Instruction:

1. Deposit Collateral: Deposit ETH into Aave.
2. Borrow USDC: Borrow USDC against the collateral.
3. Fixed Rate: Use Pendle Finance to lock in a fixed interest rate on the  ETH.

Risks:

1. Complexity: Combining Aave and Pendle increases operational complexity.
2. Smart Contract Risk: Pendle Finance is relatively new; thorough audits are necessary.
3. Liquidation Risk: Managing collateral to avoid liquidation is critical.