Switchboard Announces Cessation of Operations

The multi-chain oracle project Switchboard has announced its cessation of operations on the X platform. The core developer, Switchboard Technology Labs, will gradually wind down remaining operations, with all Switchboard implementations ceasing maintenance immediately and remaining support ending on September 25. Protocols using its oracle are required to migrate immediately to alternatives such as Pyth and RedStone. Switchboard stated that AI has reduced the cost of building self-hosted oracles, the crypto bear market has led to a decrease in the number of new public chains and project budgets, and direct collaboration models with data providers like Hyperliquid and S&P indicate that protocols may increasingly source data directly, thereby diminishing the value of third-party oracle networks.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.