Chainlink is finally getting its moment again. The Oracle narrative is heating up, and it’s clear the market is beginning to understand that oracles are the backbone of both DeFi and the next wave of tokenized RWA. Among the majors, Chainlink remains the leader. But if you're looking for asymmetric plays within the same thesis, one project stands out to me: @redstone_defi They’re growing fast and remain massively undervalued relative to peers. The best way I’ve found to compare oracles is using TVS (Total Value Secured) vs FDV. Think of TVS as the oracle equivalent of TVL - except arguably even more important since oracles underpin protocol security and function. Here’s how it looks: Chainlink (LINK): 90B TVS / 25B FDV = 3.6 Pyth Network (PYTH): 8B / 1B = 8 API3 (API3): 1B / 0.2B = 5 RedStone (RED): 7B / 0.4B = 17.5 Worth noting: DeFiLlama is still updating its oracle methodology, so some of these numbers will likely shift. But the direction is already clear. When fundamentals start to diverge from price, opportunities appear. Disclosure: I’m an advisor to RedStone.