Polymarket said it has hired former Zora CEO Jacob Horne for a broad product role centered on the company’s DeFi business. CEO Shayne Coplan said the performance of Polymarket’s onchain products has slipped as the company has grown, and noted that some long-time users believe the firm has shifted its attention toward its U.S. business. Coplan said Polymarket is working to unify its products, though he did not share a launch date or mention any changes related to fees, liquidity, or routing. The company said it plans to hold a DeFi community meeting soon to gather feedback and share a roadmap, and users can send input directly to Horne or Coplan before then. Earlier comments from Polymarket DeFi engineering VP Josh Stevens, made on Aug. 31, described the existing central limit order book as heavily burdened by technical debt. Stevens said the team had scaled the system by 10x and improved speed by 3x, but the architecture still had flaws. He added that the matching engine is being rewritten from scratch in Rust, with completion targeted for the middle to later part of the fourth quarter. Early benchmarks showed p99 latency running 10x to 20x faster than the current system, with throughput reaching 200,000 orders per second, about 15x current capacity.
According to ChainCatcher, Polymarket has hired former Zora CEO Jacob Horne to take charge of product work, with a focus on its DeFi business.
Polymarket CEO Shayne Coplan said the performance of the company’s onchain products has already slipped as the company expanded. He also acknowledged that some long-time users believe Polymarket has shifted its attention toward its U.S. business.
Coplan said the company is trying to unify its products, but did not provide a timeline for launch. He also did not mention any changes involving fees, liquidity, or routing. Before a roadmap is released, Polymarket plans to hold a DeFi community meeting soon to collect feedback. Users can also send comments directly to Horne or Coplan.
The appointment gives Horne a broad product mandate rather than a specific engineering role.
An earlier assessment came from Polymarket DeFi Vice President of Engineering Josh Stevens on Aug. 31. He said the current central limit order book, or CLOB, is 「full of technical debt」. Stevens said the team had expanded capacity by 10x and improved speed by 3x, but the underlying architecture still had flaws, meaning one fix could trigger another issue.
Stevens said the current codebase was 「not salvageable in the long run」. He said the matching engine is being rewritten from scratch in Rust, with a target for completion in the middle to later part of the fourth quarter. Early benchmark tests showed the new system delivering p99 latency 10x to 20x faster than the current one, while handling 200,000 orders per second, roughly 15x current capacity.
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