Polymarket Upgrades Platform on April 28, Migrating Collateral from USDC.e to pUSD

Gate News message, April 27 — Polymarket announced it will upgrade its platform on April 28, 2026, at approximately 19:00 UTC, with trading suspended for about one hour during the maintenance window. The upgrade includes a new-generation trading contract (CTF Exchange V2), a reconstructed order book, and an updated collateral token system.

Following the upgrade, the platform will migrate from USDC.e to pUSD (Polymarket USD), an ERC-20 asset on Polygon backed 1:1 by USDC on-chain. The protocol will continue to settle in native USDC to enhance capital efficiency and scalability.

Most users require no manual action; the frontend will automatically complete the migration with a single authorization. All existing order books will be cleared during the upgrade, requiring users to place new orders afterward, though account balances will be automatically inherited. The new architecture optimizes order matching, fee calculation, and lifecycle management while reducing Gas costs and addressing previous transaction failures caused by nonce and balance validation issues.

The new contracts have passed audits by Cantina and Quantstamp, with code and a bug bounty program now publicly available.