a New York-headquartered platform bringing together trading, liquidity, credit and capital allocation infrastructure to accelerate the growth of tokenized assets and onchain finance.
Formation brings Orca's trading and liquidity infrastructure together with Loopscale's credit and vault infrastructure. Built on both protocols, Formation gives issuers a unified path from issuance to scale and allocators a single venue to access those assets and the strategies built around them.
Congratulations to the Orca, Loopscale and Formation teams on this exciting milestone. We look forward to seeing Formation help shape the next generation of global financial infrastructure.
Learn more: formation.so
More about A&M: lnkd.in/giEXW2AV
Loopscale retweeted
Congrats to @orca_so and @Loopscale, now @formation_so.
Issuance, secondary markets and credit on one set of rails. That's what institutional onchain finance needs.
We're excited to bring DeFi composability to EPIC and beyond.
Loopscale retweeted
HUGE: Solana exchange @orca_so and lender @Loopscale have merged as @formation_so, combining trading, lending and vaults to finance tokenized assets.
Loopscale retweeted
Exciting next chapter for our partners at @Loopscale as they unveil Formation, a new company at the frontier of capital markets
More to come 🤝
Loopscale retweeted
Looking forward to joining the panel to talk about the future of DeFi in an hour and financing the future of finance with @formation_so
Catch Loopscale Co-Founder @Luketruitt on "Growing the Pie: Why New Issuers and Allocators Are the Future of DeFi" at @token2049.
Alongside:
@JosephChee_, Solana Company
Heyryung Choi, Shinhan Asset Management
@0xkfei, SBI Holdings
Moderated by @EleanorTerrett, Crypto in America
MEXC Stage
Thursday, October 8, 12:30PM SGT
Loopscale retweeted
Catch Orca's new CEO @Luketruitt speaking at @token2049.
Thursday, 12:30pm SGT on the MEXC Stage.
Catch Loopscale Co-Founder @Luketruitt on "Growing the Pie: Why New Issuers and Allocators Are the Future of DeFi" at @token2049.
Alongside:
@JosephChee_, Solana Company
Heyryung Choi, Shinhan Asset Management
@0xkfei, SBI Holdings
Moderated by @EleanorTerrett, Crypto in America
MEXC Stage
Thursday, October 8, 12:30PM SGT
Loopscale retweeted
Catch our CEO and Co-Founder @Luketruitt on the MEXC Stage at @token2049.
Catch Loopscale Co-Founder @Luketruitt on "Growing the Pie: Why New Issuers and Allocators Are the Future of DeFi" at @token2049.
Alongside:
@JosephChee_, Solana Company
Heyryung Choi, Shinhan Asset Management
@0xkfei, SBI Holdings
Moderated by @EleanorTerrett, Crypto in America
MEXC Stage
Thursday, October 8, 12:30PM SGT
Loopscale retweeted
You have no idea how BULLISH this is
Orca and Loopscale merge to build the future of onchain finance
Literally a beast in the making
But what does it mean for you?
- For users nothing will change
- Orca & Loopscale stay as as they are
Both protocols remain the base of the ORCA/xORCA token network
More coming soon 👀
Loopscale retweeted
JUST IN: @Loopscale & @orca_so are officially merging.🚨
Orca’s liquidity infrastructure and Loopscale’s onchain credit stack are coming together as @formation_so
A broader DeFi platform built around trading, lending, and capital markets on Solana.
Worth keeping an eye on.
BREAKING: Two Solana DeFi teams are now one.
@orca_so and @Loopscale have combined as @formation_so.
Orca has been Solana's premier liquidity layer since 2021, with more than $500B traded.
Loopscale has facilitated more than $2B in loans since April 2025.
Together they put issuance, secondary markets and credit on one set of rails; permissioned for institutions, and permissionless for everyone else.
Loopscale retweeted
Thrilled and grateful to announce the next chapter: Orca and Loopscale are merging to become Formation.
@truittluke and I started in 2021 with a shared belief that crypto’s promise extends far beyond crypto assets.
Bringing offchain assets onchain is a massive market. But, we believe the transformational opportunity is lowering what we call the “minimum viable asset”: the point at which something becomes economical to finance.
Technology dramatically lowered the cost of starting a software company or selling online but capital markets have not kept pace. The industries emerging now need financial infrastructure to scale with them.
This is what we are setting out to do.
Orca has processed more than $550B in trading volume. Loopscale has facilitated over $2B in loans and holds more than $150M in deposits. Orca and Loopscale are two of the leading protocols on @Solana. And together, we are able to offer a unified path from issuance to secondary liquidity, credit, and vault distribution on a single platform.
I’m incredibly proud of what we’ve built, what we’ve learned, and the team we now have to pursue this ambition at a much greater scale. And to everyone who traded, borrowed, lent, deposited, or supported us in any fashion along the way, thank you and L.F.G. ♥️