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- Polymarket launches CLOB v2 with faster matching, new contracts, and improved backend performance
- New pUSD token on Polygon backed 1:1 by USDC standardizes collateral across trading
- $1M liquidity program allocates $500K early and $500K later to boost market depth
Polymarket has rolled out its upgraded Central Limit Order Book CLOB v2 exchange, restoring trading after a brief halt. The update introduces a redesigned system with new contracts, faster matching, and a $1 million liquidity program to support early activity.
The platform confirmed the rollout in a post on X. APIs began accepting orders immediately, while the public interface was set to reopen shortly after. The announcement also outlined the structure of the liquidity rewards.
The upgrade followed a one-hour maintenance window. During this period, trading was paused and all order books were cleared. The relaunch shifts the platform to a new technical framework.
Polymarket Updates Core Trading System
Moreover, Polymarket introduced a new collateral token called pUSD. It operates as an ERC-20 asset on Polygon and is backed 1:1 by USDC. The backing is enforced on-chain within the system.
Users logging in are required to convert balances into pUSD. They must also approve the updated exchange contracts. This process is completed once for most retail users.
However, CLOB v2 removes several legacy order fields. Parameters such as “nonce” and “feeRateBps” are no longer included. This change simplifies how orders are structured on the platform.
There are no more trading fees that are attached to each order. Rather, charges are set by the operator when executing. This restructuring alters the way cost parameters are managed.
Polymarket has requested developers and professional traders to upgrade their systems. The compatibility with the upgraded exchange needs new SDKs. The support of older versions is no longer provided.
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The platform first outlined the upgrade on April 6. This announcement is fulfilled through rollout. It is a shift to a new backend and revised exchange contracts.
$1M Liquidity Rewards Structure
Additionally, Polymarket launched a $1 million liquidity rewards program alongside the update. The structure will spend $500,000 on the first two hours of trading. The remaining $500,000 is distributed over the rest of the day.
The incentive is aimed at market makers and active participants. It seeks to develop early depth in the new order book. The design is preoccupied with engaging immediately upon reopening.
However, the platform is hoping that there will be a smoother transition to ordinary website users. Institutional participants and API users need to go through integration steps. All these measures are needed to work under the new system.
CLOB v2 is developed to be fast and to minimize latency. The reforms underpin increased levels of trading in various event markets. These are political, crypto, sports, and global results.
So far, the update will be a technical change to Polymarket. It integrates a new collateral model and simplified order structures. The platform has an improved backend that is performance- and liquidity-oriented.
Also Read: Polymarket News Listings Pulled by Google After Brief Exposure
