On March 14, the DeFi oracle protocol RedStone officially launched the RedStone DRILL program, aiming to reward early users and accelerate the ecosystem's growth. 4.5% of the total RED token supply will be distributed as part of this initiative.
The DRILL program is built on five strategic pillars to maximize long-term impact:
- Develop (15%) – Supports early adopters and incentivizes the adoption of new assets. Tokens will be distributed six months after the Token Generation Event (TGE).
- Reinforce (60%) – Strengthens data security and ecosystem stability. Tokens will be deployed to the Eigen staking vault six months post-TGE, protecting users while generating yield.
- Innovate (20%) – Supports partner protocols based on Total Value Locked (TVL), with tokens unlocked six months after TGE.
- Launch (5%) – Assists new protocols utilizing RedStone data, with distributions beginning six months post-TGE.
- Learn – No direct token allocation, but focuses on research, tool development, and education on the importance of high-quality data in DeFi.
Eligibility
Projects must integrate RedStone’s oracle solutions to protect their TVL and commit to airdropping tokens to users who directly benefit from RedStone's security features.
The DRILL program marks a significant step forward in expanding the RedStone ecosystem, contributing to a more transparent and secure DeFi market.
About RedStone
RedStone is a next-generation oracle protocol that provides off-chain data for dApps and Layer 2 blockchains. Unlike traditional oracles like Chainlink or Pyth Network, RedStone employs an on-demand model, supplying data only when smart contracts require it—reducing gas fees and improving operational efficiency.
Currently, RedStone has been integrated into Pendle, DeltaPrime, Morpho, Lido, Swell Network, Renzo, and supports EVM, non-EVM, Layer 1, and Layer 2 blockchains.
Read more: What is RedStone Oracle (RED)? The Optimal Oracle Solution for Layer 1 & Layer 2 Blockchains