Polymarket launched Protocol V2, reconstructing the underlying architecture of the existing protocol
Polymarket has launched the next-generation prediction market smart contract system, Polymarket Protocol V2, which reconstructs the underlying architecture of the existing protocol. The current protocol is based on the Gnosis Conditional Tokens Framework from 2019, requiring additional adapters, trading contracts, and authorization processes for each new market type; V2 unifies this by using a single ERC1155 position token contract, pUSD collateral assets, trading platform contracts, and routers.V2 adopts a modular architecture, initially supporting binary, atomic negative risk, incremental negative risk, and composite markets, and connects to UMA, Chainlink, and other future oracles through a new OracleAggregator. The protocol natively supports cross-chain positions, collateral assets, and settlement results, reserving a foundation for future multi-chain deployments; all contracts can be upgraded under a secure governance process.V2 has been audited by Cantina, Certora, Quantstamp, SigmaPrime, Zellic, and Pashov, with formal verification completed by Certora, offering a maximum bounty of $5 million for critical vulnerabilities. Polymarket will operate a limited number of grayscale markets in the production environment from October 5 to 30, with plans to switch new markets to V2 starting November 2, along with the launch of Data API V2 built on Rust and an internal on-chain indexer.
