Pendle has settled $69.8 billion in fixed income and achieved over $6 billion in total value locked (TVL), marking its significant impact in the decentralized finance (DeFi) space. The platform is pioneering the integration of the $140 trillion traditional fixed-income market with cryptocurrency by tokenizing yields and offering programmable, permissionless access. Recently, Pendle expanded its fixed-rate capabilities by integrating USDe yield markets through a partnership with Ethena. The protocol's innovative approach involves splitting yield assets into Principal Tokens (PT) and Yield Tokens (YT), facilitating transparent and efficient trading of fixed-income instruments. With stablecoin yields reaching up to 20% and high-risk corporate bonds yielding around 12%, Pendle is drawing interest from both retail and institutional investors.