$9B TVS and official feeds for BlackRock BUIDL, Apollo ACRED, VanEck VBILL — RedStone earned its institutional seat. But bundling price feeds, OEV capture (Atom), and Credora risk ratings into one stack means the same entity now determines the price, sets the risk threshold, AND profits from the liquidation. That's a vertical integration moat until a lending DAO asks why their oracle provider is also extracting their liquidation bonuses. The AI agent TAM is noise — ERC-8004 had 10K testnet agents and pull-model delivery is genuinely better for autonomous execution, but that's a feature, not a $52B market.

Top comment by @Benthic