Solana ecosystem DeFi project Carrot announces shutdown

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Golden Finance reports that Solana ecosystem DeFi project Carrot posted on X platform announcing the cessation of operations, stating that over the past two years, the team has been dedicated to making DeFi simpler and more accessible to the public through CRT and Carrot Lend (including Boost and Turbo), but the Drift security vulnerability incident has had a catastrophic impact on the platform’s ongoing operation.
Carrot reminds users to withdraw remaining funds from Boost, Turbo, and CRT before May 14; the platform will then begin a systematic deleveraging process. Funds deposited by users still belong to the users, and all leveraged positions will gradually be reduced to zero to free up liquidity for CRT redemption. If Drift conducts any fund recovery actions related to the vulnerability incident in the future, relevant compensation will still be distributed to users as previously promised.

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