> ## Documentation Index
> Fetch the complete documentation index at: https://docs.loopscale.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Formation

**Loopscale and Orca are merging as Formation.** The combined team operates as Formation, led by Loopscale co-founder Luke Truitt as CEO. Loopscale will continue running as normal and positions are unchanged.

## **General**

<AccordionGroup>
  <Accordion title="What is Loopscale? How is it different from other lending protocols?">
    Loopscale and Orca are merging. The combined team will operate as Formation, bringing Loopscale's credit and vault infrastructure together with Orca's trading and liquidity infrastructure.
  </Accordion>

  <Accordion title="Why is Loopscale merging with Orca?">
    Credit works best next to deep liquidity. Loopscale prices risk and onboards asset issuers; Orca gives those assets secondary markets on Solana's most battle-tested DEX. Together, an issuer can launch an asset with trading and credit live from day one, and lenders get a clearer exit and better collateral pricing.
  </Accordion>

  <Accordion title="Who will lead the combined company?">
    Luke Truitt, co-founder of Loopscale, is CEO of Formation. Mary Gooneratne, co-founder of Loopscale, is Chief Operating Officer and Christopher Montagano, Chief Legal Officer of Orca, is Chief Strategy & Legal Officer.
  </Accordion>

  <Accordion title="Is the Loopscale brand going away?">
    No. Until further updates, both brands will continue as products under Formation.
  </Accordion>

  <Accordion title="Has Loopscale raised funds?">
    Yes. In 2021, when Loopscale was known as Bridgesplit, the company raised \$4.25M from CoinFund, Jump, Coinbase Ventures, Solana Ventures, and Room40. More information about this funding round is available in this [press release](https://www.businesswire.com/news/home/20211216005113/en/NFT-Financialization-Platform-Bridgesplit-Announces-4.25M-Raise-Led-by-CoinFund-and-Jump-Capital).
  </Accordion>
</AccordionGroup>

### **For Loopscale users**

<AccordionGroup>
  <Accordion title="What happens to my positions?">
    Nothing, all positions stay exactly as they are. You do not need to repay, withdraw, migrate or sign anything.
  </Accordion>

  <Accordion title="Will the Loopscale app keep working?">
    Yes. Lending, borrowing, Loops, Vaults and the Credit Order Book continue as normal.
  </Accordion>

  <Accordion title="Will the Loopscale app keep working?">
    Yes. Lending, borrowing, Loops, Vaults and the Credit Order Book continue as normal.
  </Accordion>

  <Accordion title="Does anything change with security or multisigs?">
    No. Loopscale's programs, upgrade authority, multisig setup, bug bounty, and risk controls remain unchanged.
  </Accordion>
</AccordionGroup>

### **Points**

<AccordionGroup>
  <Accordion title="What happens to my Loopscale points? ">
    Points will convert later this year and details will be announced shortly. Stay active until then and follow along for details.
  </Accordion>

  <Accordion title="Will points continue to accrue? ">
    Yes. Points keep accruing until the conversion event. Early users have helped build Loopscale into one of Solana's leading credit markets, and those contributions are not being ignored.
  </Accordion>

  <Accordion title="Will Loopscale launch its own token?">
    No. ORCA is the token for all of Formation, including Loopscale.
  </Accordion>

  <Accordion title="Does anything change with security or multisigs?">
    No. Loopscale's programs, upgrade authority, multisig setup, bug bounty, and risk controls remain unchanged.
  </Accordion>
</AccordionGroup>

Thank you to every looper who has stuck with us through the past year and a half. We’re just getting started and excited to have you onboard to build Formation with us.

### **Additional**

**Where can I get updates?** More details about Formation will be released in the coming weeks. Visit[ <u>formation.so</u>](http://formation.so) and follow [<u>@formation\_so</u>](https://x.com/formation_so) and @Loopscale on X for the latest.


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