Solana-based DeFi protocol Carrot announces closure, sets May 14 as the final withdrawal deadline.

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Release Time: 05/01/2026 02:46:45

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Summary

The Solana-based DeFi protocol Carrot announced a protocol update on May 1, 2026, confirming its closure due to the severe impact of a DeFi exploit tied to the Drift vulnerability. Users have until May 14 to withdraw funds from Boost, Turbo, and CRT. After this date, the system will begin deleveraging to release liquidity for CRT redemptions. Carrot emphasized that user deposits remain the property of users, and any recovered funds from Drift will be distributed as outlined.

BlockBeats report: On May 1, the Solana-based DeFi protocol Carrot announced that its ongoing operations have been severely impacted by the Drift vulnerability incident, and Carrot will shut down. Carrot has set May 14 as the deadline for users to withdraw remaining funds from Boost, Turbo, and CRT. After this date, the system will begin deleveraging, reducing all leverage to zero to release full liquidity for CRT redemptions.

Carrot stated that funds deposited by users remain the property of the users, and any recovery efforts by Drift will be distributed as previously described, though the specific timeline has not been clarified.

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