Overview
- Polymarket began production canary testing of Protocol V2 on Tuesday, Oct. 5, with limited live markets running through Oct. 30 and a tentative plan for all newly created markets to use V2 starting Nov. 2.
- Protocol V2 replaces the 2019-era Gnosis Conditional Tokens Framework with a single ERC-1155 PositionManager that holds outcome shares and uses pUSD as the common collateral for new markets.
- The new OracleAggregator lets markets plug in different reporter modules, including UMA’s Optimistic Oracle and Chainlink Data Streams, so each market can choose a resolution source and dispute flow that fits its needs.
- Polymarket published multiple security reviews for V2 components, launched a bug bounty offering up to $5 million for critical flaws, and requires developers to migrate from Data API V1 to Data API V2 before the API’s Oct. 24 retirement.
- Existing CTF markets and open positions remain on the legacy system so users are not force-migrated mid-trade, but builders must add V2 contract approvals, adapt to the new position model, and watch for cross-chain activation using the published Polygon and CCIP scaffolding.