Polymarket is replacing the engine it has run on since 2019. Here is what changes.
đ§ In plain words
Per The Block, Polymarket's Protocol V2 swaps its old Gnosis-based token framework for a single ERC-1155 positions contract, uses pUSD as collateral and merges its exchange contracts. It also adds an oracle aggregator that can pull from UMA, Chainlink and other sources. Think of a store moving from several separate tills to one central register: same products, cleaner bookkeeping.
â What it means for you
âą Canary markets run through October 30, and new markets tentatively move to V2 on November 2.
âą Six audit firms reviewed the code, and a bug bounty pays up to $5 million.
âą Polymarket is one of the best-known apps on Polygon, the network behind $POL .
Takeaway: the upgrade is plumbing, but plumbing is what fails first at scale.
#Polymarket #PredictionMarkets
đ§ In plain words
Per The Block, Polymarket's Protocol V2 swaps its old Gnosis-based token framework for a single ERC-1155 positions contract, uses pUSD as collateral and merges its exchange contracts. It also adds an oracle aggregator that can pull from UMA, Chainlink and other sources. Think of a store moving from several separate tills to one central register: same products, cleaner bookkeeping.
â What it means for you
âą Canary markets run through October 30, and new markets tentatively move to V2 on November 2.
âą Six audit firms reviewed the code, and a bug bounty pays up to $5 million.
âą Polymarket is one of the best-known apps on Polygon, the network behind $POL .
Takeaway: the upgrade is plumbing, but plumbing is what fails first at scale.
#Polymarket #PredictionMarkets