I've proceeded as usual upon reading the word "yields", which is putting the article to the test of answering the simple question "Where does the yield come from, motherfucker?", and here's the result:

"Pendle's approach is to divide investments into a decentralized finance

(DeFi) protocol, such as Compound or Aave, into two: the principle put

up by the investor and the yield expected to be earned on that position

in the form of token rewards. The split into a principal token (PT) and a

yield token (YT) that can traded on the open market creates the high

yields possible on Pendle’s pools."

In plain English, it's a scam.

Also, I would never in a lifetime trust or take seriously anyone who writes "principle" to refer to the "principal".