Prominent on-chain prediction market platform Polymarket is deploying a major upgrade to its technical foundations, including implementing a new order book and its own stablecoin for use as collateral on the platform.
The firm is calling the upgrade its “biggest change to date.”
We've heard your feedback, and we're excited to announce Polymarket is getting a full exchange upgrade.
Over the next few weeks, we're rolling out a rebuilt trading engine, upgraded smart contracts, and a new collateral token (Polymarket USD) to move off USDC.e. 🧵
“Our biggest infrastructure change since launch… faster execution, lower gas, and a cleaner foundation going forward,” it said.
While the firm doesn’t expect a difficult transition for most prediction market users, builders, API-only traders, and power users may be more affected by the changes. For example, users running bots to trade on the markets will need to update their software development kits to enable trading with the new order book structure.
Additionally, more advanced users may need to use a smart contract wrap function to move their USDC or USDC.e into the firm’s new stablecoin and collateral token—Polymarket USD.
