CMC News

Polymarket To Roll Out Exchange Stack, Native Stablecoin

#Polymarket announced plans on Monday to overhaul its entire exchange infrastructure. The company said the upgrade will roll out over the next two to three weeks. It called the overhaul the biggest change the platform has undergone since its 2020 launch.

"We're upgrading the entire Polymarket exchange stack over the next 2-3 weeks," the company posted on X. The update covers the platform's smart contracts, order matching system, and collateral structure. At the center of the upgrade is a new version of its Conditional Token Framework Exchange, referred to as V2.

The updated matching engine requires fewer computational steps to validate and pair orders. It also reduces gas consumption compared to the current system. The order data structure has been simplified by cutting the number of required fields.

V2 will include a revised Central Limit Order Book, or CLOB, that combines off-chain order books with #onchain execution. #Developers building trading bots or custom integrations will need to update their software development kits. They will also need to re-sign orders using the new data structure.

During the transition, all existing order books will be cleared. The platform will undergo a brief maintenance window. Polymarket said it will announce the exact date and time at least one week in advance.

A significant addition for retail users is support for EIP-1271. This is the Ethereum standard that enables #smartcontract wallets to sign orders directly on the platform. It is designed to make multi-signature wallets like Safe easier to use on Polymarket.

Polymarket is also introducing a new native collateral token called Polymarket USD. It will replace USDC.e, a bridged form of #USDC on Polygon. Some users have flagged concerns about USDC.e because it is not the official version of USDC issued by Circle on Polygon. Polymarket USD will be backed 1:1 by USDC.