Polymarket Unveils Collateral Token to Replace Bridged USDC

Polymarket on Monday unveiled Polymarket USD, a proprietary collateral token backed 1:1 by USDC that will replace bridged USDC.e as the settlement asset across the on-chain prediction market.

The new token is the centerpiece of what Polymarket called its most significant infrastructure change to date — a full exchange upgrade spanning new smart contracts, a rebuilt central limit order book, and updated developer SDKs, all rolling out over the next two to three weeks.

For most users, the frontend will handle wrapping automatically with a one-time approval prompt, Polymarket said. Power users and API traders will need to wrap their USDC or USDC.e into the new token via a Collateral Onramp contract.

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