naro: add Agent-native CeDeFi BTC vault (BTCvp on Pharos)

[vincentcaptain]

New listing

Field	Value
Name	Naro
Parent protocol	Vishwa
Description	Agent-native CeDeFi vault — a yield-bearing BTC vault (same TVL model as BitFi bfBTC). Deposited BTC is custodied and deployed to centralized venues where curators run the trading strategy; BTCvp is the on-chain receipt token (1:1 claim on the deposited BTC).
Website	https://vault.vishwalab.com/btcvp
Twitter	https://twitter.com/Vishwa_lab
Category	CeDeFi
Chain(s)	Pharos
Token (receipt)	BTCvp — 0x79d154287ddc77e5c10127e68c2df1a942a330bb (Pharos Pacific, chainId 1672, 8 decimals)
Audits	Yes — VishwaProofToken (BTCvp) audited by ExVul, and the MCP server audited by Fuzzland: https://docs.vishwalab.com/security/audits-and-compliance
Is it a fork?	No

Methodology: TVL = BTCvp.totalSupply on Pharos, priced 1:1 as BTC (BTCvp is 1:1 BTC-backed, 8 decimals) via api.addCGToken('bitcoin', supply/1e8) during the pre-deposit phase through August. The backing BTC is custodied and traded at centralized venues via AI agents' guidance. The TVL reports adopt the same reporting model as projects/bitfi-cedefi.

Notes: Separate product and separate custody from Vishwa BTCvc (projects/vishwa) — no cross-count. Protocol metadata (parent Vishwa, category CeDeFi, logo) will also be submitted via the listing form.

[coderabbitai]

📝 Walkthrough

Walkthrough

Adds a Naro DeFiLlama adapter that calculates Pharos TVL from BTCvp total supply, converts the value to BTC, and prices it through Bitcoin. Documentation identifies the methodology and excludes centralized backing wallets.

Changes

Naro BTCvp TVL

Layer / File(s)	Summary
BTCvp supply valuation projects/naro/index.js	Documents the receipt-token TVL methodology, reads BTCvp totalSupply from Pharos, converts 8-decimal units to BTC, and registers the value with addCGToken("bitcoin", ...).

Estimated code review effort: 2 (Simple) | ~10 minutes

Sequence Diagram(s)

sequenceDiagram
  participant DefiLlamaAdapter
  participant PharosBTCvpContract
  participant BitcoinPricing
  DefiLlamaAdapter->>PharosBTCvpContract: call totalSupply
  PharosBTCvpContract-->>DefiLlamaAdapter: return BTCvp supply
  DefiLlamaAdapter->>BitcoinPricing: addCGToken("bitcoin", BTC amount)

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Possibly related PRs

• DefiLlama/DefiLlama-Adapters#19909: Uses similar Pharos receipt-token supply logic and Bitcoin pricing for another BTC-backed adapter.

🚥 Pre-merge checks | ✅ 5

✅ Passed checks (5 passed)

Check name	Status	Explanation
Docstring Coverage	✅ Passed	No functions found in the changed files to evaluate docstring coverage. Skipping docstring coverage check.
Linked Issues check	✅ Passed	Check skipped because no linked issues were found for this pull request.
Out of Scope Changes check	✅ Passed	Check skipped because no linked issues were found for this pull request.
Title check	✅ Passed	The title clearly summarizes the new Naro BTCvp Pharos adapter and matches the main change.
Description check	✅ Passed	The PR description largely follows the new-listing template and includes the key metadata, methodology, chain, token, and audit details.

✨ Finishing Touches

🧪 Generate unit tests (beta)

• Create PR with unit tests

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[github-actions]

The adapter at projects/naro exports TVL:

pharos                    26.27 M

total                    26.27 M 

[RohanNero]

Is there a way we can similarly verify the BTCvp backing or the portion of custodian held BTC owned by naro?

[vincentcaptain]

We’d love to follow the same verification standard. Could you share how existing CeDeFi products typically prove their backing? That would help us coordinate with our custodian and provide whatever is needed.

[Define101]

We need to track the underlying collateral.

For example we price this https://defillama.com/protocol/bitfi-btc , because the underlying asset is tracked by us here https://defillama.com/protocol/ailayer-farm