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.