Ask about NaraUSD · freeProtocol Information
A PayFi credit protocol that finances short-term cross-border payment receivables and uses those assets to back NaraUSD and generate yield for NaraUSD+ holders.
Sub Category: Private Credit
Audits:
Methodology
TVL: TVL is the collateral backing NaraUSD. Collateral is held in three places: the protocol Safe (0xaB05c0DB9D26e96A9dcEDCAFCA23341316F6fe6F), which holds the deployed positions, and the MultiCollateralToken and NaraUSD contracts, which hold deposits that have not been deployed yet. USDT, USDC, sUSDS and Midas Fasanara Global (mGLOBAL) balances are counted at their DefiLlama price. Blackopal LiquidStone II is an off-chain credit position represented by a BoringVault share; it is valued in USDC using getRate on the vault accountant. The MultiCollateralToken itself is excluded because it is a claim on the same collateral. doublecounted is set because mGLOBAL and sUSDS are also counted under the Midas and Sky adapters.View code on GitHubCompetitors
NaraUSD history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Sep 3, 2026 to Oct 26, 2026.
All-time high TVL: $9.78m on Sep 10, 2026. All-time low TVL: $6.81m on Sep 30, 2026.
Daily TVL, Sep 27, 2026 to Oct 26, 2026
| Date | TVL |
|---|---|
| Sep 27, 2026 | $9.3m |
| Sep 28, 2026 | $9.3m |
| Sep 29, 2026 | $9.3m |
| Sep 30, 2026 | $6.81m |
| Oct 1, 2026 | $6.81m |
| Oct 2, 2026 | $6.81m |
| Oct 3, 2026 | $6.81m |
| Oct 4, 2026 | $6.81m |
| Oct 5, 2026 | $6.81m |
| Oct 6, 2026 | $6.81m |
| Oct 7, 2026 | $6.81m |
| Oct 8, 2026 | $6.81m |
| Oct 9, 2026 | $6.81m |
| Oct 10, 2026 | $6.81m |
| Oct 11, 2026 | $6.81m |
| Oct 12, 2026 | $6.81m |
| Oct 13, 2026 | $6.81m |
| Oct 14, 2026 | $6.81m |
| Oct 15, 2026 | $6.82m |
| Oct 16, 2026 | $6.82m |
| Oct 17, 2026 | $6.82m |
| Oct 18, 2026 | $6.82m |
| Oct 19, 2026 | $6.82m |
| Oct 20, 2026 | $6.82m |
| Oct 21, 2026 | $6.82m |
| Oct 22, 2026 | $6.82m |
| Oct 23, 2026 | $6.82m |
| Oct 24, 2026 | $6.82m |
| Oct 25, 2026 | $6.82m |
| Oct 26, 2026 | $6.82m |
TVL at each month end, Sep 2026 to Oct 2026
| Date | TVL |
|---|---|
| Sep 30, 2026 | $6.81m |
| Oct 26, 2026 (latest) | $6.82m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/narausd
Frequently asked questions
What is NaraUSD's TVL?
As of Oct 26, 2026, NaraUSD has $6.83m in total value locked. TVL has decreased 26.6% over the past 30 days.
What chains does NaraUSD operate on?
NaraUSD operates on Ethereum. Ethereum holds the largest share at 100%.
How does NaraUSD's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, NaraUSD ranks #34 by TVL. The category holds $4.138b across 176 protocols, and NaraUSD accounts for 0.2% of that total. Similar protocols include Ethena USDtb, Re, Huma, Anemoy Capital, OpenTrade, Plume Vaults, Theo Network thUSD, Frax USD, Ember, and Usual USD0.