Frequently Asked Questions

We’ve compiled the most often asked questions that we hear and complied those answers here.

DeFi can be a confusing place sometimes, and we want to be a helpful resource for you, if you find you have additional questions that aren’t addressed here, please email help@deficarrot.com or connect in our Discord

What does Carrot do?

Carrot is a dapp on the Solana blockchain that helps users earn high yields on their stablecoins in an automated format. It uses a single yield-bearing token to simplify investments and continuously monitors and optimizes yield opportunities across the Solana borrow/lend platforms such as Kamino, MarginFi, and others.

How is the yield earned?

We love real yield! The yield is earned through automated optimization algorithms that smart-routes stablecoin lending, ensuring that funds are continually rebalanced to capture the best rates. Yield is paid in stablecoins. You can learn more in How Carrot Works

Are there any fees?

Technically there is no fee to use CRT. However, to protect the protocol from exploit, we do enforce a 0.01% redemption fee. This "fee" however is put back towards the pull, benefiting all holders as extra yield and is not considered as any sort of revenue.

How does the yield get paid to me?

Yield is automatically accrued and reflected in the value of the Carrot token held in your wallet. When you redeem your CRT tokens, you receive back the initial stablecoins you deposited and the yield accrued.

When can I withdraw my stablecoins?

You can withdraw your stablecoins at any time without any lockup period. The process is designed to be straightforward and flexible to meet users' needs.

How do I get CRT?

You can obtain CRT (Carrot tokens) by minting using your USDC directly from our dapp, or swapping for CRT through a dex offering a liquidity pool aggregated on Jupiter.

What risks should I know about?

There are always risks when interacting with dapps and DeFi. The underlying stablecoins (USDC/USDT) can lose their peg to the US dollar. A significant exploit or hack can occur to Carrot or the pools that Carrot operates within on various borrow/lend protocols. Carrot takes precautions by actively monitoring partner protocols on the blockchain level to be among the first to know and mitigate potential issues, but it cannot eliminate this risk.

How do you manage risk?

Carrot employs risk management strategies, including diversification across different yield opportunities and continuous monitoring of the platform's performance and partner protocols inflows/outflows to mitigate potential risks.

Have you been audited?

Yes, Carrot has undergone audits to ensure the security and reliability of the platform by industry-leading firm Sec3 (famously known as the firm that Jupiter used for their audit). View the Audit Report

What about my points damnit!?

Points earned on the platform may be linked to incentives or rewards, but are currently unreleased. Stay tuned!

What fees are there and when do you make money?

Carrot does not currently charge any fees and is free to use. If Carrot does charge fees in the future, they will be deducted from the yield generated. Rates will always be displayed after fees for complete transparency.

How do I know if my token is the real CRT?

CRTx1JouZhzSU6XytsE42UQraoGqiHgxabocVfARTy2s

Only tokens with this account address are the real token.

What is the program account for the Carrot protocol?

CarrotwivhMpDnm27EHmRLeQ683Z1PufuqEmBZvD282s