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Polymarket Unveils Exchange Overhaul and USDC-Backed Collateral Token

The upgrade targets exchange-grade speed by moving to a USDC-backed collateral token.

Overview

  • Polymarket announced Monday a 2–3 week rollout of its largest upgrade since launch, including CTF Exchange V2 and a rebuilt central limit order book.
  • The migration introduces Polymarket USD, a token pegged 1:1 to USDC that replaces bridged USDC.e to remove cross-chain bridge risk.
  • The new hybrid design matches orders off chain and settles on chain to lower gas costs, simplify order data, and improve execution.
  • A short maintenance window will clear all order books, and API traders must update SDKs, wrap collateral, and re-sign orders using the new structure.
  • Support for EIP-1271 and multisig wallets will let DAOs and funds trade from smart-contract wallets as U.S. oversight of prediction markets firms up and ICE backs the platform.