Carrot by Puffer
CARROT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
CARROT (Carrot by Puffer) was designed as a temporary, on-chain incentive token for Puffer Finance's Season Two rewards, intended to be converted into the primary PUFFER governance token. Significant data gaps exist across three sections—Active Development, Team and Governance, and Security and Audit History (all scoring -1.0 due to missing or non-matching entity records)—and these were excluded from the weighted average score calculation. Among the evaluated areas, Tokenomics received a score of 5.0/10 for its structured 100M capped supply, vePUFFER gauge voting mechanism, and 30-day vesting cliffs, though it primarily operates as an on-chain points mechanism with speculative arbitrage demand. Community Support scored 2.5/10 due to a tiny holder base (~924 holders) and lack of independent grassroots activities, while Market and Use Case scored 1.5/10 given near-zero trading liquidity, severe price drawdown from all-time highs, and illiquid aggregator listings. Furthermore, CARROT is a transitional, deprecated asset that converts into PUFFER, prompting an 'Avoid' recommendation under the deprecated token rule.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Carrot by Puffer (CARROT)
Carrot by Puffer (CARROT) is a deprecated transitional token introduced by Puffer Finance on Ethereum in January 2025, designed to be converted into PUFFER tokens following the Season Two snapshot on January 31, 2025. Created as an ERC-20 replacement for off-chain community points, CARROT served as an on-chain incentive distribution mechanism within the broader Puffer Finance ecosystem.
The token operates with a fixed total supply capped at 100 million tokens. It was distributed using a Curve-style gauge emissions system, where vePUFFER holders participated in bi-weekly governance votes to direct reward allocations. Claimed reward distributions were subject to a 30-day vesting cliff, with the token's ultimate utility centered on an eventual conversion into the primary PUFFER governance token.
Because CARROT was created strictly as a temporary rewards mechanism, it possesses no independent active development or dedicated governance pathways outside of the parent Puffer DAO. The token is marked by low liquidity, minimal trading volume, and a small holder base of roughly 924 addresses. It has experienced a severe price drawdown from its all-time high of CA$0.1581, functioning primarily as an illiquid transitional asset ahead of its planned conversion into PUFFER.