Polymarket tests V2 upgrade with unified contract and pUSD collateral
DeFi & Yields ·
Polymarket is piloting a rebuilt protocol architecture ahead of a planned November 2 mainnet launch.
Polymarket has begun testing Protocol V2, a rebuilt smart-contract system that consolidates market positions into a single ERC-1155 contract and introduces pUSD as collateral, according to The Block. The upgrade also brings new oracle infrastructure and supports four distinct market types, the report said.
The shift to a single ERC-1155 contract replaces Polymarket's prior approach of deploying separate contracts for individual markets, consolidating position tracking into one unified structure. Pairing that architecture with pUSD as the collateral asset is intended to simplify how positions are issued, held, and settled across the platform.
The overhaul extends beyond the positions contract. Coverage of the rollout describes multi-oracle support and cross-chain bridging as part of the V2 design, according to wublockchain.xyz, suggesting the upgrade touches both how markets are resolved and how assets move onto the platform from other chains.
Polymarket is running the new system through what has been described as a canary testing phase in October before a targeted mainnet deployment on November 2, per reporting tracked at leviathan.news. A canary rollout implies the new contracts are being exposed to a limited set of markets or users first, allowing issues to surface before the broader platform migrates.
Additional detail on the protocol changes has also circulated via a post on X, consistent with the four-market-type structure and oracle changes described elsewhere in the cluster.
What remains unclear from current reporting is the specific scope of the October canary test, including which markets or user segments are included, how pUSD will interact with existing collateral balances during the transition, and whether the November 2 mainnet date is fixed or still contingent on the outcome of testing. Further detail on the four market types and the mechanics of the new oracle infrastructure has not yet been specified in available coverage.