Polymarket Launches V2 Upgrade with ERC-1155 and pUSD Integration
The decentralized prediction market platform has upgraded its protocol with new technical and financial features.
- Polymarket introduces Protocol V2 with a single ERC-1155 positions contract.
- The upgrade replaces the legacy Gnosis-based system with pUSD as collateral.
- Polymarket's TVL stands at $336.82M, showing a 1.2% weekly decline.
Polymarket has officially launched its Protocol V2, introducing significant technical and financial changes to the decentralized prediction market platform. The upgrade replaces the legacy 
Gnosis-based system with a new architecture centered around a single ERC-1155 positions contract. This upgrade aims to improve the platform's efficiency and scalability by consolidating its position management into a more streamlined framework.
In addition to the new ERC-1155 contract, the upgrade incorporates pUSD as the primary collateral type. This change is designed to enhance the platform's financial infrastructure and provide users with more flexibility in managing their positions. The transition from the Gnosis-based system to the new setup represents a major overhaul of Polymarket's underlying technology.
According to on-chain data from DeFiLlama, Polymarket's Total Value Locked (TVL) currently stands at $336.82 million, marking a 1.2% decrease over the past seven days. This figure reflects the platform's position in the broader decentralized finance landscape, where it remains a significant player despite the recent dip.
The broader crypto market is currently experiencing a period of growth, with the total market cap at $3.01 trillion and 
Bitcoin up 1.22% in the last 24 hours. The Fear & Greed Index stands at 73, indicating a 'Greed' sentiment among investors. Gnosis (GNO), the platform previously used by Polymarket, is trading at $120.75, with a slight 0.25% decline in the past 24 hours.
The launch of Protocol V2 is a strategic move by Polymarket to enhance its platform's functionality and user experience. By adopting the ERC-1155 standard and pUSD collateral, the platform aims to offer a more robust and flexible environment for its users, potentially attracting more participants to its decentralized prediction markets.
At today's peer-to-peer rate, 1 GNO ≈ ₦165,159.79 (about $120.92), down 0.1% over 24 hours. The naira itself trades about 2.6% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 6, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Gnosis — questions
How much is 1 Gnosis worth in naira today?
About ₦165,159.79 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $120.92. The naira price moves with both GNO's US-dollar price and the USDT/NGN rate; use our Gnosis in naira page for any amount.
Has Gnosis's price moved since this brief was published?
GNO is up 0.14% since this brief first published — trading at $120.92 now versus $120.75 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from The Block. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.