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Oracle Switchboard Announces Shutdown
PANews, September 19 — Oracle Switchboard has announced it is ceasing operations. Its core development contributor, Switchboard Technology Labs, will gradually wind down its remaining business. All Switchboard implementations will stop being maintained effective immediately, and remaining support will be terminated on September 25. Protocols using its oracle are being asked to migrate immediately to alternatives such as Pyth and RedStone.
Switchboard stated that AI has lowered the cost of building one's own oracle, and the crypto bear market has led to a decline in the number of new public chains and project budgets. At the same time, the model of Hyperliquid working directly with data providers such as S&P shows that protocols may increasingly obtain data directly, thereby weakening the value of third-party oracle networks.
Source: PANews