Sense is a decentralized protocol that introduces a novel financial primitive for managing and trading yield in DeFi. It allows users to take a yield-bearing asset and separate it into its principal and yield components, creating Principal Tokens (PTs) and Yield Tokens (YTs). This enables users to lock in fixed-rate returns, speculate on future yield rates, or gain leveraged exposure to yields without the risk of liquidation. The protocol's mission is to bring fixed income, a cornerstone of traditional finance, into the decentralized ecosystem in a permissionless and accessible way.