Polymarket is upgrading its exchange stack, replacing USDC▼$0.9997.e with a new USDC-backed collateral token.
Polymarket, one of the largest prediction markets, is rolling out what it calls its “Biggest Change to Date,” a full exchange refresh that swaps in new contracts, a new order book and a new collateral token.
The key change, according to the platform’s X post on Monday, April 6, is Polymarket USD, which will replace USDC.e as the collateral used for trading on the platform.
Polymarket’s current setup relies on bridged USDC.e on the Polygon blockchain, while its market contracts power the yes-or-no bets and its order book matches buy and sell orders. The switch replaces that with a more native token, which should make fees and integrations easier to manage.
What’s Changing on Polymarket
The upgrade also brings CTF Exchange V2 and CLOB v2, a market contract and orderbook. Polymarket says the new version improves order matching, supports more wallet signature types and makes fee distribution more efficient.
In other words, it means to bots and API traders will need to update their SDKs and re-sign orders to get access to new features. As for regular traders, they will likely need to wrap their USDC or USDC.e into Polymarket USD, the announcement reads.
The update is expected to roll out over the next two to three weeks, though no exact date was given. Polymarket said:
“During the upgrade, all existing order books will be cleared. There will be a short maintenance window. We’ll announce the exact date and time at least one week in advance.”
The announcement doesn’t give any hint on the POLY token, which Blockratize Inc., Polymarket’s parent company, filed U.S. trademark applications for in early February of this year to cover crypto services.
Earlier in April, Polymarket added support for Pyth-backed markets, bringing access to stocks, commodities, and indexes, giving retail traders a new way to bet on price moves.
