Tomorrow, April 28th, Polymarket will be down for one hour. Starting at 11 AM UTC, they'll be swapping trading tokens from USDC.e to their own pUSD. I took a look at Polymarket's update logs. USDC.e is the version of USDC bridged to Polygon by Circle, which means every transaction carries bridge risk. On the other hand, pUSD is Polymarket's own ERC-20 token, backed 1:1 by USDC, with the backing relationship written into a smart contract and enforced on-chain. For regular users, there’s basically no difference. Your funds are still in USDC, your balance will show pUSD, and withdrawals will automatically convert back—no change in user experience. During the one-hour downtime, all open orders will be cleared, but funds and positions are safe. Just log back in and reauthorize once. To sum it up: Polymarket is taking back control of the settlement layer from Circle and putting it in their own hands. After all, as a company valued at $15 billion and gearing up for IPO, they definitely wouldn’t want to leave such a critical piece in someone else’s hands.