Frequently Asked Questions

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General

What is Carrot?

Carrot is a DeFi hub on Solana offering yield, leverage, and borrowing through managed products. Instead of connecting to multiple protocols and managing positions yourself, Carrot automates the execution and monitoring. See What is Carrot? for the full overview.

What products does Carrot offer?

Carrot has five products: Earn (CRT) for passive stablecoin yield, Boost for leveraged yield farming, Turbo for managed leveraged exposure, Lend for direct pool lending, and Borrow for collateralized loans. See the Product Overview to compare them.

Does Carrot charge management fees?

No. Carrot charges 0% management fees across all products. The only fees are:

• CRT: 0.05% redemption fee
• Boost: Variable origination and borrowing costs
• Turbo: ~0.5% issue fee and ~1% redemption fee

All fees are visible before you confirm any transaction.

How is Carrot different from using protocols directly?

Carrot aggregates across 8+ lending protocols simultaneously, rebalances automatically, and diversifies across multiple stablecoins. You'd need to manage all of this manually if using protocols directly. See Why Carrot? for a detailed comparison.

Earn (CRT)

What is CRT?

CRT is Carrot's yield-bearing token. When you deposit stablecoins (USDC, USDT, or PYUSD) into the Carrot vault, you receive CRT tokens. The vault automatically earns yield across Solana lending protocols, and CRT's value rises as interest accrues. See What is CRT? for details.

How is the yield earned?

The vault deploys your stablecoins across 8+ lending protocols on Solana (Kamino, Save, Drift, JupLend, Gauntlet, NeutralTrade, cLend, and Boost pools). Interest from borrowers on these protocols flows back to the vault, increasing CRT's NAV. See How CRT Works.

How does yield get paid to me?

Yield is reflected in CRT's rising NAV (net asset value). You don't need to claim, stake, or compound anything. When you redeem CRT, you receive your original deposit plus all accrued yield.

When can I withdraw?

At any time. There are no lock-up periods. Redeem CRT for your choice of stablecoin whenever you want.

What fees does CRT have?

CRT has a 0.05% (5 basis points) redemption fee — applied when you withdraw. There are no management fees and no performance fees. The redemption fee protects the vault from arbitrage.

How do I get CRT?

You can deposit USDC, USDT, or PYUSD directly through the Carrot app, or swap for CRT on Jupiter.

How do I verify the real CRT token?

The CRT token mint address is:

CRTx1JouZhzSU6XytsE42UQraoGqiHgxabocVfARTy2s

Verify on Solscan. Only tokens with this mint address are genuine CRT.

Is CRT's APY guaranteed?

No. CRT's APY is derived from historical performance (7-day, 14-day, and 30-day windows). Lending rates fluctuate based on supply and demand across Solana DeFi. Past performance is not indicative of future results.

Boost

What is Boost?

Boost is Carrot's leveraged yield farming product. You deposit yield-bearing assets (JLP, FLP, or ONyc) as collateral, set a leverage level, and Carrot automates the looping to amplify your yield. See What is Boost?.

Can I get liquidated on Boost?

Yes. Boost positions have a health factor. If your collateral's value drops enough relative to your debt, your position can be partially liquidated. A 7% liquidation penalty is applied to the portion used to repay debt. Higher leverage means higher liquidation risk.

What does the health factor mean?

The health factor measures how safe your position is. Above 0% is safe. At 0%, your position reaches the liquidation threshold. Monitor your health factor in the Boost interface, especially during volatile markets.

What assets can I use with Boost?

Currently: JLP (Jupiter LP), FLP.1 (Flash LP v1), and ONyc (OneNyc). These are yield-bearing assets that earn native yield, which Boost amplifies through leverage.

How is Boost different from Turbo?

Boost gives you control — you set and adjust leverage, and you monitor your health factor. Turbo is fully managed — you just buy and sell tokens. Boost uses yield-bearing assets (JLP, FLP, ONyc) for leveraged yield farming. Turbo provides directional leverage on assets like SOL and BTC. See the comparison table.

Turbo

What are Turbo tokens?

Turbo tokens are managed leverage tokens. Each one represents a share of a vault that maintains leveraged exposure to an underlying asset (SOL, BTC, GOLD, etc.). The vault handles all leverage management and rebalancing automatically. See What is Turbo?.

Can I lose money with Turbo tokens?

Yes. Turbo tokens use leverage, which amplifies losses as well as gains. If the underlying asset drops in price, your Turbo token's value drops faster. There is no user-facing liquidation, but that does not mean there is no risk of loss.

What Turbo tokens are available?

TurboSOL (SOL), TurboBTC (cbBTC), TurboWET (WET), TurboORE (ORE), TurboZEC (ZEC), and TurboGOLD (GOLD). See the full token list for mint addresses.

What are the fees for Turbo tokens?

Approximately 0.50% (50 bps) when buying and approximately 1.00% (100 bps) when selling. Exact fees vary per vault and are shown before you confirm. There are also variable execution costs and borrow rates within the vault.

What is NAV decay?

In choppy or sideways markets, frequent rebalancing can erode a Turbo token's NAV over time. This happens because the vault may buy at higher prices and sell at lower prices during rebalancing. Turbo tokens work best with directional conviction over meaningful time periods.

Security

Has Carrot been audited?

Yes. Carrot's smart contracts have been audited by two firms:

• Sec3 — The firm that audited Jupiter. View the Sec3 audit report
• MadShield — Known for their work with Raydium, Metaplex, and Phoenix. View the MadShield audit report

What risks should I know about?

Every Carrot product carries risk. The main categories are:

• Smart contract risk — Bugs in Carrot's contracts or integrated protocols
• Stablecoin depeg risk — USDC, USDT, or PYUSD could lose their peg
• Protocol exploit risk — An integrated protocol could be compromised
• Liquidation risk — Applies to Boost and Borrow positions
• Variable yield — Rates change based on market conditions

Carrot mitigates these through diversification, active monitoring, and audits — but cannot eliminate them. See Risks for a detailed breakdown.

How does Carrot manage risk?

Carrot employs multiple risk management strategies:

• Diversification across 8+ lending protocols
• Diversification across multiple stablecoins (USDC, USDT, PYUSD)
• Active blockchain-level monitoring of all partner protocols
• 24/7 automated surveillance for early risk detection
• Regular security audits

Getting started

What wallets does Carrot support?

Carrot works with Solana wallets including Phantom, Solflare, and Backpack. Connect your wallet at use.deficarrot.com.

What network does Carrot run on?

Carrot runs on Solana mainnet.

What is the Carrot program account?

CarrotwivhMpDnm27EHmRLeQ683Z1PufuqEmBZvD282s