yield tokenization

Pendle Finance pioneered yield tokenization, splitting yield-bearing assets into principal and yield tokens.Pendle Finance 开创了收益代币化，将产生收益的资产拆分为本金代币和收益代币。

Yield tokenization allows investors to buy fixed-rate exposure or speculate on future yield movements.收益代币化允许投资者购买固定利率敞口或投机未来的收益走势。