- Polymarket is V2 upgrade on April 22ndis required. complete migration as V1 will shut down permanently After a short downtime of about 1 hour.
- Due to overhaul, New collateral token, pUSDcorroborated by 1:1 $USDCalongside a redesigned smart contract and trading infrastructure.
- a $5 million bug bounty Multiple audits support deployment, increasing confidence as the platform expands amid increased prediction market activity.
Polymarket’s V2 overhaul will be published next weeka structural shift is occurring in the way decentralized prediction markets operate. The update will affect: Integration of trading engines, collateral systems and developersReflecting the platform Drive higher volume processing while increasing efficiency and transparency.
Polymarket’s V2 overhaul redefines trading infrastructure
The main changes are: Polymarket US Dollar (pUSD)A new collateral token to replace $USDC.e on the polygon. assets are 1:1 backing $USDCverified on-chain, in line with broader industry trends towards standardized and transparent collateral systems.
This upgrade also replaces your existing trading engine with: New CTF Exchange V2 Agreement. These remove legacy components such as: nonce and feeRateBpssimplifying the order structure. The price is currently calculated at runtimeIt is not embedded in the order, reducing complexity for traders and market makers.
all Open limit order is cleared During the transition period, the planned April 22, 11:00 a.m. (Universal Time Coordinated). Despite this reset, User funds and positions remain intact. Front-end users experience a mostly automated migration; API participants must update their integrationsuch as changing the address or signature format on the contract.
Security measures and developer migration requirements
Polymarket supports deployment. Audited open source agreements Reviewed by Cantina and Quantstamp. a $5 million bug bounty program is active, targeting critical vulnerabilities, and demonstrating a focus on security as usage increases.
Developers are facing a tougher transition. API users must upgrade their SDK and adapt to it New EIP-712 domain version. Although the hot-swap mechanism automatically updates many client connections, Manual integration requires direct adjustment To maintain functionality after upgrading.
Access to the test is already staging environmentThis will allow traders and builders to interact with V2 before it becomes the default system.
Polymarket is experiencing rapid growth; The number of transactions in March exceeded 192 million. This expansion reflects increased demand. On-chain prediction marketespecially when crypto-native platforms compete with traditional betting and prediction systems.
The rollout of V2 positions Polymarket to: Scale more efficiently while maintaining Transparent and verifiable infrastructure. If the transition goes smoothly, that argument could be strengthened. decentralized prediction market As a viable alternative to centralized platforms.
