- Polymarket will deploy its V2 improve on April 22, requiring a full migration as V1 shuts down completely after a short downtime of about one hour.
- The overhaul introduces a new collateral token, pUSD, backed 1:1 by $USDC, alongside redesigned sensible contracts and buying and selling infrastructure.
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A $5 million bug bounty and a number of audits help the rollout, reinforcing confidence because the platform scales amid rising prediction market exercise.
Polymarket’s V2 overhaul goes reside subsequent week, marking a structural shift in how the decentralized prediction market operates. The replace impacts its buying and selling engine, collateral system, and developer integrations, reflecting the platform’s push to deal with greater volumes whereas enhancing effectivity and transparency.
Polymarket’s V2 Overhaul Redefines Buying and selling Infrastructure
The core change is the introduction of Polymarket USD (pUSD), a brand new collateral token that replaces $USDC.e on Polygon. The asset maintains a 1:1 backing with $USDC, verified onchain, aligning with broader trade developments towards standardized and clear collateral methods.
The improve additionally replaces the present buying and selling engine with new CTF Change V2 contracts. These take away legacy parts comparable to nonce and feeRateBps, simplifying order construction. Charges are actually calculated at execution, fairly than embedded in orders, which reduces complexity for merchants and market makers.
All open restrict orders are cleared in the course of the transition window, scheduled round 11 a.m. UTC on April 22. Regardless of this reset, person funds and positions stay intact. Frontend customers expertise a principally automated migration, whereas API members should replace integrations, together with adjustments to contract addresses and signing codecs.
Safety Measures And Developer Transition Necessities
Polymarket helps the rollout with audited, open-source contracts reviewed by Cantina and Quantstamp. A $5 million bug bounty program is lively, concentrating on important vulnerabilities and signaling a powerful emphasis on safety as utilization grows.
Builders face a stricter transition. API customers should improve SDKs and adapt to a new EIP-712 area model. Whereas a hot-swap mechanism refreshes many shopper connections routinely, handbook integrations require direct changes to stay practical after the improve.
Testing entry is already obtainable by way of a staging atmosphere, permitting merchants and builders to work together with V2 earlier than it turns into the default system.
Polymarket has seen speedy progress, with transaction counts exceeding 192 million in March. This growth displays rising demand for onchain prediction markets, particularly as crypto-native platforms compete with conventional betting and forecasting methods.
The V2 rollout positions Polymarket to scale extra effectively whereas sustaining a clear and verifiable infrastructure. If the transition proceeds easily, it might strengthen the case for decentralized prediction markets as a viable different to centralized platforms.
