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Polymarket Plans Protocol Upgrade and Launch of pUSD Collateral Token

According to Polymarket official documentation, the platform will introduce pUSD, an ERC-20 token standard (common Ethereum-based token format) on Polygon, backed fully by USDC, as part of a broader protocol upgrade.

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Summary

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Terms & Concepts
  • ERC-20: A widely used token standard on Ethereum-compatible blockchains that defines how fungible tokens are created and transferred.
  • Polygon: A blockchain network designed to offer lower-cost and faster transactions for Ethereum-compatible applications.
  • Collateral token: A token used to secure or support trading activity, typically by representing assets that back positions or orders.