Heat olive oil in a large pot or Dutch oven over medium heat. Add carrots and onion and cook until softened, about 5-7 minutes. Add garlic and cook for another minute.

Add split peas, vegetable broth, and bay leaf to the pot. Bring to a boil, then reduce heat to low, cover, and simmer for 30-35 minutes, or until the split peas are tender.

Remove the bay leaf. Using an immersion blender or a regular blender (in batches), blend the soup until smooth or leave some texture, if desired.

Stir in soy sauce, cayenne pepper (if using), and liquid smoke (if using). Taste and adjust seasonings as needed.

Serve hot.