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Polymarket’s newly introduced collateral token, pUSD, has been launched.
pUSD is a Polygon ERC-20 Token backed 1:1 by USDC.
After connecting to Polymarket, users will be required to migrate their USDC.e balances to pUSD.
The migration is currently ongoing; 234 million pUSD have already been issued, with more than 210,000 holding addresses.
Once most users have completed the migration, the total amount of pUSD plus the amount held should be considered as Polymarket users’ total assets on deposit.