Polymarket will upgrade its settlement mechanism and provide a $1 million liquidity reward

Polymarket announced that it will change the settlement mechanism for the cryptocurrency up and down market from a single price snapshot to a time weighted average price (TWAP) starting from 8:00 am on August 7th (UTC+8). The 5-minute market uses 30 second TWAP, while the 15 minute and 4-hour markets use 60 second TWAP. Polymarket will inject $1 million in liquidity incentives into affected markets in August. Chainlink TWAP mainnet data stream and Polymarket real-time data stream services will be launched on August 4th.