Tokenize Everything: Robert Leshner’s Vision for On-Chain Finance
The Defiant18 Nov 2025

Tokenize Everything: Robert Leshner’s Vision for On-Chain Finance

Robert Leshner — the mind behind Compound, and now the founder of Superstate — believes the next trillion-dollar shift will come from bringing the world’s assets on-chain.


In this episode, Cami sits down with one of DeFi’s earliest pioneers to unpack:

  • Why DeFi itself shouldn’t change — but assets will

  • How tokenized T-bills, basis strategies, and even equities are finally getting institutional traction

  • Why regulatory “tailwinds,” not new laws, unlocked the RWA boom

  • The two competing models of tokenized stocks — and why both will win

  • What happens when DeFi becomes the infrastructure powering TradFi

  • What he’d do differently after Compound’s messy transition to decentralized governance


Robert also gives us a candid breakdown of how Superstate is building “canonical tokenization” — letting public companies turn their actual stock into blockchain-native assets — and why the real breakthrough won’t come from issuance… but from DeFi use cases.

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