Extracellular signal that regulates meristem maintenance. Acts with CLV1 as a ligand-receptor pair in a signal transduction pathway coordinating growth between adjacent meristematic regions and controlling the balance between meristem cell proliferation and differentiation. The secreted peptide MCLV3 activates a signal transduction cascade to restrict WUSCHEL (WUS) expression, inducing shoot and root meristem consumption as cells differentiated into other organs. Interacts with the extracellular leucine-rich repeat region of CLV1 (PubMed:18202283, PubMed:19525968). Interacts with CLV2 (PubMed:20626648). CLV3-derived CLE peptides interacts with a tetrameric complex made of two CLV2/CRN heterodimers (PubMed:20697738). First detected in heart stage embryos in a patch of cells between the developing cotyledons. In vegetative and inflorescence meristems, expressed in a small cone of cells at the meristem apex. The MCLV3 peptide contains two hydroxyprolines, but hydroxylation had no direct effect on MCLV3 activity. The O-glycosylation (arabinosylation) of the hydroxyproline P-76 enhances binding affinity of the MCLV3 peptide for its receptor. MCLV3 with hydroxyPro-73 and hydroxyPro-76. His-81 seems to be essential for the activity of MCLV3. May be due to intron retention. May be due to introns retention. Belongs to the CLV3/ESR signal peptide family.