Yes, you can have several versions of your optional extension that are compatible with the specified ranges of versions of Firefox. This ability has been around for many years.
In the manifest.json file, you can specify strict_min_version:
"applications": {
"gecko": {
"id": "addon@example.com",
"strict_min_version": "42.0",
"strict_max_version": "50.*",
"update_url": "https://example.com/updates.json"
}
}
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