what's Troves?

Troves is a BTCFi protocol designed to enable Bitcoin-based yield generation and decentralized finance applications. It operates primarily on layer-2 solutions like Starknet, integrating Bitcoin assets into DeFi ecosystems to provide users with opportunities for earning yields through lending, borrowing, and other financial primitives. The protocol emphasizes security and scalability, leveraging audited smart contracts and partnerships with established networks to facilitate seamless interactions between Bitcoin and Ethereum-compatible chains. Key mechanics include liquidity provision for BTC-denominated pools, where users can deposit assets to earn rewards while contributing to the protocol's total value locked (TVL). Troves aims to bridge traditional Bitcoin holders into yield-bearing activities without compromising the asset's core properties, using wrapped BTC or similar representations. Community-driven governance and ongoing developments focus on expanding yield strategies and interoperability across blockchain ecosystems.

Troves offers one-click DeFi strategies on Starknet, noted in a StarkWare ecosystem overview.