Yield markets in DeFi have been getting more competitive, and Pendle is making waves as one of the deepest liquidity pools around. The protocol lets fintech platforms and neobanks package fixed yield products at scale—something that's harder than it looks. Over on Plasma, a neobank-focused chain, Pendle's already sitting as the #2 protocol by TVL with over $1B locked in. That's a pretty quick climb, and it shows how hungry the market is for yield infrastructure that actually scales. As more traditional finance players dip their toes into DeFi, having solid yield plumbing becomes the real differentiator.