Polymarket unveiled Protocol V2, a unified, modular and audited core architecture that will power every new market starting November 2. The rollout began on October 5 with limited canary markets running through October 30; existing markets built on the Gnosis Conditional Tokens Framework will remain intact so open positions are not forcibly migrated. Under V2 every outcome share lives in a single ERC-1155 positions token contract and pUSD becomes the sole accepted collateral. Polymarket introduced pUSD earlier as a token backed 1:1 by Circle’s USDC.
The new protocol pairs market-specific exchanges with a fronting router to route orders, and adds an OracleAggregator that makes oracles pluggable, supporting providers such as UMA and Chainlink. V2 also introduces upgradeable contracts to enable feature changes through a secure governance process. Developers get Data API v2, running on an in-house on-chain indexer with standardized data formats and cursor-based pagination to simplify building tooling and analytics.
Polymarket’s rollout notes multiple security audits — including formal verification by Certora and audits by Cantina, Quantstamp and Zellic among others — and a bug bounty offering up to $5 million for critical vulnerabilities. The design contemplates transferring positions, collateral and outcome data between chains, but Polymarket has not announced timelines or which networks it will support. Rajath Alex, head of protocol, has led the upgrade.