Rotating deformations of AdS_3\times S^3, the orbifold CFT and strings   in the pp-wave limit
  We construct an exact metric which at short distances is the metric of massless particles in 5+1 spacetime (moving along a diameter of the sphere) and is AdS_3\times S^3 at infinity. We also consider a set of a conical defect spacetimes which are locally AdS_3\times S^3 and have the masses and charges of a special set of chiral primaries of the dual orbifold CFT. We find that excitation energies for a scalar field in the latter geometries agree exactly with the excitations in the corresponding CFT state created by twist operators: redshift in the geometry reproduces `long circle' physics in the CFT. We propose a map of string states in AdS_3\times S^3\times T^4 to states in the orbifold CFT, analogous to the recently discovered map for AdS_5\times S^5. The vibrations of the string can be pictured as oscillations of a Fermi sea in the CFT. 
Oleg Lunin, Samir D. Mathur