Polymarket unveils plans for trading engine overhaul, native stablecoin
Polymarket is overhauling its platform with a new trading engine and introducing a native stablecoin, Polymarket USD.Summary
Polymarket, a leading onchain prediction market, is set to undergo a significant platform upgrade over the next 2-3 weeks. This overhaul includes a rebuilt trading engine, new smart contracts, an updated order book, and the introduction of a native stablecoin, Polymarket USD. The new version, Polymarket CTF Exchange V2, will feature a faster and more efficient matching engine, leading to lower gas consumption and simplified order structures. This marks the platform's most substantial change since its launch, driven by increasing competition from rivals like Kalshi and broader market offerings from platforms such as Coinbase, Crypto.com, and DraftKings. The upgrade also enhances support for smart contract wallets through EIP-1271, facilitating direct interaction with platforms like Safe. The new Polymarket USD stablecoin will be backed 1:1 by USDC, replacing the bridged USDC.e to address user concerns about its non-native status on Polygon. While most users will experience a seamless transition, some power users may need to manually wrap their existing stablecoins. The announcement did not mention the previously explored POLY token.
(Source：The Block)