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Solana ecosystem DeFi protocol Carrot is shutting down, with May 14th as the deadline for remaining fund withdrawals.
BlockBeats News, May 1 — The Solana-based DeFi protocol Carrot announced that due to the Drift vulnerability incident, its ongoing operations have been severely impacted, and Carrot will shut down; Carrot has set May 14 as the deadline for withdrawing remaining funds from Boost, Turbo, and CRT, after which the system will begin deleveraging, reducing all leverage to zero to free up all liquidity for CRT redemption.
Carrot stated that user deposits still belong to the users, and any recovery work for Drift will continue as previously described, with no specific timetable clarified.