co-founder, head of BD @superstateinc views are my own
San Diego, CA
Joined December 2019
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Jim Hiltner retweeted
1/ High APY is easy to market. A durable Earn program is harder to build.
Today’s Earn program customers care about more than the headline rate. They care about risk, liquidity, and what happens when incentives run out.
Earn programs need to evolve.
superstate.com/newsroom/beyo…
Jim Hiltner retweeted
People generally understand that tokenization will create an explosion in the amount of assets to trade.
They're only beginning to be understood the boom that this will create in trading venues and front ends.
My early impression is that the combo of fintech + crypto will be more disruptive to trad brokerage and exchanges than people think.
The brokerages expecially have benefitted from operating in a highly regulated industry for a long time, and therefore have pretty universally poor UX.
I think once tech companies move payments and treasury mgmt onchain (already happening), it will open their eyes to opportunities in finance they never previously would have considered.
SpaceX / xAI / Elon will make a HUGE splash in this next year and put the fear of god in finance generally.
But the larger trend is an explosion in the number of trading venues and a sea change in the composition.
They will be faster, more innovative, and lean into AI first versions of supporting trading and investing.
The roles of a financial advisor and trader will be condensed into an agent that every retail trader in America will have access to.
If you aren't excited about this future, I don't know what to tell you.
It's bright, and it's for the taking.
Jim Hiltner retweeted
Tokenization expands where fund shares can be put to work. On @aave Horizon, USTB and USCC holders can use their shares as collateral to access stablecoin liquidity.
Regulated funds, connected to onchain credit.
New @Citi research positions Aave as a collateral mobility protocol for tokenized capital markets.
It calls collateral mobility one of tokenization’s most important use cases, with Aave able to take on functions that move tens of trillions of dollars in traditional finance.
If I ran a bank, I’d be way less concerned with trying to defend against stablecoin yield and more worried that every big tech company is about to become a neobank.
Distribution is the only moat.
institutional-grade products already exist, but distribution for tokenized assets is stuck in 1985. TradFi spent 40 years building the pipes that brought financial products to the masses more efficiently. Tokenization is at the start of that same journey, but it won't take 40 years to get there.
We're hyper focused on getting tokenized assets into the hands of every day investors, leveraging onchain technology to provide superior products.
40 years -> 40 months is my goal
1/ Tokenization is approaching a 1985-style inflection point.
The assets exist. What's missing is the infrastructure to distribute them at scale.
Last time markets solved that problem, trillions followed.
superstate.com/newsroom/toke…
Tax Extension Day in America. If most of the wealth is concentrated in risk assets, wonder how much of the recent selloff is positioning to meet tax bills.
Jim Hiltner retweeted
Fission has raised $10M in Series A funding, led by @PanteraCapital.
We’re building the liquidity infrastructure for the next generation of tokenized financial products.
Eligible investors can now access capital without waiting for a fund's scheduled redemption window.
More in Fortune: fortune.com/2026/10/15/pante…
i swear most people think there's a direct correlation between their bonus and the number of useless calls they schedule
Jim Hiltner retweeted
ETFs made investing simpler. Tokenization can do the same for ETF operations.
➕ Real-time shareholder records
➕ Compliant, programmable share transfers
➕ Less back-office friction
A better way to run funds, not just own them.
See how it works: superstate.com/newsroom/toke…
Jim Hiltner retweeted
Thank you, @JonWalch, for everything you’ve built at Superstate. We’re incredibly grateful for your leadership. We wish you all the success in your next chapter.
Next week will be my last week at @SuperstateInc
For over three years, I've had the pleasure of working alongside @rleshner @HiltnerJim @Dean_Swennumson and many others. The engineering org is in a ridiculously strong place, and is stronger than I could have imagined when we started it.
I will continue to cheer for Superstate from the sidelines. Superstate is already positioned to be the most important and impactful tokenized funds and equities company.
Chris Ridmann will be taking over for me as Head of Engineering. Everyone that knows Chris knows he is extremely sharp, kind, hardworking, and curious. He will do an amazing job leading Superstate to continued victory.
I'm going to take some time off and then chew glass with some other challenging task in crypto. 🫡
whatever the next major technological breakthrough in history is bullish for crypto
- everyone in crypto
In Singapore this week and can’t manage my portfolio through traditional brokerage account. This is the screen everyone sees when you’re not awake during NY hours. Access to 24/7 markets onchain is the future.
Jim Hiltner retweeted
Thrilled and grateful to announce the next chapter: Orca and Loopscale are merging to become Formation.
@truittluke and I started in 2021 with a shared belief that crypto’s promise extends far beyond crypto assets.
Bringing offchain assets onchain is a massive market. But, we believe the transformational opportunity is lowering what we call the “minimum viable asset”: the point at which something becomes economical to finance.
Technology dramatically lowered the cost of starting a software company or selling online but capital markets have not kept pace. The industries emerging now need financial infrastructure to scale with them.
This is what we are setting out to do.
Orca has processed more than $550B in trading volume. Loopscale has facilitated over $2B in loans and holds more than $150M in deposits. Orca and Loopscale are two of the leading protocols on @Solana. And together, we are able to offer a unified path from issuance to secondary liquidity, credit, and vault distribution on a single platform.
I’m incredibly proud of what we’ve built, what we’ve learned, and the team we now have to pursue this ambition at a much greater scale. And to everyone who traded, borrowed, lent, deposited, or supported us in any fashion along the way, thank you and L.F.G. ♥️
Jim Hiltner retweeted
When I joined @orca_so in early 2022, DeFi had no clear path into American capital markets. We've spent years working with U.S. regulators to help open one.
The SEC's Innovation Exemption carves a real path, and Formation plans to operate a tokenized securities venue under it.
Liquidity alone isn't enough to scale an asset. It takes credit and distribution too, and that's what Orca and @Loopscale bring together in Formation.
Thank you to the Orca community, LPs, and team, past and present. Let's build.
Jim Hiltner retweeted
BREAKING: Two Solana DeFi teams are now one.
@orca_so and @Loopscale have combined as @formation_so.
Orca has been Solana's premier liquidity layer since 2021, with more than $500B traded.
Loopscale has facilitated more than $2B in loans since April 2025.
Together they put issuance, secondary markets and credit on one set of rails; permissioned for institutions, and permissionless for everyone else.
A very exciting day for our team and users: @Loopscale and @orca_so are joining forces as Formation @formation_so.
We’ve spent years building towards realizing the potential of onchain financial infrastructure and we now, together, have the team, technology, and ambition to expand what those markets can finance.
This is the start of a much bigger chapter for us and for the ecosystem more broadly.
Jim Hiltner retweeted
1/ Tokenization isn’t coming for service providers. It’s coming through them.
The next wave of onchain asset management will be built on the custodians, administrators, and transfer agents already trusted with trillions.
superstate.com/newsroom/supe…
Jim Hiltner retweeted
The future of RWAs isn’t just 1,000 tokenized versions of the same Treasury fund. It’s differentiated investment products built onchain.
@ValinorDigital's VBDC is one example.
We’re expanding what Wall Street can build.
superstate.com/newsroom/vali…
Can’t help but think you’ll never see a big crypto logo on top of a building in any
major financial hub like NYC, London, Singapore etc.
You just simply don’t need 78 floors to manage trillions onchain.