Polymarket, widely regarded as the largest fully on-chain prediction market, has announced a comprehensive platform upgrade set to take place in the next two to three weeks. This overhaul will include new smart contracts, a redesigned order book, and the launch of the company’s proprietary stablecoin, Polymarket USD, aimed at enhancing user experience and improving operational efficiency.
Upgraded Trading Infrastructure with CTF Exchange V2
The core of this update is the upcoming Polymarket CTF Exchange V2. The new smart contracts are designed to facilitate faster, more efficient, and cost-effective trading on the blockchain. By optimizing the order matching system, users will benefit from quicker trade execution and lower fees. Additionally, the data structure for defined orders on the platform will be simplified, streamlining user interactions.
Transition to New Data Standards and User Impact
With the release of version V2, the Central Limit Order Book (CLOB) functionality will undergo a complete overhaul. This will combine improvements from the off-chain order book model with on-chain solutions, expanding the platform's technical capabilities. Development teams utilizing the Polymarket software development kit will need to update their integrations to accommodate the revised data structure. For most end users, the upgrade will involve only a brief maintenance period.
Launch of Native Stablecoin Polymarket USD and Enhanced Wallet Support
According to the company’s statement, the vast majority of users will automatically transition to Polymarket USD, with only more active traders needing to perform a few minor technical steps. This initiative is expected to provide a more secure environment for value transfers and token trading on the platform.
Another technical enhancement includes enabling EIP-1271 support, allowing multi-signature and smart contract-based wallets to interact seamlessly with Polymarket. This upgrade aims to simplify the integration of wallet solutions (such as Safe) with the prediction market platform.
The company further clarified that the existing order book will be cleared during the upgrade process, and the platform will undergo short-term maintenance. Users will receive notifications about a week in advance to prepare for these operational pauses.
While the company previously shared updates regarding its native POLY token, the latest announcement did not include any information about POLY.
Founded in 2020 and backed by the Intercontinental Exchange, Polymarket is reportedly preparing for a new round of financing, with a valuation potentially nearing $20 billion, reflecting growing interest and confidence in the prediction market space.