TLDR Polymarket has started canary testing for its rebuilt Protocol V2 system. The platform tentatively plans to move new markets to V2 on November 2. V2 supports four market types and introd
Polymarket has started canary markets on Protocol V2, a rebuilt smart-contract system for prediction markets. Protocol lead Rajath Alex said Polymarket will continue testing through October 30. The platform tentatively plans to move new markets to V2 on November 2.
Protocol V2 replaces the Conditional Tokens Framework, which dates to 2019. The setup uses one ERC-1155 contract to manage positions. It also uses pUSD as collateral, exchanges for market types, and a router for transactions.
The first version supports Binary, Atomic Neg-risk, Incremental Neg-risk, and Combinatorial markets. Polymarket added an OracleAggregator that can use UMA, Chainlink, and other data sources. CFTC prediction-market rule proposals have kept attention on how event contracts operate in the United States.
The system includes tools for moving positions, collateral, and market results across blockchains. Polymarket has not activated those features yet. The company plans to use them when it expands beyond its current network.
Polymarket is launching Data API V2 with the contract upgrade. The Rust-based service uses the company’s own onchain indexer to organize market data. The change gives developers a new data layer for the V2 rollout.
Polymarket odds on a possible October rate hike showed how traders use the platform for economic events. The new protocol aims to support more market structures while keeping the contract system simpler than the current setup.
Six security firms reviewed the V2 code before migration. Cantina, Certora, Quantstamp, SigmaPrime, Zellic, and Pashov completed audits. Certora also used formal verification to check the code against defined rules.
Polymarket offers a bug bounty of up to $5 million for critical findings. The program rewards security researchers who report serious flaws before wider use.
The upgrade arrives as Polymarket adds senior staff and expands its protocol team. Rajath Alex joined in May. The company later hired Bird founder Travis VanderZanden as chief growth officer.
A trader’s return to Polymarket for a Trump AI wager also drew attention last week. Separately, reports say the company is discussing a $1 billion funding round at a $21 billion post-money valuation.
The canary period gives Polymarket time to test V2 under real market conditions before the planned switch. The November 2 date remains tentative, and the company can adjust the schedule based on testing results.
The post Polymarket Sets November V2 Move, But Testing Comes First appeared first on Blockonomi.
