Introducing Polymarket Protocol V2, a new smart-contract foundation built for prediction markets.
To give developers and market makers time to integrate, we’re running canary markets October 5–30, with new markets tentatively switching on November 2.
With this release, we’re also introducing Data API v2, a new Rust service powered by our in-house on-chain indexer
Start with the migration docs here: https://t.co/zm31Rwhuew
Read more about both in the blog below:
Introducing Polymarket Data, a public source for U.S. & International exchange data.
Polymarket U.S. hit 1b+ total volume (contracts) for the weekend, consecutive daily ATHs:
- Saturday: 510m+
- Sunday: 525m+
We're just getting started.
We know the website has been getting slow - as market creation exploded, the UI was flooding Gamma with API calls (it had no market paging 🤯). We've shipped a new internal gateway API built in Rust and rebuilt the pages from scratch on top of it, now serving combos (8x faster) and sports (4x faster). Next up, we're working on the event, esports, categories, and home pages to make them load instantly, too. The website will keep getting faster every week. You all deserve a website that feels instant.
Left is before (no cache), and right is after (now live)
Thrilled to announce Collin McKinney Hill has joined Polymarket as our new VP of Operations.
He's coming from DoorDash where he was a GM and ran one of their largest business units. DoorDash is known as one of the most operationally excellent businesses, and that's the rigor Collin's bringing to Polymarket. Before that, he was at Bridgewater where he was Ray Dalio's Chief of Staff. He's also 6'7. And handsome. Some guys just have it all.
Onwards.
We have built our Polymarket indexing systems in-house, powered by rindexer in Rust. We now see onchain data events up to 14 blocks (28 seconds) faster, and we index within 0-10ms of block broadcasting, making it nearly instant. This means trades, positions, and balances will update much faster. We will use Goldsky as a data backup, but we now primarily run on our own indexing infrastructure.
Session keys are now in beta on the trading APIs.
A session key can trade on your deposit wallet behalf but can never withdraw - making third-party integrations dramatically better, and unlocking ability to build features that weren’t possible before.
A few builders are testing it now. Opening to every builder soon, with session key support coming to the Polymarket UI later.
Want early access for your users? DM me.
https://t.co/j1ZO1Ul3bC
Credit where credit is due: Polygon has been really great over the last 3 months. Including the World Cup, which allowed us to handle trading loads we've never seen before, seamlessly across both our systems and Polygon's. Can’t remember the last issue caused by the chain. Well done, guys👏👏
@Polymarket is launching combos soon. Take a look at our new docs, and happy quoting!
Docs: https://t.co/llkNxOl003
Quoter Telegram: https://t.co/gNEdiTEvgF
This is my 3rd week as VP of Engineering DeFi at @Polymarket , and I'm going to be straight: the traction @Polymarket has seen has massively outpaced our infrastructure, and we haven't done nearly enough to scale to keep up. I hear you, and fixing this is our entire focus. We're a major company now, and we need to engineer like one. Here's exactly what we're doing:
- Onchain data latency. We're working on making this near-instant so the experience is incredible.
- Chain migration. We need more block space, cheaper gas and much smaller block times so settlement is instant.
- Transactions are getting cancelled. We understand this is one of the most frustrating issues right now, and we have a complete fix coming very soon.
- Massive focus on the website to make it faster, more responsive, and with better UX.
- We added observability everywhere. Proper alerting so we catch issues ourselves, market makers should not be the ones telling us something is down. That's been unacceptable, and we know it.
- E2e tests throughout, starting with the CLOB, so issues get caught in CI before anything ships.
- CLOBv2 is not a rewrite. It won't improve performance or stability on its own; it's an upgrade that unlocks us to move fast right after. We'll do better with communication next time.
- We are rebuilding the CLOB from the ground up. Most important thing we're doing. Without it, we can't be the best DeFi exchange in the world. We know it, we're on it, it's mission critical.
- Unified TypeScript SDK for all APIs, which is shipping soon.
- Unified API. One WS connection for everything, with a schema that's actually readable.
- New Polymarket contract in the works that unlocks things that are simply impossible on the current protocol.
- New hires: Head of QA Automation, Head of Dev Tooling, Head of Internal Tooling, Head of Data Engineering.
- Smaller, dedicated teams. Fewer focus points per person, clearer ownership. People do what they're good at and are accountable for it.
- Working closely with customer support to give them real debugging tools so any user issue gets properly diagnosed, not lost.
- Proper communication with marketing and market makers so everyone knows what's coming and when, and MM can submit feature requests with a clear path to get them into engineering and shipped.
- Working with 4 security teams daily to ensure we're super secure and that funds are always safe.
- Perps incoming. Brand new contracts and a backend built from scratch in Rust. We're proud of this one.
- A lot of other fixes are running in parallel right now.
Starting next Friday, I will be posting weekly engineering updates.
I joined because I genuinely believe in what @Polymarket is trying to do. @shayne_coplan built this so the world has somewhere to go to find out what's actually going to happen, not what the media thinks, not what a pundit says, but what thousands of people are willing to put money on. But right now, our engineering isn't living up to that. We've let people down, and I'm not going to dress that up. I came here to fix it, and that's exactly what we're going to do. The next few months are going to speak for themselves. Stay with us.
Excited to join @Polymarket as VP of Engineering.
I haven’t seen a hungrier team in my career, the talent density here is insane.
We’re building the future of how people understand the world.
What should we build next? What’s broken? What’s missing?
Drop it below.
P.s we are hiring world class people in NYC DMs open
Many think we compete with @artemis.
Reality check: they run on Dune’s onchain data.
Their magic is turning our datasets into powerful metrics.
Proud to empower their team and make onchain data accessible.
@dune is the onchain data backbone.
@artemis makes it sing.
I'm thrilled to share:
Senpi has raised $4M led by @Lemniscap with @cbventures Base Ecosystem Fund @base@Superlayerio@primalcap@Auros_global Mana + top angels
@senpi_ai is the AI Wallet — the first wallet powered by AI intelligence.
🧵learn more about the raise, our vision, our journey, and more