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Uniswap v3 introduced:
* **concentrated liquidity**: replacing fungible ERC20 liquidity positions with non-fungible ERC-721 liquidity positions.
* **concentrated liquidity** and **non-fungible liquidity**:
* replacing fungible ERC20 liquidity positions with non-fungible ERC-721 liquidity positions.
* individual LPs get granular control over what price ranges their capital is allocated to.
* individual positions are aggregated together into a single pool, forming one combined curve for users to trade against.
* **multiple fee tiers**: allowing LPs to be appropriately compensated for taking on varying degrees of risk.
* **range orders**: lps can deposit a single token in a custom price range, above or below the current price.
* **improvements to the TWAP oracle**: possible to calculate any recent TWAP within ~9 days in a single on-call chain.
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