Switchboard Shuts Down: Oracle Network Ceases Operations Amid Industry Pressures
Switchboard, one of the most widely used permissionless oracle networks in decentralized finance, has ceased all operations effective immediately. The team behind the project, Switchboard Technology Labs Inc., is winding down entirely and deprecating all implementations.
The shutdown was announced on September 19, with users given until September 25 to migrate to alternative oracle providers. Switchboard had been a fixture in the oracle space since roughly 2021, providing permissionless data feeds across multiple blockchains, including Solana, Aptos, Sui, IOTA, and Movement.
The team pointed to several converging pressures that made continuing operations untenable, including the reduced cost of building proprietary oracles with AI tools, a persistent bear market squeezing budgets across the industry, and growing direct partnerships between protocols and data providers eating into demand for intermediary oracle networks.