Even for long-tail token pairs, UNI v3 full range is still better than UNI v2 because rebalancing range positions helps all v3 LPs win more traffic in the swap router. Actually we don't need UNI v2 anymore if we do not consider the migration of existing LPs.
1/ When Uniswap v3 returns more fees for passive (non-rebalancing) LPs โ๏ธ
New research from @GordonLiao & @aadams shows that fee-returns on Uniswap v3 positions that do not require rebalancing outperform comparable v2 positions by an average of ~54%.