Cite as: doi:10.26081/K6360V

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I discuss string theory on AdS3xS3xT4 in the tensionless limit, with one unit of
NS-NS flux. This theory is conjectured to be dual to the symmetric product
orbifold CFT. I show how to compute the full string partition function on
various locally AdS3 backgrounds, such as thermal AdS3, the BTZ black and
conical defects, and find that it is independent of the actual background, but
only depends on the boundary geometry. Consequently, reproducing the boundary
partition function does not require a sum over bulk geometries, but rather
agrees with the string partition function on any bulk geometry with the
appropriate boundary. I argue that the same mechanism could ensure factorization
of the bulk partition function when geometries with disconnected boundaries are
considered.
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