I. BackgroundWhile DeFi V2 introduced AMMs, lending protocols, and liquidity mining, it still faced low capital efficiency, uniform fee models, and high gas costs. DeFi V3, led by innovations such as Uniswap V3, focused on solving these problems by making liquidity more efficient, flexible, and customizable.II. Core Features of DeFi V31. Concentrated LiquidityLiquidity providers (LPs) can allocate funds within specific price ranges, instead of across the entire curve.This dramatically improve...