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Solana Ecosystem DeFi Project Carrot Announces Shutdown
The Solana ecosystem DeFi project Carrot announced on the X platform that it will cease operations. The team stated that for more than two years, they have been dedicated to making DeFi simpler and more accessible to the public through CRT and Carrot Lend (including Boost and Turbo). However, the Drift security vulnerability incident has had a catastrophic impact on the platform’s ongoing operations. Carrot reminded users to withdraw any remaining funds from Boost, Turbo, and CRT by May 14, after which the platform will begin a systematic deleveraging process. The funds deposited by users will still belong to them, and all leveraged positions will gradually be reduced to zero to release all liquidity for CRT redemptions. If Drift undertakes any fund recovery actions related to the vulnerability incident, any compensation will still be distributed to users as previously promised.