Starknet has announced the launch of "BTCFi on Starknet," a three-pronged initiative aimed at improving Bitcoin's usability. Specifically, they include:

1. BTC Staking: Users can now stake BTC on Starknet Layer 2 to earn rewards and retain custody of their assets.

2. 100 million STRK incentives: The Starknet Foundation will distribute 100 million STRK tokens to incentivize BTCFi ecosystem activities on Starknet, including BTC-based mortgage lending and other activities.

3. RE7 Capital Income Product: RE7 Capital will launch a BTC-denominated income product for institutions, enabling broader participation through tokenization and making Starknet the execution layer of the Bitcoin network.