What to know:
- Polymarket has launched a rebuilt trading engine and and a new Polymarket USD token to replace USDC.e.
- All existing order books will be cleared during a short maintenance window, and developers must update to the new CLOB-Client SDK.
Polymarket has rolled out a full upgrade to its exchange platform. The platform will introduce a new trading engine, that would be upgraded as smart contracts, and a new collateral token called Polymarket USD. This upgrade will replace the platform’s current USDC.e system and improve users performance.
Source: Polymarket (X)
The exchange rebuild is one of the biggest infrastructure change since Polymarket launched officially. With this new update in place, users can expect faster trade execution, lower gas fees, and a more cleaner foundation for future updates.
During a short maintenance window, all open orders will be canceled, and users will be notified well in advance.
PolyMarket New Trading Engine
The new exchange would make use of CTF Exchange V2 contract and would bring a number of improvements for traders and developers. The update would simplify and optimize the order structure, making matching orders faster and more efficient for users.
The new platform supports 1271 signatures, including builder codes for on-chain order attribution, and it also improves fee collection and distribution. The platform is also migrating from USDC.e to Polymarket USD, a token that is backed up by USDC. For most users, the change will be seamless. The company’s frontend automatically handles the process with a one-time approval.
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Power users and API-only traders will need to manually wrap their USDC or USDC.e using the Collateral Onramp contract’s wrap() function. This ensures all accounts are ready to trade on the new system.
The company is releasing a new CLOB-Client SDK to handle the migration from V1 to V2 automatically. Builders must update to the latest version of their client to ensure their bots and integrations work correctly. The SDK is available in TypeScript, Python, and Go. Developers will also need to re-sign their orders using the new order structure.
The Migration and Maintenance System
During the upgrade, all the existing order books will be cleared. The platform will also schedule a short maintenance window and announce the exact date at least one week in advance to users. A migration guide and full API changelog will be released soon. SDK upgrade documentation with code examples will also be shared ahead of launch.
Also Read: Polymarket Updates 3 Insider Trading Rules Across Platforms
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