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PancakeSwap V3 brings Uniswap V3-style concentrated liquidity to BNB Chain and the broader set of networks PancakeSwap deploys to. LPs choose price ranges within which their capital is active, dramatically improving capital efficiency for the same dollar of liquidity.
V3 sits alongside V2 in the PancakeSwap stack — V3 for active liquidity management, V2 for set-and-forget long-tail pools. CAKE governs the entire stack.