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As Robinhood and SpaceX Dive into Tokenized Private Stocks, PIPE Exchange Opens the Next Frontier
8 Plays2 days ago
In this episode, we explore how giants like Robinhood and SpaceX are diving into the world of tokenized private stocks, reshaping the landscape of private equity investing. But the real disruptor? The PIPE Exchange — a new player that’s redefining access to decentralized exchanges, DeFi protocols, and tokenized assets for the next generation of global investors.
We break down:
• What tokenized assets are and why they’re revolutionizing access to private equity
• The rise of DEX (decentralized exchanges) and how they differ from traditional platforms
• The role of crypto liquidity, liquidity mining, and decentralized fundraising
• How DeFi protocols and Web3 investing are making markets more inclusive
• Why the PIPE Exchange may be your gateway to the next SpaceX-level opportunity
Whether you’re a Web3 enthusiast, DeFi builder, or just curious about the future of finance, this episode is packed with insights you won’t want to miss.
Recommended
Transcript
Introduction to the Podcast
00:00:00
Speaker
Hello, ladies and gentlemen, and welcome back to the Pipe GDAO podcast. I'm your host, Noodle, and today we're going to be talking about ah tokenization of real world assets and a bunch of other
What is Tokenization?
00:00:12
Speaker
stuff. Also talking about the PECs.
00:00:14
Speaker
But right now, I want to sort of talk about global trends right now, which is tokenization that's happening right now. So it refers to tokenization of RWAs is referring to converting ownership rights to tangible or intangible off-chain assets.
00:00:32
Speaker
So kind of like real estate, equity, debt or IP into blockchain-based tokens.
The Future of Tokenized Assets
00:00:40
Speaker
um This is kind of like by 2030, analysts from the Boston Consulting Group, CITI, KPMG, estimate 10 to 16 trillion of tokenized assets will exist on chain.
00:00:55
Speaker
So key benefits of that would be obviously liquidity, which is previously illiquid assets like private equity equity or early stage R&D become tradable. Access would mean, which is because of fractional ownership, which would open the door to retail investors globally.
Adoption and Impact on Traditional Finance
00:01:13
Speaker
Transparency, which is obviously on-chain data, which gives a verifiable audit trail. And programmability, which is smart contractors automate compliance payouts and governance.
00:01:25
Speaker
So driving factors like TradFi adoption, major institutions now validate RWA tokenization as part of the future. Regulatory clarification jurisdictions like the EU, Singapore and the UAE are establishing clear paths for tokenized finance.
00:01:42
Speaker
DeFi stagnation as pure crypto speculation wanes, demand shift to real world utility and yield bearing products.
Institutional Interest in Tokenization
00:01:51
Speaker
This is not a theoretical trend. It's unfolding right now and the retail investors getting locked out again unless truly open platforms are built.
00:02:01
Speaker
So this kind of stuff is all happening because there was a massive power move by a man called Franklin Templeton. So in early of this year, 2025, Franklin Templeton, he issued a tokenized private equity vehicle with exposure to SpaceX, which was hosted on public mission blockchains like Avalanche or Stellar,
00:02:26
Speaker
These tokens represent economic exposure, not voting rights to SpaceX's shares held by Franklin. So this is a real institutional validation of tokenized private markets. It also shows that tokenization is not inherently decentralized.
00:02:43
Speaker
So Franklin's SpaceX token is permissioned. So it's only qualified institutional investors or high net worth individuals can access it. And it's custodial. So you'd be buying exposure to an asset they custody and control and illiquid outside of their network.
00:03:02
Speaker
So tokenization does not necessarily equal
Retail Interest and Limitations
00:03:05
Speaker
demo democratization. So Franklin's version replicates the same old power structure, but it's just on chain. ah Whereas, you know, here comes Robinhood with tokenized stocks. So in mid 2025, Robinhood launched tokenized stocks and ETFs, which is including synthetic exposure to public equities like Tesla and Apple, private companies like SpaceX and OpenAI.
00:03:32
Speaker
And it's only available in Europe due to US regulatory restrictions. So these tokens track real-time market prices, are not backed by actual shares, are synthetic de deriv ah derivatives, not equity.
00:03:49
Speaker
So why that matters is Robinhood moves move signals that retail appetite for RWA tokens is enormous. They're experimenting with fractuction fractionalized 24-7 markets for assets that usually trade in walled gardens. But again, you don't own the underlying assets You are trading a contract that tracks the price.
Democratizing Finance through Tokenization
00:04:12
Speaker
But of course, that comes with limitations. So Robinhood still owns the rails, but it's still a Web2 company offering a Web3 wrapper with no governance, no equity rights and limited global access. But again, why does this matter for global finance?
00:04:29
Speaker
Well, the current financial system is kind of shifting because right now it's exclusive, only accrediting investors that get early access to high growth companies. It's opaque, so private deals would be happening behind closed doors and silos of innovation and universities and R&D institutions get stuck in trents tech transfer limbo.
Introducing PEX: A Decentralized Exchange
00:04:52
Speaker
So RWA tokenization could globalize private equity or private capital markets, sorry, giving developing nations and average citizens access to previously off-limit investment opportunities, breakdown institutional monopolies on access to yield, and bridge DeFi and TradFi, which is pulling in real utility capital and growth, but only if it's done right.
00:05:23
Speaker
So here's the hard truth. If you missed early Bitcoin, if you missed early DeFi, and if you miss SpaceX on chain, it might feel like the Alpha train already left the station, but guess what?
00:05:35
Speaker
A new wave is forming and it's not just bigger, it's smarter, more intentional and laser focused on real world impact. That wave is the pipe exchange, AKA PEX.
00:05:48
Speaker
And if you've ever dreamed of being a seed stage investor in world changing science, this is your portal. So PEX is the final component of the PIPE ecosystem, a decentralized exchange purpose built to turn lab bench ideas into liquid markets, to let the public trade in real research from day one and to enable a fully decentralized version of what NASDAQ should have become.
00:06:15
Speaker
and today we're going to be breaking it all down so first things first what is pex the pipe exchange 101 again you can see this all on our white paper which is linked on our website so pex it's just you know it's not just another dex it's a decentralized community governed trading platform where early stage university innovations We're talking deep tech, biotech, green tech and many, many, many more are tokenized into financial assets and traded on chain.
The PIPE Ecosystem and Research Funding
00:06:51
Speaker
But of course, unlike the meme coins that we see so regularly nowadays, all synthetic stocks again something that is very regular these tokens are tied to real legally structured investment claims in real world ventures so at its core the pex performs two key functions it's a decentralized marketplace for claim NFTs which are ERC 1155 tokens that represent fractionalized economic rights in pipe funded ventures and it's a complement a compliant security token offering or an STO launchpad
00:07:31
Speaker
for projects that hit key funding and development milestones. Typically one once 2 million euros in capital is deployed through the PGFDAO. 2 million euros, 2 million USD, 2 million pounds, or whatever currency you use. That's just the general rule.
00:07:52
Speaker
So think of it like, I guess, an innovation funnel. So pre-STO is highly liquid, milestone-based, KPI gated, trained trading of claim NFTs.
00:08:05
Speaker
Whereas post-STO, is regulated, it's on-chain equity accessible to anyone who got in early. So this will go on to obviously break the entire legacy model where capital is gated and the exits are slow and retail is always late to the party.
00:08:25
Speaker
With PEX, you don't have to be a VC insider or sit on a university tech transfer board to get early exposure to world-class science.
How PEX Provides Liquidity
00:08:37
Speaker
So again, this is how PEX will go on to complete the Pipe ecosystem, or not even go on, how it does complete the Pipe ecosystem. So to really appreciate PEX, you need to zoom out and see the full picture.
00:08:52
Speaker
Pipe isn't just a launch pad, it's a full stack capital formation system engineered for research and innovation. Each layer is built to solve a systematic failure in how science gets funded, commercialized, and scaled.
00:09:08
Speaker
So the PIPE platform is where university researchers submit proposals, validate IP and prepare for tokenized funding. Whereas the PGFDAO or the Public Goods Funding DAO is a milestone based funding protocol that deploys capital through governance approved trade tranches.
00:09:31
Speaker
Right. So transparent, accountable and fast. PEX, the liquidity layer, this is where projects get a real market price, so investors gain ah option optionality, and early believers can exit or double down or trade into new ventures. So here's how it flows.
00:09:53
Speaker
One, a university-based startup would go on to submit a proposal on PIPE. Two, it will then be vetted by community experts, peer-reviewed, and if approved, receives initial capital via the PGF DAO.
00:10:08
Speaker
3 Early supporters receive claim NFTs that represent investment exposure 4 As the project hits KPIs, like prototype certifications or clinical milestones, those NFTs become tradable on PECS 5 Once 2 million in funding is secured, the project initiates an STO, issuing tokenized equity that complies with EU and Swiss regulations Six, future revenue is channeled back to the DAO and distributed to claim NFT holders.
PEX's Dual Token Architecture
00:10:43
Speaker
So again, this isn't a launch pad with exit scams and pump and dumps. This is a closed loop, anti-fragile tokenized research economy.
00:10:55
Speaker
So now we're going to be talking about obviously the token mechanics, so claim NFTs and soulbound DAO i identity. PEX is built on a dual token architecture that separates speculative liquidity from long term accountability.
00:11:12
Speaker
So ERC1155 claim NFTs. So each NFT represents a financial claim on a pipe funded venture. These are modular, upgradable and KPI gated.
00:11:27
Speaker
The better a project performs, the more valuable the NFT becomes. And these NFTs are tradable on PECs with full provenance and audibility. The ERC-6551 sole bound tokens, or SBETs, these are non-transferable tokens that anchor your identity to the PGF DAO.
00:11:51
Speaker
They track your governance participation, voting power, and eligibility for revenue sharing and airdrops. You can't flip your way into power. Here, you have to earn it through engagement.
00:12:04
Speaker
This creates a layered economy where short-term liquidity and long-term governance are decoupled, allowing for fast markets and slow power.
Comparing PEX and Robinhood
00:12:13
Speaker
But again, let's get serious for a sec.
00:12:15
Speaker
Because none of this matters if compliance isn't rock solid. PEX operates under Swiss jurisdiction with full alignment to MyFed, to an MICA which are Europe's most robust digital asset frameworks.
00:12:33
Speaker
All investment activity from staking to NFT trading to equity issuance is structured to pass legal scrutiny today so it's not in some hypothetical future.
00:12:46
Speaker
Key security layers obviously include multi-sig wallets modeled after Notis Safe for DAO treasury management, programmable smart contracts that embedded milestones, gating, claim, distribution, and liquidity rules.
00:13:17
Speaker
and then it also will go on to sorry seem to have lost myself there uh the hybrid governance so it's on-chain voting off-chain legal enforcement via a dow elected fund master with emergency veto powers oh and um actually whilst i get into this so it's kyc aml so it's mandatory for all participants participating impacts so whether you're a researcher ah raising funds or a degen looking to mint ah this isn't defy chaos it's actually completely regular regulate regulated sorry stuttering regulatory grade decentralized capital so think of it as the switzerland of science backed crypto
00:14:05
Speaker
Now we're going to be looking at what PEX is like versus I guess more traditional avenues like Robinhood.
A Biomedical Researcher's Experience with PEX
00:14:12
Speaker
So we're going to be doing a gut check on how does the Pipe Exchange actually stack up against obviously legacy fintech like Robinhood. So market access Robinhood is post IPO only, whereas the Pipe Exchange is pre-seed and milestone gated.
00:14:31
Speaker
So asset types with Robinhood are derivatives and synthetics, whereas obviously with PEX, the real world tokenized claims plus STOs, as I've just covered.
00:14:45
Speaker
Governance with Robinhood is centralized and it's opaque, whereas with PEX, it's Dow led with formal oversight. Value model is with Robinhood is trade only profits.
00:15:00
Speaker
And then with PEX, it's trade plus equity plus dividends. And the user role with Robinhood is kind of as a passive spectator. Whereas if you're a user with PEX, you then become or take the role as an active stakeholder.
00:15:17
Speaker
So Robinhood lets you buy Tesla after the factory is built. PEX lets you fund the inventor still in the lab. then ride the upside all the way to revenue.
00:15:30
Speaker
So one is rent seeking, the other is borderline co-creation at that point. So we're going to be doing a case study again from lab to liquidity. So we're going to be painting a picture here.
00:15:43
Speaker
A, I guess, biomedical researcher in Germany, Munich has developed a bioabsorbable sensor for post-surgical monitoring.
00:15:56
Speaker
No removal surgery, real-time data and zero long-time side effects or long-term side effects, sorry. She then will go on to apply to Pipe.
00:16:07
Speaker
Her tech is vetted, the IP then secured for her, and she receives her initial DAO funding. So milestone one would look like pre-clinical trials passed and clean out claim NFTs would then go on to get their first bump.
00:16:23
Speaker
Milestone two is the CE certification will be earned. So the NFTs unlock full tradability on the PEX. And milestone three, 2 million raised.
00:16:34
Speaker
So the project launches a compliant STO or solebound token. Now her research is backed by thousands of stakeholders across Europe, claim NFT holders receive revenue dividends from product sales, the Dow earns yield, the scientist retains control, the lab becomes a liquid market, all without selling out to VC vultures or drowning in beyond bureaucracy.
PEX's Vision for a Decentralized Market
00:17:06
Speaker
But obviously this is all well and good, but what's next for the PEX? You know, the strategic vision. So PEX is just the launch pad. What's coming next is fully decentralized capital market built for impact.
00:17:21
Speaker
So the PIPE index is a real-time tokenized performance benchmark tracking ah ah ROI across all DAO-funded ventures like the S&P 500, and p five hundred for scientific innovation.
00:17:35
Speaker
Sector Guilds or XXDAOs, focus groups like BioDAO, GreenDAO, AgriDAO, each with independent treasuries and governance sourcing sector specific innovation.
00:17:48
Speaker
Actually, just to link back to XXDAOs, back in the early days of me working for this company, I wrote a blog which was all about how DAOs can be used to clean up the oceans and stuff like that.
00:18:05
Speaker
And it's still available on on our site if you want to go to the blog section. And it kind of paints the image of what an XXDAO would work like. And you know the how that pot of money could be used, what the system would look like, I guess.
00:18:21
Speaker
So if you want to have an image of ah the sector guilds or the XXDAOs, please go and check out that blog because I worked really hard on it. And I reference it all the time because it is just that good.
00:18:35
Speaker
And I'm not blowing my own trumpet there. It is class. But again, sorry, what is next for the strategic vision of PEX is the royalty streams and bonds, of course, tokenized and yield bearing assets from late stage ventures, allowing for fixed income DeFi instruments with real world cash flow.
00:18:56
Speaker
This is the future of capital formation, decentralized, sector specific and deeply aligned with measurable outcomes.
Risks and Mitigation Strategies
00:19:06
Speaker
But of course, everything we do comes with risks.
00:19:10
Speaker
So the road isn't smoothed smooth, of course, but in this case, it has been paved. So Pipe doesn't pretend to be risk free. And here's kind of like what we're going to be looking at, what we're watching. So regulatory overreach, new laws could potentially restrict tokenized securities.
00:19:29
Speaker
Pipe has backup LP structures and dynamic legal tooling, which is ready to pivot for that. Speculication risk, so claims NFTs could pump beyond fundamentals, that's why KPIs and milestones gating are non-negotiable.
00:19:44
Speaker
Academic supply chain, innovation must flow continuously. Pipe already has MOUs with over 20 European universities and is an onboarding new IP weekly.
00:19:56
Speaker
So the system is modular, the governance is agile and the infrastructure is ready.
Listener Engagement and Conclusion
00:20:04
Speaker
So how to join the pipe movement. So I guess are you ready to level up? You're going to want to stake USDC into the PGF DAO to back new research. You must mint your first claim NFT and monitor KPIs.
00:20:20
Speaker
I guess pick your guild, so MedTech, Climate Tech, Agrotech, Decide Tech, each with its own investment thesis. Vote, propose and guide milestone-based funding allocations.
00:20:32
Speaker
Trade, hold or convert into STO equity when projects hit success. This isn't just investing, it's architecture in the future of science.
00:20:43
Speaker
So I guess, you know, obviously if we've after we've covered all that, my closing thoughts would be that I guess the Pipe Exchange, we're kind of in the final gear in the innovation machine. So we're transforming ideas into assets, research into revenue and participation from you into profit.
00:21:04
Speaker
And this is taking place, obviously, in a world where capital markets feel, guess, kind of rigged and science gets stifled. Pipe offers an alternative, decentralized, transparent and aligned with real world impact.
00:21:19
Speaker
So you didn't miss Bitcoin. You didn't miss DeFi. And if you're listening now, you're early to the capital market of the future but i guess that's a wrap for me with this deep dive into the pipe exchange so if your mind's still spinning with the possibility head to our telegram or jump into the discord followers on x or farcaster and you know even go and claim your role in the future of finance and with the next episode well I guess we'll just have to wait and see. But just a little hint, we might be decoding the pipe index and how it could be one of the most important benchmarks in decentralized ventures.
00:22:00
Speaker
But until then... Please stay curious, stay compliant and always stay decentralized. I've been your host Noodle and again, sorry, just to reiterate, please do follow us on X, you know, the pipe GDAO, all of that.
00:22:17
Speaker
Please follow us. We have a lot of fun. We do daily AMAs over there, 7pm, 6pm on Fridays. Don't do weekends though. um And yeah, please do.
00:22:29
Speaker
Follow us on TikTok as well. ThePipeGDow, I post on there. Would be nice to get some more followers. Thank you very much.