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Polymarket Launches $1 Million Liquidity Rewards for CLOBv2 Migration

Polymarket states its CLOBv2 upgrade introduced new exchange contracts and pUSD collateral, while a $1 million rewards program aims to deepen order books and attract professional market makers.

Fact Check
The claim is strongly supported by the official source, Polymarket Exchange Upgrade: April 28, 2026, which explicitly confirms the exchange upgrade included new smart contracts, a rewritten order book, and a new collateral token, and that trading would pause for about one hour. The liquidity-rewards portion is corroborated by multiple independent reports citing Polymarket’s official announcement: Polymarket：升级版交易平台已上线并开启 100 万美元流动性奖励, Polymarket已完成现货订单簿CLOB v2升级，交易功能已陆续恢复, and Polymarket 明日发放 100 万美元流动性奖励并启用返佣机制. While the $1 million rewards detail is not visible in the fetched help article itself, it is consistently reported across multiple articles that reference Polymarket’s official posts. Taken together, the evidence supports the full claim.
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Summary

Polymarket said its CLOBv2 exchange upgrade went live on April 28 at around 11:00 UTC after a brief maintenance period, with trading later resuming. The upgrade included new exchange contracts, a rewritten order book, and pUSD as the new collateral token, while the V1 order book was cleared and all unfilled limit orders were canceled during the migration. According to the platform, user funds and existing positions remained safe, and API traders were required to update to the latest SDK before trading resumed. Polymarket also launched a previously announced $1 million liquidity incentive program, with $500,000 set to be distributed in the first two hours after trading resumed and the remaining $500,000 later the same day, as it seeks deeper books and more professional market-making activity.

Terms & Concepts
  • CLOBv2: An upgraded central limit order book system used to match buy and sell orders on the platform.
  • pUSD: The collateral token introduced in Polymarket’s upgrade to support trading on the updated exchange system.
  • Liquidity rewards: Incentives paid to traders or market makers to place orders and improve market depth and execution quality.