RedStone announces the launch of the DRILL program, intending to allocate 4.5% of RED supply to its core users

PANews reported on March 14 that DeFi oracle RedStone announced the launch of the RedStone DRILL program on the X platform, which will allocate 4.5% of the RED supply to RedStone's core users to reward early adopters of RedStone technology and incentivize the rapid growth of the RedStone ecosystem. The DRILL program is built through five strategic pillars to create a lasting impact: Develop, Reinforce, Innovate, Launch, and Learn.

1. The Development pillar accounts for 15% of DRILL's allocation, which is used to incentivize early adopters and reward the community for embracing cutting-edge assets; these tokens will flow into the distribution contract six months after the RED Token Generation Event (TGE); partner protocols can connect their capital pools, and the token distribution rate will scale according to their total locked value (TVL). 2. The Strengthening pillar accounts for 60% of DRILL's allocation, which is used to strengthen the security and robustness of data sources throughout the ecosystem; these funds will be deployed to the Eigen staking vault six months after the TGE to enhance security while gradually releasing returns to users of the protected capital pool; in the potential case of damage caused by the failure of the recorded price source, this part of the funds can serve as potential insurance compensation. 3. The Innovation pillar accounts for 20% of DRILL's allocation, which will enter the distribution contract six months after the TGE, and partner protocols can be allocated according to their TVL. 4. The Launch pillar accounts for 5% of DRILL's allocation, dedicated to helping new protocols get started. This allocation will begin six months after the TGE and continue according to the potential of early projects applying for and using the RedStone data source. 5. The learning pillar has no direct token allocation, but advocates the creation of research, dashboards, tools, and learning resources to highlight the critical role of high-quality data sources and oracles in DeFi.

DRILL plans to extract its 4.5% allocation from the "Community & Genesis" portion of RedStone's tokenomics. To qualify, projects must use RedStone products to secure their protocol TVL. But there is a catch: eligible projects need to airdrop their allocation to users of products directly secured by RedStone. The allocation split will depend on factors such as TVL protection, innovation, and the project's preference for RedStone as its oracle provider.