Polymarket, a leader in on-chain prediction markets, is preparing to launch a significant platform upgrade in the coming weeks. This extensive update will introduce new smart contracts, a redesigned order book, and the company’s proprietary stablecoin, Polymarket USD, aimed at enhancing overall user experience and operational capabilities.
Upcoming Changes with CTF Exchange V2
The core of this update is the upcoming CTF Exchange V2, which promises to provide users with a faster and more cost-effective trading experience. Enhanced smart contracts will fundamentally change the order matching process, ensuring quicker trade execution while reducing fees. Additionally, a restructured data sorting system will significantly simplify user interactions.
How Will These Upgrades Impact the User Base?
As part of the V2 release, the Central Limit Order Book (CLOB) functionality will see substantial enhancements. This improvement will integrate offline model strategies into the on-chain framework, strengthening the platform's technical infrastructure. While most users will only experience a brief maintenance interruption, developers will need to adjust their software integrations to accommodate the new data architecture.
The Polymarket team stated that this reform is the most significant since its inception, driven by increasing competition and rapid user base expansion. New entrants in the industry, such as Coinbase and Crypto.com, have further intensified the competition.
Launch of Polymarket USD and Wallet Improvements
The improvements also include support for EIP-1271, which will facilitate smoother interactions with multi-signature and smart contract wallets (such as Safe), providing more seamless integration options.
Customers will receive approximately one week’s notice before the platform enters a short maintenance period to prepare for the transition. During this time, all existing order books will be reset as part of the planned improvements.
Although the company previously shared updates regarding its native POLY token, the latest disclosure did not include any information about POLY.
Founded in 2020 and backed by the Intercontinental Exchange, Polymarket is preparing for a new round of investment that could value the platform at around $20 billion, reflecting strong growth and interest in the sector.