On September 19, a data source that had been used for more than five years was shut off, and users were told to be moved out by September 25.
Switchboard announced that it would immediately cease all operations. Its core team, Switchboard Technology Labs, is packing up and shutting down, and all implementations will be phased out. It started doing unlicensed price feeding around the years 2021, providing unlicensed price data to protocols across multiple chains—one chain at a time, with its most famous deployment on Solana—later expanding to Aptos, Sui, IOTA, and Movement.
What shut it down wasn’t a single attack, but two slow developments. On one side, AI has driven down the cost of running your own oracle infrastructure—protocols that used to have to buy third-party services can now build their own; on the other, it’s a bear market, with fewer projects willing to keep paying subscription fees long-term. With both pressures coming at once, there was no buffer in between.
A free, permissionless business—no one on either end is paying the bill. Protocols want reliable, uninterrupted price data; they won’t pay for anyone’s sentiment. Once this setup can be copied by others, the service will be left with only a name. For a time, it was one of the default options in that ecosystem.
The protocols have less than a week to respond. Switching data sources isn’t like switching a button—price conventions, update frequencies, and the price-feeding nodes all have to be rechecked. Among the migration alternatives are Pyth and RedStone. Normally, nobody does this kind of work; on the day something goes wrong, you can only rush it, and on-chain contracts won’t wait for anyone.
Once the switch is turned off, you find out who has been powering whom all along.
#预言机 #DeFi
Switchboard announced that it would immediately cease all operations. Its core team, Switchboard Technology Labs, is packing up and shutting down, and all implementations will be phased out. It started doing unlicensed price feeding around the years 2021, providing unlicensed price data to protocols across multiple chains—one chain at a time, with its most famous deployment on Solana—later expanding to Aptos, Sui, IOTA, and Movement.
What shut it down wasn’t a single attack, but two slow developments. On one side, AI has driven down the cost of running your own oracle infrastructure—protocols that used to have to buy third-party services can now build their own; on the other, it’s a bear market, with fewer projects willing to keep paying subscription fees long-term. With both pressures coming at once, there was no buffer in between.
A free, permissionless business—no one on either end is paying the bill. Protocols want reliable, uninterrupted price data; they won’t pay for anyone’s sentiment. Once this setup can be copied by others, the service will be left with only a name. For a time, it was one of the default options in that ecosystem.
The protocols have less than a week to respond. Switching data sources isn’t like switching a button—price conventions, update frequencies, and the price-feeding nodes all have to be rechecked. Among the migration alternatives are Pyth and RedStone. Normally, nobody does this kind of work; on the day something goes wrong, you can only rush it, and on-chain contracts won’t wait for anyone.
Once the switch is turned off, you find out who has been powering whom all along.
#预言机 #DeFi
