In short
- Polymarket is upgrading its order book and smart contracts as part of its “biggest change to date.”
- The platform is also unveiling its own stablecoin – Polymarket USD – to replace it, the existing collateral token.
- Polymarket plans to launch its own brand, POLY, although no ETA has been announced.
The well-known on-chain market prediction platform Polymarket is sending a major upgrade to its technical base, including the implementation of a new book system and its stablecoin used as collateral on the platform.
The company is calling the upgrade “the biggest upgrade to date.”
“We’ve heard your feedback, and we’re happy to announce that Polymarket is getting a big upgrade,” Market prediction posted on X. “Over the next few weeks, we’re launching a rebuilt trading engine, upgraded smart contracts, and a new token, Polymarket USD.”
These changes are expected to be implemented in the coming weeks, with the short term requiring the removal of all open source rules from the platform. However, the company says it will provide merchants at least “a few days” advanced notice before canceling unfulfilled orders.
“Our biggest infrastructure change since launch… faster integration, lower gas emissions, and cleaner infrastructure moving forward,” it said.
Although the company does not expect a difficult change for users of the prediction market, developers, API vendors themselves, and power users can be greatly affected by the change. For example, users of bots to trade in markets will need to update their software to be able to trade with the new order system.
In addition, advanced users may need to use a smart wrap method to move their USDC or USDC.e into the company’s stablecoin and collateral token—Polymarket USD.
The company used USDC.e from the past Ethereum network scaling, Polygonwhich represents a consolidated version of Circle’s dollar-backed stablecoin USDC. But the movement of his sign, which will be supported by 1:1 and Round USDCcreated a feeling among users about the good productivity of who has money on the platform and the probability of a very high price about the company.
Meanwhile, some users speculate that the launch of its stablecoin may also promote the release of the platform’s established token, POLY. However, when the token was confirmed to be in usepredictions on Myriad-market predictions from DecryptThe parent company, Dastan-don’t believe it starts in Mayputting the chance of setting the mark before that time is 11%.
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