According to the Polymarket official X account’s announcement on April 28 at 12:06 UTC, Polymarket has completed the CLOB v2 exchange upgrade. On that day, maintenance started at 11:02 UTC, trading was paused, and the order book was cleared. After about 64 minutes, it resumed accepting orders, and the website was subsequently reopened to users.
Upgrade timeline: 64-minute pause, followed by gradual restoration of the API and website
At the start of maintenance, Polymarket stated, “Funds and positions are safe,” and promised to release a $1 million liquidity incentive in parallel once trading resumed. About 1 hour later (12:06 UTC), the official confirmed that CLOB v2 was live, the API began accepting orders, and the public website “will be reopened shortly.”
The liquidity incentive release schedule is as follows: $500k will be distributed within the first 2 hours, and the remaining $500k will be distributed during the rest of the day. For market makers, this means the first few hours after the order book is rebuilt from zero are the period with the highest marginal returns.
Upgrade details: main deliverables of the plan announced on April 6
This upgrade is the main delivery of Polymarket’s April 6 announcement of the “full exchange overhaul” plan. At the time, Polymarket said it would roll out three changes “within the coming weeks”: a rebuilt trading engine, upgraded smart contracts, and switching the collateral assets from USDC.e to its own issued Polymarket USD (pUSD).
On April 27, abmedia reported the official launch information for Polymarket USD (pUSD). This CLOB v2 upgrade on 4/28 completes the parts involving the trading engine and contract layer. The next observation points are when pUSD will become the default collateral token on the platform, and the depth of market-maker retention after the incentive release ends.
This article, Polymarket Upgrade Completed: New Trading Engine Goes Live, $1M Liquidity Incentive First Appears on ChainNews ABMedia.
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