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Polymarket starts V2 canary with unified positions and pUSD

Polymarket has started production canary markets for V2, unifying positions in one ERC-1155 contract and using pUSD collateral before a planned November switch.

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Polymarket starts V2 canary with unified positions and pUSD

Polymarket began running production canary markets for Protocol V2 on Oct. 5, testing a rebuilt contract system that will replace its Conditional Tokens Framework for new markets. The Block reported the rollout after protocol lead Rajath Alex announced it.

What changes in Polymarket’s V2 contracts?

The upgrade consolidates positions into one ERC-1155 contract and uses pUSD as collateral, alongside one exchange for each market type and a router, Alex said. The Block reported that the redesign aims to reduce contract layers added as Polymarket introduced new market types.

Polymarket’s help center describes pUSD as an ERC-20 token on Polygon backed 1:1 by USDC, with the backing enforced onchain. Its April exchange upgrade moved collateral from USDC.e to pUSD; the V2 announcement describes a separate rebuild of the market contracts.

Which market types will V2 support?

The initial version covers four types: Binary, Atomic Neg-risk, Incremental Neg-risk and Combinatorial. V2 also introduces an OracleAggregator that can connect to UMA, Chainlink and other data sources to resolve markets, according to The Block’s account of Alex’s announcement.

The architecture includes provisions to move positions, collateral and resolutions across chains. Polymarket says it will activate those features if it expands beyond its current network, The Block reported.

When could V2 become the default for new markets?

The canary markets are scheduled to run through Oct. 30. A switch for newly created markets is tentatively planned for Nov. 2, Alex said. Existing markets were not included in that planned change.

Polymarket is also rolling out Data API V2, a Rust service built around its in-house onchain indexer. The Block reported that the V2 code has been audited by Cantina, Certora, Quantstamp, SigmaPrime, Zellic and Pashov, and that Certora formally verified it.

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