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

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 rapid growth of the RedStone ecosystem. The DRILL program is built on five strategic pillars aimed at generating lasting impact: Develop, Reinforce, Innovate, Launch, and Learn. 1. The development pillar accounts for 15% of DRILL's allocation, which is used to motivate early adopters and reward the community for embracing cutting-edge assets; Six months after the RED Token Generation Event (TGE), these tokens will flow into the distribution contract; The partner agreement can connect their fund pool, and the token allocation speed will be expanded based on their total locked value (TVL). 2. Strengthen the pillar, which accounts for 60% of DRILL's allocation, to enhance the security and robustness of data sources throughout the entire ecosystem; These funds will be deployed to the Eigen staking vault six months after TGE to enhance security, while gradually releasing profits to users of the protected fund pool; In the potential case of damage caused by the failure of the recorded price source, this portion of funds can be used as potential insurance compensation. 3. The innovation pillar accounts for 20% of DRILL's allocation, and these funds will enter the distribution contract six months after TGE. Partner agreements can be allocated based on their TVL. 4. The Launch pillar accounts for 5% of DRILL's allocation, dedicated to helping the new protocol get started. This allocation will begin six months after TGE and continue based on the potential of early projects applying for and using RedStone data sources. 5. The learning pillar does not have direct token allocation, but advocates the creation of research, dashboards, tools, and learning resources to highlight the key role of high-quality data sources and oracle machines in DeFi. DRILL plans to extract its 4.5% allocation from the "Community and Genesis" section of RedStone token economics. To qualify, the project must use RedStone products to protect its protocol TVL. But there is one condition: eligible projects need to be airdropped to product users directly protected by RedStone. The allocation and segmentation will depend on factors such as TVL protection, innovation, and the project's preference for RedStone as its oracle provider.