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first_img Polymarket released Protocol V2, planning to switch to a new market in November

The prediction market platform Polymarket has announced the launch of Polymarket Protocol V2, calling it the next-generation prediction market smart contract system. The existing contracts are based on the conditional token framework from Gnosis in 2019, with various markets subsequently integrated through additional adapters. V2 rebuilds position tokens from scratch, using a single ERC1155 position contract, a single collateral pUSD, a single exchange, and a single routing, with position IDs directly encoding market type, market, and outcome.V2 supports binary, atomic negative risk, incremental negative risk, and composite markets with a modular architecture, and expands position operations to enhance capital efficiency. Settlement is accessed through OracleAggregator, integrating pluggable oracles, including UMA, Chainlink, and future sources. The protocol features built-in cross-chain bridging designs for positions, collateral, and settlement, and can be upgraded through governance processes. Future research directions include scalar settlement and directional collateral return.The code has been audited by Cantina, Certora, Quantstamp, SigmaPrime, Zellic, and Pashov, and has undergone formal verification by Certora, with a maximum critical vulnerability bounty of $5 million. The canary market will operate in the production environment from today until October 30, with new markets tentatively scheduled to switch on November 2. At the same time, Data API V2 will be launched, based on a self-developed on-chain indexer, supporting V2, unified response formats, and cursor pagination.

first_img Before the merger of XRP Financial Company and Evernorth, Armada SPAC's stock price rose approximately 273% in a week

According to CoinDesk, Armada Acquisition Corp. II (XRPN) closed at $39.42 last Friday, up 68% on the day, and has risen approximately 273% over the week, reaching a high of $53 during intraday trading, compared to $10.58 a week ago, with a further pre-market increase of 9.5% on Monday. The company is the SPAC driving the listing of XRP treasury company Evernorth, which stated that the merger is expected to be completed on October 7 (Wednesday), pending the fulfillment of remaining conditions.Evernorth is expected to hold approximately 473 million XRP at the time of closing, valued at about $714 million based on Monday's price of approximately $1.51. Its disclosed financing includes about $300 million in total cash proceeds, of which $225 million comes from a private placement, $30 million from convertible notes, and $48 million from Armada's trust funds, with supporters also directly investing in XRP. However, the company purchased 84.4 million XRP for $214.1 million by the end of 2025, at an average price of approximately $2.54, which is now worth about $127 million.Armada Trust held $241.2 million at the end of June, with each public share redemption valued at approximately $10.49. Evernorth's announcement on October 1 indicated that about $48 million of the trust funds would be reserved for trading, suggesting that approximately 80% of the trust funds would be returned to shareholders. Redemptions will reduce the number of publicly tradable shares, allowing relatively small orders to significantly drive up the stock price.
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