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Nagz@CrypAgy·22h

@DeFiCarrot Are you, @DeFiCarrot facing any liquidity issues? i.e., are you at risk from an operating standpoint?

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Carrot@DeFiCarrot·2d

1/ Update on Carrot following the Drift exploit. The Drift exploit hit Carrot hard. Assuming no fund recovery, CRT holders are facing a ~50% loss, which makes the adjusted price ~$57.65. Here's where things stand and what we're doing next

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Carrot@DeFiCarrot·1d

3/ The past few days have been horrible for many people. We feel that impact and responsibility. We will continue to update with information as we have it

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Carrot@DeFiCarrot·1d

2/ Timeline Our best estimation on when redeem will be live is ~10-14 days We hope to hear from Drift about the final verdict about the losses before we open up withdraws, but don't want to drag on.

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Carrot@DeFiCarrot·1d

1/ Update on Carrot We have been in touch with the @project0 team, and expect that we will see a 2% drawdown on the $781k PYUSD balance that was deposited there before the exploit, for an additional loss of $15.6k This we expect will adjust the CRT price to $57.5466

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Carrot@DeFiCarrot·1d

@doc_lunalabs @Titan_Exchange @kamino_swap it should be resolved now!

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Doc Lunalabs@doc_lunalabs·1d

@DeFiCarrot Hey carrot, can you use an alternative to jup to help choose a best path for unwinding and winding up positions? Maybe @Titan_Exchange and @kamino_swap as added alternatives?

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Carrot@DeFiCarrot·1d

We are aware of the issues currently preventing ONyc position closures on Boost. All funds are safe, no value has been lost or compromised there as a result of the Drift exploit. The issue is with Jupiter’s router attempting to use Perena’s star program for the swap, but they are blocked by MarginFi’s program being paused. We’ve been in touch with both teams but have yet to get a response.

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Carrot@DeFiCarrot·1d

@Ayyanrahman @JupiterExchange @onrefinance @kamino @Loopscale x.com/deficarrot/sta… Thank you for the quick response!

We’ve gotten word that @JupiterExchange has addressed the issue and users who had issues previously can now try again. Thanks for bearing with us If you still have issues please open a ticket in discord and we’ll assist.

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Ayyan Rahman@Ayyanrahman·1d

We have gotten into contact with the @JupiterExchange team and they acted very quickly to address the issue. Thank you to their engineers. @onrefinance it's business as usual, you can now proceed to close your positions on carrot and move to @kamino or @Loopscale.

We are aware of the issues currently preventing ONyc position closures on Boost. All funds are safe, no value has been lost or compromised there as a result of the Drift exploit. The issue is with Jupiter’s router attempting to use Perena’s star program for the swap, but they are blocked by MarginFi’s program being paused. We’ve been in touch with both teams but have yet to get a response.

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Carrot@DeFiCarrot·1d

We’ve gotten word that @JupiterExchange has addressed the issue and users who had issues previously can now try again. Thanks for bearing with us If you still have issues please open a ticket in discord and we’ll assist.

@XcarsonL43692 @JeffPAI87106000 @FabianoSolana @onrefinance x.com/deficarrot/sta…

We are aware of the issues currently preventing ONyc position closures on Boost. All funds are safe, no value has been lost or compromised there as a result of the Drift exploit. The issue is with Jupiter’s router attempting to use Perena’s star program for the swap, but they are blocked by MarginFi’s program being paused. We’ve been in touch with both teams but have yet to get a response.

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Carrot@DeFiCarrot·1d

We are aware of the issues currently preventing ONyc position closures on Boost. All funds are safe, no value has been lost or compromised there as a result of the Drift exploit. The issue is with Jupiter’s router attempting to use Perena’s star program for the swap, but they are blocked by MarginFi’s program being paused. We’ve been in touch with both teams but have yet to get a response.

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XcarsonREALperson@XcarsonL43692·1d

@JeffPAI87106000 @FabianoSolana @onrefinance @DeFiCarrot No one can withdraw

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fabiano.sol@FabianoSolana·2d

50% loss for CRT holders: CRT tanks 50% due to Drift hack This is unfortunately just the first post-mortem of a protocol having funds routed through Drift ps. loops (boost positions) like ONyc are unaffected

1/ Update on Carrot following the Drift exploit. The Drift exploit hit Carrot hard. Assuming no fund recovery, CRT holders are facing a ~50% loss, which makes the adjusted price ~$57.65. Here's where things stand and what we're doing next

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Carrot@DeFiCarrot·1d

Hey Jeff - we’re aware of the issue when trying to close the Boost position. Rest assured that the funds are safe and Boost had no exposure to the Drift exploit. At this time the issue is when redeeming ONyc on market - one of the routes from Jupiter is failing. We’re in touch with their team and hope to have a resolution quickly. Thanks for your patience

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Jeff PAINTER@JeffPAI87106000·1d

@onrefinance Please look into @DeFiCarrot Onyc can't be withdraw from their platform. Please support and protect your token holders. @DeFiCarrot needs to be removed from your defi page until they resolve this issue. I'm a large supporter on @onrefinance step in and help ur holders please

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OnRe@onrefinance·1d

While OnRe was not directly impacted by the Drift exploit, our thoughts are with those affected across the ecosystem. Moments like this test confidence in the short term. Over time, they clarify how systems are structured, how risk is contained, and how the ecosystem responds under pressure. The past 48 hours have been tough, but equally notable was how quickly teams coordinated and supported one another across @solana. That kind of response is what strengthens the ecosystem. OnRe is built on segregated reserves, defined control layers, and disciplined capital deployment into reinsurance contracts, with yield derived from underwriting income rather than reflexive onchain activity. With the safety of ONyc holders as a top priority, we’ve shared an overview outlining these design principles across safeguards, governance, and operational security. We continue to work with our partners to strengthen data integrity across our markets and remain committed to advancing a more secure and resilient DeFi ecosystem. Solana strong.

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Carrot@DeFiCarrot·1d

@BardyGG @eisharpy2 technically only 50% of the proverbial eggs made it to that basket. Any loss sucks, but to be clear here, Carrot was not exploited, Drift was where we were a depositor along with $272m others

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Bardy🧃@BardyGG·1d

@eisharpy2 @DeFiCarrot Something something don’t put all one’s eggs in one basket Not to kick a horse while it’s down of course

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Carrot@DeFiCarrot·1d

Nope not the case. Both of those products work on borrowing money. CRT supplies those $$ and is paid interest for it. None of the collateral deposited into carrot lend for the Turbo or Boost products will be used for anything other than users to withdraw. Two different sides of the table

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Reny ∞🏖️@billionmathew·1d

@DeFiCarrot @jsblair @DeFiCarrot So Turbo and Boost user liquidity is being used to cover CRT losses, meaning those product users are effectively taking the hit too, right? Essentially a liquidation, as @zyalone_ and pointed out!

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Carrot@DeFiCarrot·1d

@tuffsh0t @trilllllllllly Market price for CRT isn’t a factor. It’s value comes from the issued supply and the TVL backing the token

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tuffshot@tuffsh0t·1d

@DeFiCarrot @trilllllllllly Down 50%? I’m down 75%

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Carrot@DeFiCarrot·2d

@ice00_7 Turbo tokens not affected. Can wait to redeem if that helps. Going to adjust the redeem fee

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Isi@ice00_7·2d

@DeFiCarrot Are turboGold affected ? Need to sell them ?

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Carrot@DeFiCarrot·2d

@Alma_solana it would be evenly disbursed based on the snapshot data. will keep it separate from the redemption pool as that would unevenly distribute to later redeemers unfairly

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Alma | horny.sol@Alma_solana·2d

@DeFiCarrot If the funds are returned, will it increase the price of crt, or will the money be paid to holders at the time of the snapshot?

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Carrot@DeFiCarrot·2d

4/ Yesterday was devastating. For you and for us personally. We're here to answer questions or hear your comments. -- JSB

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Carrot@DeFiCarrot·2d

3/ What we need from you: - Unwind & withdraw Boost positions (unaffected by the exploit, but we need the liquidity freed for CRT redemptions) - Redeem your Turbo tokens Once liquidity is consolidated, we will open CRT redemption at the adjusted NAV. If funds are later recovered, they will be sent to you using the snapshot data.

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@EbullitionX x.com/jsblair/status…

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Carrot@DeFiCarrot·2d

JSB@jsblair

Wanted to address this publicly to clear up any confusion with CRT’s market price. The market price is separate from the mint/redeem NAV price. While mint/redeem is paused, there is no way for the market price to stay on line with NAV price. Currently the onchain accounting shows the full amount of deposit value in drift - as a result the NAV would be calculated incorrectly (NAV = TVL/Supply) Since we know the TVL is much less than reported if the drift accounts are now worthless… that is why mint/redeem is paused until we know for certain the value of those deposits. Once we know that, and that information is onchain we can resume the protocol functions and the final damage can be understood. Total gut punch of a situation, not only for drift, but also for the dozens of protocols and hundreds of users in the same boat as us. I’m here and available to answer questions, hear comments or talk more if you need to. - JSB

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Ebullition@EbullitionX·2d

@DeFiCarrot My crt shows now value in phantom now so I assume I’m fucked?

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