Polymarket, an on-chain prediction market platform, announced a major upgrade to its trading system over the next 2-3 weeks. This upgrade includes a redesigned trading engine, a new order book structure, and the introduction of the native stablecoin, Polymarket USD. The core of this upgrade is the launch of Polymarket CTF Exchange V2, which will optimize matching efficiency, reduce order verification and matching operations, and lower gas costs. The new order data structure will also streamline the number of fields, improving overall execution efficiency. V2 will also introduce an upgraded Central Limit Order Book (CLOB), combining off-chain order books with on-chain execution mechanisms. At the asset level, Polymarket will launch Polymarket USD, backed 1:1 by USDC, gradually replacing the currently used cross-chain asset USDC.e. This adjustment aims to reduce users' security concerns regarding unofficial bridging assets. Furthermore, the platform will support the EIP-1271 standard, allowing smart contract wallets (such as multisignature wallets) to directly participate in trading. During the upgrade, the existing order book will be cleared, and the platform will briefly enter a maintenance window. Polymarket stated that this is its largest upgrade since launch, coming at a time of increasing user growth and intensified competition from platforms such as Kalshi, Coinbase, and Crypto.com. (The Block)