I. BackgroundDecentralized Finance (DeFi) has undergone multiple evolutionary stages.DeFi V2 brought composability, lending protocols, and AMM-based trading into the mainstream.DeFi V3 focused on solving efficiency issues and empowering liquidity providers (LPs) with greater control.This article compares V2 and V3, highlighting their design principles, features, and limitations.II. DeFi V2: Composability and Growth1. Core InnovationsIntroduction of AMMs (Automated Market Makers) like Uniswap ...

I. BackgroundDecentralized Finance (DeFi) has undergone multiple evolutionary stages.DeFi V2 brought composability, lending protocols, and AMM-based trading into the mainstream.DeFi V3 focused on solving efficiency issues and empowering liquidity providers (LPs) with greater control.This article compares V2 and V3, highlighting their design principles, features, and limitations.II. DeFi V2: Composability and Growth1. Core InnovationsIntroduction of AMMs (Automated Market Makers) like Uniswap ...