LP Position NFT
A non-fungible token representing a Uniswap v3 liquidity position, its price range, fee tier, and fees; the asset that gets locked in LP locks.
An LP Position NFT is a non-fungible token that represents a liquidity provider's position in a Uniswap v3 style pool, encoding its price range, fee tier, and the fees it has accumulated.
Earlier automated market makers such as Uniswap v2 issued fungible ERC-20 LP tokens, because every provider held an identical claim on a full-range pool. Concentrated liquidity broke that symmetry: each v3 position can sit in its own price range, so no two positions are interchangeable. Uniswap addressed this by having its position manager contract mint a unique NFT for each position, with the token ID pointing to the position's parameters onchain.
Whoever holds the NFT controls the position. The holder can collect the trading fees it earns, add or remove liquidity, or close the position entirely and withdraw both assets. Transferring the NFT transfers all of those rights, which makes this one token the key to the capital sitting in the pool.
That property is exactly why LP Position NFTs matter for launch safety. When a project locks its liquidity, the thing being locked is usually this NFT: it is deposited into a time-lock contract or sent to an unrecoverable address, so the deployer can no longer withdraw the pool out from under holders. A launchpad that advertises liquidity locking follows this pattern, locking the LP position for years at the moment a token launches. Keep in mind that a lock addresses one specific failure mode, liquidity withdrawal, rather than every risk a new token carries.