> For the complete documentation index, see [llms.txt](https://pangeaswap.gitbook.io/pangeaswap/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pangeaswap.gitbook.io/pangeaswap/en/developers/concept-overview/position-nft.md).

# Position NFT

Assets deposited by liquidity providers in Pangea's pools are managed on a per-position basis.

`ConcentratedLiquidityPoolManager` provides ownership of each position as NFT. Liquidity providers can additionally deposit/withdraw assets to liquidity positions they created, and claim swap fees earned by those positions.

### Position and Position NFT

Pangea's pool identifies positions according to the owner of the position and the price range (Price Lower \~ Price Upper). In `ConcentratedLiquidityPoolManager`, the position of the pool is wrapped with the position NFT in the specification of `ERC721 Enumerable`, which is an extended specification of ERC721. In addition to the basic functions of NFT (owner confirmation / transfer, etc.), the following functions are additionally provided, and when all assets are withdrawn from a position, the position NFT is burned.

* Add liquidity to existing position
* Withdraw liquidity(all/partially) from existing position
* Claim swap fee from existing position

### Characteristics of Position NFTs

1. You can trade them just like normal NFTs.
   * Position NFTs are also designed in compliance with ERC721 standards, so you can trade them on the NFT marketplace.
2. You cannot change the price range of a position you have created.
   * If the price range needs to be adjusted, you will need to withdraw all your assets from the position by burning your position NFT, and deposit your assets in the new price range minting a new position NFT.
3. As the pool price changes, the proportion of assets within the position NFT changes.
   * If the pool price exits the position price range, the assets within the position NFT will converge into either one.


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