A standard AMM can be capital inefficient because your liquidity is essentially spread out from 0 to “infinity” – It has the advantage of not requiring any maintenance, but you may earn less fees per swap.

A CLMM – Concentrated Liquidity Market Maker – allows the Liquidity Provider to concentrate their liquidity within a specific price range. You are focusing your liquidity where the trading action in, thus earning more fees per swap

The disadvantage is if the token price moves beyond your defined price range, you stop earning fees

Many other DeFi products have a CLMM such as Uniswap v3, TraderJoe, Raydium, Orca, PancakeSwap and many more.