Polymarket Launches Protocol V2 for Enhanced Prediction Markets
- Polymarket began rolling out its new Protocol V2 on Monday, aimed at improving its smart contract infrastructure.
- The upgrade introduces Polymarket USD (pUSD) as the sole collateral token, backed by USDC at a ratio of 1:1.
- Testing will occur on a limited number of live markets until October 30, with a full switch to V2 planned for November 2.
- Protocol V2 features upgradeable smart contracts and OracleAggregator for enhanced market outcome determination.
- The system has been audited by blockchain security firms and offers bug bounty rewards up to $5 million for critical vulnerabilities.
This overhaul allows Polymarket to support various market types within a single exchange while enhancing security and functionality through upgradeable contracts. The introduction of pUSD aims to streamline transactions across different blockchains in the future.
With the rollout of Protocol V2, Polymarket is set to enhance user experience and expand its capabilities significantly by November, leveraging pUSD as its primary collateral token. (Source)
