Polymarket Rebuilds Its Core Smart Contracts With Protocol V2, Targets Nov. 2 Switchover
By Unchained
AI summary of the source article
Polymarket is replacing its legacy smart contracts by introducing Polymarket Protocol V2, targeting a transition for new markets on November 2 following a canary testing phase ending October 30. Previously reliant on Gnosis's 2019 Conditional Tokens Framework with stacked contracts for distinct market types, V2 consolidates the setup into a single ERC-1155 contract, pUSD collateral, one exchange, and one router. The new system supports four initial market modules, multi-chain bridging capabilities, and an OracleAggregator compatible with UMA and Chainlink. Audited by multiple firms including Certora and Quantstamp, the protocol carries a bug bounty of up to $5 million.
Why it matters
The architectural overhaul eliminates layered contract workarounds, streamlining operations for integrators and positioning Polymarket to bridge positions and collateral across multiple blockchain networks.
Key facts
- Polymarket Protocol V2 consolidates operations into a single ERC-1155 contract, unified pUSD collateral, one router, and one exchange.
- Canary markets run through October 30, with new markets tentatively scheduled to switch to V2 on November 2.
- The code was audited by firms including Cantina, Certora, Quantstamp, Sigma Prime, Zellic, and Pashov Audit Group, backed by a bug bounty of up to $5 million.