docs: sync Polymarket docs update 2026-05-22
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> ## Documentation Index
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> Fetch the complete documentation index at: https://docs.polymarket.com/llms.txt
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> Use this file to discover all available pages before exploring further.
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# Polymarket USD
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> pUSD — the collateral token used for all trading on Polymarket
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**pUSD** (Polymarket USD) is the collateral token used for all trading on Polymarket. It's a standard ERC-20 token on Polygon, backed by USDC. The smart contract — which enables the withdrawal functionality — enforces the backing. No algorithmic peg, no fractional reserve.
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<Note>
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**Day to day, nothing changes.** You load funds, see a balance, trade, and
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withdraw. pUSD is the technical settlement layer underneath the same
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experience you're used to.
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</Note>
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***
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## Why pUSD
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The protocol settles all trading activity in native USDC, providing a more capital efficient, scalable, and institutionally aligned settlement standard as the platform continues to grow.
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pUSD is a standard ERC-20 wrapper that represents a USDC claim. Wrapping and unwrapping are enforced onchain by the `CollateralOnramp` and `CollateralOfframp` contracts.
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***
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## Key facts
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| | |
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| -------------- | ----------------------- |
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| Token standard | ERC-20 |
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| Network | Polygon mainnet |
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| Decimals | 6 |
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| Backing | USDC (enforced onchain) |
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| Transferable | Yes — standard ERC-20 |
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pUSD is designed to function within Polymarket. There are no current plans to list it on external exchanges.
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See the [Contracts](/resources/contracts) page for all collateral-related contract addresses.
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***
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## Wrapping — USDC.e → pUSD
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Use the **CollateralOnramp** to wrap USDC.e into pUSD.
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```solidity theme={null}
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function wrap(address _asset, address _to, uint256 _amount) external
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```
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**Parameters**
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* `_asset` — address of the asset being wrapped. Must be USDC.e.
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* `_to` — recipient of the minted pUSD. Does not have to be `msg.sender`.
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* `_amount` — amount to wrap, in USDC.e base units (6 decimals).
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**Requirements**
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* The caller must first approve the **CollateralOnramp** contract (not the pUSD token) to spend USDC.e.
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* Reverts with `OnlyUnpaused()` if the admin has paused USDC.e.
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### Example
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<CodeGroup>
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```typescript TypeScript theme={null}
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import {
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createWalletClient,
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createPublicClient,
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http,
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parseAbi,
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parseUnits,
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} from "viem";
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import { polygon } from "viem/chains";
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import { privateKeyToAccount } from "viem/accounts";
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const account = privateKeyToAccount(process.env.PRIVATE_KEY as `0x${string}`);
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const walletClient = createWalletClient({ account, chain: polygon, transport: http() });
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const publicClient = createPublicClient({ chain: polygon, transport: http() });
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const ONRAMP = "0x93070a847efEf7F70739046A929D47a521F5B8ee" as const;
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const USDCE = "0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174" as const; // USDC.e on Polygon
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const amount = parseUnits("100", 6); // 100 USDC.e
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// 1. Approve the Onramp to spend your USDC.e
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const approveHash = await walletClient.writeContract({
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address: USDCE,
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abi: parseAbi(["function approve(address spender, uint256 amount) returns (bool)"]),
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functionName: "approve",
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args: [ONRAMP, amount],
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});
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await publicClient.waitForTransactionReceipt({ hash: approveHash });
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// 2. Wrap USDC.e → pUSD
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const wrapHash = await walletClient.writeContract({
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address: ONRAMP,
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abi: parseAbi(["function wrap(address _asset, address _to, uint256 _amount)"]),
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functionName: "wrap",
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args: [USDCE, account.address, amount],
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});
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await publicClient.waitForTransactionReceipt({ hash: wrapHash });
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```
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```python Python theme={null}
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from web3 import Web3
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ONRAMP = "0x93070a847efEf7F70739046A929D47a521F5B8ee"
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USDCE = "0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174"
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amount = 100 * 10**6 # 100 USDC.e
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# 1. Approve the Onramp to spend your USDC.e
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usdce = w3.eth.contract(address=USDCE, abi=[{
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"name": "approve", "type": "function",
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"inputs": [{"name": "spender", "type": "address"},
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{"name": "amount", "type": "uint256"}],
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"outputs": [{"type": "bool"}],
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}])
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usdce.functions.approve(ONRAMP, amount).transact({"from": address})
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# 2. Wrap USDC.e → pUSD
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onramp = w3.eth.contract(address=ONRAMP, abi=[{
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"name": "wrap", "type": "function",
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"inputs": [{"name": "_asset", "type": "address"},
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{"name": "_to", "type": "address"},
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{"name": "_amount", "type": "uint256"}],
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"outputs": [],
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}])
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onramp.functions.wrap(USDCE, address, amount).transact({"from": address})
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```
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</CodeGroup>
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***
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## Unwrapping — pUSD → USDC.e
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Use the **CollateralOfframp** to unwrap pUSD back into USDC.e.
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```solidity theme={null}
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function unwrap(address _asset, address _to, uint256 _amount) external
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```
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**Parameters**
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* `_asset` — asset you want to receive. Must be USDC.e.
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* `_to` — recipient of the underlying asset.
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* `_amount` — amount of pUSD to unwrap (6 decimals).
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**Requirements**
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* The caller must first approve the **CollateralOfframp** contract to spend their pUSD.
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* Same pause gate as the Onramp.
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***
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## Next steps
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<CardGroup cols={2}>
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<Card title="Contracts" icon="file-contract" href="/resources/contracts">
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All Polymarket contract addresses and audits
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</Card>
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<Card title="Bridge" icon="arrow-right-arrow-left" href="/trading/bridge/deposit">
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Deposit from other chains — auto-wraps to pUSD
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</Card>
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</CardGroup>
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