TL;DR

Operating on Solana, Carrot is a yield‑aggregating DeFi protocol where users can deposit assets in return for the CRT token, which accrues yield from various strategies across the Solana ecosystem. Carrot manages positions and optimizes yield, allowing users to earn passively on deposits. The Turbo Tokens feature lets users hold leveraged positions on supported assets without the risk of liquidation.

---

Introduction

Today we’ll head back over to Solana, where on‑chain data shows there’s a lot more to the chain than just memecoins, and there are some solid yields to be found on a protocol called Carrot.

As always, you need to be fully aware of the risks before interacting with any DeFi protocol, as you’re opening yourself up to the possibility of smart‑contract exploits, front‑end attacks, and stablecoin de‑pegs. Make sure to check the official docs before depositing funds, pay attention to security and audits, and note that this guide is not an endorsement of Carrot.

---

Solana DeFi Is Growing

Solana may have gained a reputation as a memecoin casino, but the meme frenzy also helped consolidate its position as arguably the most easy‑to‑use, consumer‑friendly chain, and on‑chain data shows that it’s thriving as a venue for DeFi.

• Recently, Solana has been leading all other chains by 24‑hour and 30‑day DEX volumes, and it’s the second biggest chain by TVL, after Ethereum.

• Since launching at the end of October last year, spot SOL ETFs have recorded only green weeks and have not recorded a single red day since December 3rd, indicating a very positive overall picture for Solana.

---

What Is Carrot?

Operating on Solana, Carrot is a yield‑aggregating DeFi platform that revolves around its own yield‑bearing token, CRT. CRT is designed to accrue yield from stablecoin strategies across the Solana ecosystem, on platforms including Kamino, MarginFi, and Jupiter Lend, thereby letting holders take a passive approach after deploying capital.

The name “Carrot” comes from carrot and stick—the focus is on rewards and incentives, which is what every DeFi user is looking for.

How it works (user perspective)

1. Deposit stablecoins into Carrot.

2. The protocol takes over, allocating the funds to various yield‑generating strategies.

3. In return, you receive CRT tokens that increase in value as yields are earned.

There are no lock‑up periods, meaning you can redeem your funds (and collect any rewards) whenever you like, although there is a 0.05 % redemption fee.

CRT TVL on Carrot is currently only about $24 million, making it a small‑cap platform, so liquidity risks are higher than on larger, more established protocols. Nonetheless, it’s still worth taking a look around.

---

How to Use Carrot

There are various strategies you can take on Carrot. To get started:

1. Open the Carrot app and connect your wallet.

2. (Note: The author encountered a hurdle—using a VPN was required before the app would allow a connection, and the only wallet option presented was MetaMask, which is unusual for Solana where Phantom is the most widely used wallet.)

The article continues with a detailed walkthrough of the available strategies and the Turbo Tokens feature, but the remainder of the content is behind a subscription wall.

---

End of extracted article content.