Key Takeaways:
Prediction market Polymarket announced a complete overhaul of its trading engine and smart contract stack, with the upgrades expected to roll out over the next two to three weeks.
"This is a complete overhaul of the exchange stack," the company said in an official announcement, detailing plans for new contracts, a new order book, and a new native collateral token. The upgrade follows a period of significant growth for the platform.
The core of the technical upgrade involves a new, fully on-chain order book system designed to improve platform efficiency and user experience. This move, away from the previous automated market maker (AMM) model, is expected to increase throughput and reduce transaction costs for users engaging with event-based contracts.
The introduction of a native stablecoin as the platform's collateral token is the most significant strategic shift. This change aims to enhance capital efficiency and create new dynamics within its ecosystem, potentially increasing its competitiveness against other DeFi platforms like Augur and Gnosis. The move could attract more sophisticated traders and liquidity providers looking for more stable collateral options.
The new native stablecoin is designed to be the primary collateral asset on the platform. By moving away from using external stablecoins like USDC, Polymarket can create a more integrated and capital-efficient system. The company stated the goal is to build a more robust and self-sustaining financial ecosystem around its prediction markets. The success of this upgrade could significantly boost trading volume and solidify Polymarket's position in the growing prediction market sector.
This article is for informational purposes only and does not constitute investment advice.
