Polymarket Introduces Major Platform Upgrade with New Stablecoin
- Polymarket is launching its own stablecoin, Polymarket USD, to replace the existing bridged collateral token.
- The platform will implement a new order book and upgraded smart contracts as part of its largest infrastructure change.
- Users must cancel all open orders during the transition, with advanced notice provided by Polymarket.
- Polymarket’s new stablecoin will be backed at a ratio of 1:1 with Circle’s USDC.
Polymarket is undergoing significant changes to enhance its prediction market platform by introducing Polymarket USD and upgrading technical components like the order book and smart contracts. These updates aim to improve execution speed and reduce gas fees for users.
This upgrade marks a pivotal shift in Polymarket’s operations, potentially increasing user yields and streamlining trading processes on the platform. (Source)
