Polymarket Unveils Protocol V2 Ahead of Planned November 2 Mainnet Switchover
Polymarket is preparing to replace the architecture underpinning its prediction markets with Protocol V2, a redesigned system intended to remove legacy complexity and consolidate core trading infrastructure ahead of a planned full mainnet switchover on November 2.
According to Wu Blockchain, Polymarket Head of Protocol Rajath Alex announced the new protocol, which replaces the platform's legacy 2019 Gnosis CTF foundation. The redesign is intended to eliminate architectural bloat while bringing the platform's market infrastructure under a more unified framework.
Polymarket Moves to a Unified Architecture
Protocol V2 centers on a single ERC-1155 position contract, pUSD collateral and a consolidated exchange and router designed to operate across all market types. Rather than maintaining separate architectural components for different forms of prediction markets, the new system uses a modular structure intended to support multiple market configurations within the same framework.
The protocol natively supports binary, neg-risk and combinatorial markets. This gives Polymarket a common technical foundation for different market structures while reducing reliance on the architecture inherited from its 2019 Gnosis CTF-based system.
Protocol V2 also incorporates a multi-oracle aggregator supporting both UMA and Chainlink. The architecture additionally includes cross-chain bridging, extending the protocol's infrastructure beyond a single-chain configuration.
Testing Ahead of November Mainnet Rollout
Polymarket plans to test canary markets between October 5 and October 30 before the planned November 2 rollout. The staged testing period is intended to precede the full mainnet switchover and gives the new architecture a defined period for live market testing before the transition.
The new protocol has undergone formal verification by Certora and has also been heavily audited. Polymarket is backing the system with a $5 million bug bounty, providing an additional security incentive for researchers to identify vulnerabilities before and during the transition.
New Data API Also Planned
The November 2 rollout is expected to coincide with the introduction of a new Rust-based Data API V2. The API upgrade will accompany the protocol transition as Polymarket moves its core infrastructure to the redesigned architecture.
Protocol V2 therefore represents a broad infrastructure change rather than a single feature update, combining a unified ERC-1155 position contract, pUSD collateral, a consolidated exchange and router, multi-oracle support, cross-chain bridging and support for binary, neg-risk and combinatorial markets. The planned canary-market testing is scheduled to continue through October 30 ahead of the targeted November 2 mainnet switchover.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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