During the review, I found that the tracked polymarket smart money addresses have suddenly become less smart in the last 2 weeks.
It turns out that after the V2 version, new wallet addresses appeared.
Polymarket officially migrated to CLOB V2 around `2026-04-28 11:00 UTC`. There are indeed new things after V2: new Exchange contract, new pUSD, new signature types, and a deposit wallet.
But this does not mean that all old users are forced to change wallets.
Old proxy wallet/safe wallet can generally still be used. The real complexity lies in the deposit wallet in the new API process.
If a user starts using the deposit wallet, the fields you see when placing an order may change:
`maker` may be the deposit wallet.
`signer` may be the deposit wallet.
`funder` may also be the deposit wallet.
And the address you originally tracked may just be the old proxy wallet or `proxyWallet` in the Data API.
This is troublesome.
I looked at the M2/M3 collection scripts in the project, and they mainly pull `proxyWallet` from the official interface. But these interfaces do not directly return:
`depositWallet`
`walletType`
`signatureType`
`maker`
`signer`
`funder`
So relying solely on these two interfaces, it is difficult to determine whether an address has transitioned to the deposit wallet process.
This is crucial for tracking smart money.
You might think you're tracking "this person".
But what is actually being tracked in the code may just be a display address.
The addresses that actually conducted transactions after V2 might be in the order fields or on-chain fund flows.
So now I will categorize the addresses in several layers:
Who is the display address.
Who are the order maker/signer/funder.
Is there a deposit wallet.
Did funds flow from the old address to the new address.
Is this new address continuing to trade in V2 CLOB.
In short:
After V2, don’t just ask “Has the smart money changed addresses?”.
First ask: “What type of wallet does this field I am tracking actually represent?”
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