Orca 🌊 retweeted
4 tokenized securities venues have now filed notices with the SEC.
Here is where each one stands:
TSV LLC: live since Nov 4 on @CantonNetwork, trading $CNTN through Tradecraft AMM, issuer-sponsored via @fairmint
OKXICE: can operate from Nov 3, @okx × @ICE_Markets on @XLayerOfficial, 6 stocks in @Uniswap v4 pools
Perpetuals.com: can operate from Nov 13 on Kronos X, its own L2, with no stocks named yet
@formation_so: early 2027 on @solana with @orca_so, issuer-sponsored via @Securitize and @SuperstateInc.
Credit @HarryTran_RWA.
Crypto transactions shouldn't be taxed differently just because they happen on a blockchain.
Orca joined @fund_defi, @a16z, @paradigm, @Uniswap, and 13 other co-signers on an amicus brief explaining why Illinois' Digital Asset Tax Act is unlawful.
Illinois’ Digital Asset Tax Act is Unlawful and Unenforceable
DEF, @a16z, @paradigm, @Uniswap & 14 co-signers joined together to submit an amicus brief supporting @BlockchainAssn, @crypto_council, and @digitalchamber’s challenge to the Illinois’ Digital Asset Tax Act. 👇
CHADx is now live on Orca.
The latest @xStocksFi market from @defidevcorp. Trade or LP it 24/7 on Solana.
Fixed rates and leveraged yield on @ExponentFinance, provide liquidity on Orca.
Exponent is the largest market for STRCx on Solana, now expanding @xStocksFi markets with CHADx from @defidevcorp and a new STRCx maturity
Access fixed rates or leveraged yield with up to 2x xPoints across both markets ↓
Orca 🌊 retweeted
On Monday afternoon, I’ll be speaking at @SolanaEvents Breakpoint in London about our 18-month journey with the SEC, which culminated yesterday in filing for Solana's first TSV.
Title: “Okay, Traders. Now, Let’s Get in Formation”
Thanks @amiravalliani and @pmwnyc for the title, and for setting an impossible stage presence bar. Will be searching for my inner Queen Bey for the next 6 days.
Orca 🌊 retweeted
Formation Securities plans to launch a Solana-based tokenized stock trading venue in early 2027, with Galaxy, Exodus and Forward Industries as its first three issuers.
The firm secured commitments from all three before announcing the venue and plans to approach additional public companies over the next two months, pitching tokenization as a way to reach investors beyond traditional stock exchanges, CoinDesk reports.
coindesk.com/business/2026/1…
Orca 🌊 retweeted
Formation Securities president @cpmontagano on why they chose @solana for tokenized securities.
BREAKING: Formation Securities (@formation_so) notifies the SEC of its intent to operate the first tokenized securities venue on Solana.
U.S.-listed shares with the same voting and dividend rights as the originals, settling atomically onchain, 24/7.
Hear Formation Securities President @cpmontagano on @TheBlockCo.
He breaks down the first tokenized securities venue on @solana.
Excl: New tokenized stock venue eyes 2027 Solana launch nitter.gq/i/broadcasts/2rJqVZeQB…
Orca 🌊 retweeted
BREAKING: Formation Securities (@formation_so) notifies the SEC of its intent to operate the first tokenized securities venue on Solana.
U.S.-listed shares with the same voting and dividend rights as the originals, settling atomically onchain, 24/7.
Orca 🌊 retweeted
1/ Formation Securities (@formation_so) plans to bring the first tokenized securities venue on @solana under the @SECgov's Innovation Exemption.
Orca 🌊 retweeted
Congrats to @cpmontagano and the @Formation_so and @orca_so teams, and thank you to the @SECGov leadership staff for their hard work getting us here!
1/ Formation Securities (@formation_so) plans to bring the first tokenized securities venue on @solana under the @SECgov's Innovation Exemption.
Orca 🌊 retweeted
Today begins a new chapter: I’m thrilled to be leading the newly created Formation Securities as President.
First order of business: we notified @SECgov that we intend to operate the first tokenized securities venue on @solana.
I want to take you back to the inception point of this endeavor. More than 18 months ago, @yelennyy at @SolanaFndn and @millercwl at @SolanaInstitute approached me about @orca_so representing the DeFi stack in a proposed framework to the SEC for trading tokenized stocks on a public, permissionless blockchain. That became Project Open, a coalition with @SuperstateInc and others that we submitted to the SEC’s Crypto Task Force in April 2025. We spent the next year working through the details with SEC staff.
When the SEC published the Innovation Exemption this September, it reflected much of what we proposed, including AMM trading on a public, permissionless blockchain. I started my career as an SEC intern, spent a decade working with public registrants, then nearly a half decade building a pioneering AMM on Solana. A real full-circle moment.
Tokenization is a generational upgrade to the infrastructure underpinning public markets, and a real opportunity for public companies and their shareholders. Helping issuers understand it is a responsibility I take seriously, and I look forward to engaging with every company considering the opportunity.
Years ago I helped take @PhillipsEdison public. I know what it’s like inside a public company legal department when a random proposal lands in the mailbox. The Formation Securities team will work to make tokenization easy for issuers to understand, and we’re committed to building this market together.
For issuers, it means a market for their stock that’s open 24/7, trades that settle atomically and a real-time view of trading in their shares. Their transfer agent keeps the shareholder register, and their shareholders keep their voting and dividend rights.
We’re building on Orca’s AMM, which has run on Solana since 2021. Traders have moved more than $550B through it, @Certora formally verified the code, and four independent firms have audited it 11 times.
@Exodus ($EXOD), @FWDind ($FWDI) and @galaxyhq ($GLXY) are among the earliest adopters, and their tokenized shares are expected to be available when trading begins in early 2027.
This is just the starting line. I’m grateful to the coalition that got us here and the issuers who said yes early. Much more to come!
Learn more: prnewswire.com/news-releases…
The crypto voter decides today.
Builders, traders, LPs: get to the polls and tune in with @standwithcrypto.
Election Day: The Crypto Voter Decides nitter.gq/i/broadcasts/2EmWMagyW…
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
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 👇
nitter.gq/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
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.
