News linked to both this project and an event.
Loopscale has disclosed details of its merger with Orca, and after the merger, both parties will continue to operate as products under Formation. Loopscale point redemption will take place later this year, with specific details to be announced soon, and points will continue to accrue until the redemption event begins. Loopscale will not issue a token, and ORCA will become the sole token of the Formation ecosystem.
Solana ecosystem projects Orca and Loopscale have announced the completion of their merger, aiming to provide financing support for the AI, robotics, and defense sectors.
According to The Defiant, Securitize's tokenized high-yield credit fund HINC has officially been listed as collateral on the Solana lending protocol Loopscale, enabling accredited investors to stake HINC shares to borrow USDG stablecoins without redeeming their positions. HINC primarily holds high-yield corporate bonds and tranched CLO assets, with Neuberger Berman acting as sub-advisor (managing $613 billion in AUM). With a minimum subscription threshold of $100,000, the fund is exclusively available to accredited investors. This marks the third Securitize product integrated into Loopscale, following the prior listing of Apollo's ACRED and Securitize-listed equity token SECZ as collateral. HINC's net asset value is updated daily and recorded on-chain by RedStone, which Loopscale utilizes for pricing and liquidation triggers. Currently, Loopscale's total value locked stands at $91.3 million, with an active loan volume of $55.9 million.