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DeFi protocol Carrot announces upcoming closure, with May 14th as the deadline for fund withdrawals.
Mars Finance News, according to official sources, Solana ecosystem DeFi protocol Carrot announced it will soon shut down. Carrot stated that the Drift vulnerability exploitation incident has had a catastrophic impact on its ongoing operations. Carrot set May 14 as the deadline to withdraw remaining funds from Boost, Turbo, and CRT; after that, the system will begin deleveraging, reducing all leverage to zero, and releasing all liquidity for CRT redemption. Carrot said that any recovery funds from Drift will still be distributed as previously promised, but there is no specific timetable at this time.