Place the stainless steel inner pot inside the Instant Pot®. Press Saute and set time to 30 Minutes. Add the olive oil, once hot add the bacon, cook, stirring, until golden. Remove the bacon and add the shallots and cook for a couple of minutes or until translucent. Remove and add the chicken drumsticks, in two batches. The chicken should be browned on the skin side. Remove chicken and set aside. Finally add the red wine, broth, and tomato paste. Cook for 1 to 2 minutes, trying to dissolve the brown bits in the bottom of the pot. When done, press Cancel.