DeFi protocol Carrot has announced its impending shutdown, with May 14th being the deadline for fund withdrawals.

CoinFeed reported on May 1st that Carrot, a DeFi protocol within the Solana ecosystem, has announced its impending shutdown. Carrot stated that the Drift exploit had a catastrophic impact on its continued operations. Carrot has set May 14th as the deadline for withdrawing 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 redemptions. Carrot stated that any recovery funds from Drift will still be distributed as previously promised, but there is currently no specific timetable.