Polymarket Unveils Exchange Overhaul, Native Stablecoin as U.S. Expansion Looms
Polymarket is overhauling its trading system and introducing a native stablecoin, Polymarket USD, to streamline operations and support U.S. expansion.Summary
Prediction market platform Polymarket is undergoing a significant infrastructure upgrade, including a rebuilt trading system and the introduction of a native stablecoin, Polymarket USD. This new stablecoin, backed 1:1 by USDC, will replace the current bridged USDC.e to reduce risks and inefficiencies associated with cross-chain infrastructure, aiming for tighter settlement control and improved liquidity. The overhaul features a redesigned matching engine and order book architecture for faster execution and lower overhead, with support for advanced features like EIP-1271 signatures. While most users will experience an automatic conversion, advanced traders may need manual updates. This upgrade coincides with Polymarket's rapid growth, surpassing $10 billion in monthly volume, and its strategic push back into the U.S. market after registering with the CFTC. The company also hints at a future native governance token, potentially named POLY, to further internalize functions like market validation and dispute resolution, evolving into a fully-fledged exchange platform.
(Source：Bitcoin Magazine)