Aarna Protocol

aarnâ’s âtv vaults are tokenized portfolios whose agents select, rotate and rebalance assets and DeFi venues under treasury policy after a user deposits. Products include fixed-yield Pendle strategies, dynamic stablecoin aggregation, structured trading and higher-beta crypto portfolios across Ethereum, Arbitrum, Base and Sonic. Onchain policy and audits make decisions observable but do not give the client an immutable approved venue list or per-protocol caps. The version-1 delegated-allocation dossier therefore rejects the aggregate claim; current survey TVL of about $0.50M is secondary.

Review triggers: events that reopen the verdict
• The exact proposed âtv vault immutably enforces a client-specific allowlist and per-venue limits covering only approved protocols
• Vault-level positions, debt, realized losses, policy changes and executable withdrawal liquidity are continuously available and independently reconciled

Watched nightly: a warning on its venues or files, or a cited document that changes, reopens the memo. The first confirmation is due 2026-11-15.

The research file

Agentic vault applicability

aarnâ describes an Agentic Onchain Treasury in which yield-curation and execution agents analyze markets, allocate capital and rotate positions under policy. Each âtv receipt is a NAV claim on a managed structured portfolio rather than a fixed wrapper around one immutable asset. Ethereum products span Pendle PT, stablecoin money markets and asymmetric growth, while other chains add strategy-specific vaults. Ongoing algorithmic venue selection satisfies the delegated-allocation dossier.

Current perimeter and measured identity

The current adapter enumerates âtv vault and storage contracts on Ethereum, Arbitrum, Base and Sonic and counts their underlying holdings. The DefiLlama API read on 2026-08-16 reported approximately $0.50M, almost all on Ethereum with small Sonic, Arbitrum and Base balances. This record covers the aggregate âtv protocol, not a claim that every vault uses the same collateral, leverage, liquidity or risk policy.

Controls, audits and loss look-through

Smart contracts enforce allocation bands, diversification constraints and vault accounting, while governance can update agent parameters and treasury policy. aarnâ documents CertiK and Failsafe reviews and publishes product contracts, but an audited allocator still inherits every active money market, Pendle position, LP, oracle, bridge and execution loss. Base vaults are described as controlled and allowlisted, further preventing the aggregate record from establishing uniform client access.

Exit and comparison

Vault receipts represent managed portfolios, so executable proceeds depend on the underlying positions and their ability to unwind rather than only a displayed share value. Direct positions in approved venues preserve advisor look-through, caps and venue-specific review triggers. Reopen only with an immutable client-specific allowlist and limits plus continuous vault-level holdings, debt, loss and withdrawal evidence for the exact proposed âtv product.

Class rule

The delegated allocation class is outside the approved structures, so every protocol in it is not approved until the rule changes. The rule is about the structure, not an adverse finding about this protocol, and it is not a client instruction. The events that would reopen it are listed with the memo.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

• aarnâ — Agentic Onchain Treasury overview · primary · accessed 2026-08-16
  Supports: agent governance, allocation, rotation, treasury policy, tokenized vaults
• aarnâ — Ethereum vault strategies · primary · accessed 2026-08-16
  Supports: âtvPTmax, âtvUSDC, âtv 808, Pendle, money markets, structured portfolios
• aarnâ — Base vaults and access state · primary · accessed 2026-08-16
  Supports: Base, âtv111, âtv101, allowlist, Failsafe audit, underlying venues
• aarnâ — tokenization infrastructure and chain contracts · primary · accessed 2026-08-16
  Supports: tokenized vaults, Ethereum, Arbitrum, Base, Sonic, audited contracts
• DefiLlama adapter — aarnâ vault perimeter · secondary · accessed 2026-08-16
  Supports: vault addresses, storage contracts, Ethereum, Arbitrum, Base, Sonic
• DefiLlama — aarnâ survey record · secondary · accessed 2026-08-16
  Supports: current TVL, chain distribution, Yield category

Inherited controls

The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.