Switchboard

Switchboard was an oracle network on Solana. An oracle brings outside data, such as prices, onto a blockchain so apps can use it. With Switchboard, anyone could make a new data feed without asking for approval. It shut down on September 25, 2026.

The team gave apps six days' notice to move to another oracle. Three weeks earlier, an attacker had compromised Switchboard's oracles on four Move-based chains. Switchboard is no longer an option for new projects. The team named Pyth Network PYTH$0.064-3.1% and RedStone Finance as the places to move.

Why did Switchboard shut down?

Switchboard Technology Labs, the company behind the network, announced the closure on September 19, 2026 and said support would end six days later. Crypto Briefing listed the four reasons it gave. AI had made it cheaper for apps to build their own oracles. A long bear market had cut budgets. More apps were buying data straight from data firms. Recent oracle hacks had also hurt trust in oracles as a whole.

The closure post from the Switchboard Foundation retired every Switchboard setup at once. KuCoin's summary of the post adds that other contributors and node operators had already left. The closure covered Solana and every other chain Switchboard served.

If your app used Switchboard, you had less than a week to switch. Some builders said in replies to the post that this was far too little time. Our news story covers which Solana apps had to move.

Switchboard oracle compromise on Aptos, Sui, IOTA and Movement

Around August 29, 2026, Switchboard shut off its oracles on four chains: Aptos, Sui, IOTA and Movement. It feared they had been hacked. It said its Solana setup ran different code and was not hit. Even so, Crypto Briefing said Switchboard told Solana users to look at other oracles while it checked.

The worst damage was on IOTA. CryptoSlate reported that the attacker took the signing keys of every Switchboard oracle on IOTA. They set the IOTA price to $10 million. With one coin put up, they then minted millions of VUSD stablecoins from the Virtue lending app. The fake prices also got 45 Virtue users liquidated.

On Sui, the trading app Full Sail lost about $91,000 from three vaults and said it would close, Crypto Briefing reported. CryptoSlate noted that Switchboard had not published a report on the cause.

How the Switchboard oracle worked: on-demand feeds and TEEs

Switchboard had two big ideas. Its feeds were on-demand: they only updated when an app asked for data, so no one paid to stream prices that nobody read. And anyone could build a feed for any data source, with their own rules, without asking a committee.

The oracle nodes ran inside secure chip areas called Trusted Execution Environments, or TEEs. A TEE is a sealed part of a processor, such as an Intel SGX enclave. The person running the machine can't see or change the work done inside it. The aim was to stop node operators from peeking at or tampering with data.

This made Switchboard the usual pick when you needed data the big price networks did not carry, like a small token's price or the result of a web API. The catch was that each feed was only as good as the sources its builder picked.

Switchboard Surge and the low-latency price feeds

Surge was Switchboard's fast price feed for trading apps. Blockworks reported that it sent prices in under 100 milliseconds. Apps that put their servers next to a Surge node could get them faster still.

Speed came from leaning on hardware. Each Surge node used TEE attestation to prove it was running Switchboard's approved code, per the Blockworks report. That meant you trusted the chip and Switchboard's software more than a vote among many nodes. Surge was free to integrate and aimed at perps venues and oracle-priced AMMs. It closed with the rest of the network.

Switchboard VRF: verifiable randomness on Solana

Switchboard VRF gave Solana apps random numbers that anyone could check were fair. A Solana program can't make its own random numbers, because every validator has to get the same result. So games, raffles and NFT trait drops need an outside source.

QuickNode's developer guide sets out three steps. First, your app commits to a request, and Switchboard writes the previous slot's hash in as the seed. Next, a Switchboard node works out the random value inside a TEE and signs it. Last, your app reveals and uses the value in the same transaction, so no one can peek and back out.

Switchboard VRF stopped with everything else. If your game or raffle still calls it, you need a new randomness provider.

SWTCH token, airdrop and Jito restaking

SWTCH is Switchboard's token. It launched on September 9, 2025, with a free airdrop to early users the same day, SolanaFloor reported. Staked SWTCH, called svSWTCH, was meant for voting, rewards and node incentives.

SolanaFloor said just under half the supply went to the core team and early contributors. Their tokens were locked for six months, then began to vest over two years from March 2026. The SWTCH token page shows how it has traded since the closure. The shutdown reports we found did not say what happens to the token or to staking.

Switchboard also tied its node security to Jito JTO$0.337-1.0% restaking. The Block reported in January 2025 that it was set to be the first oracle on Jito's restaking platform. Node operators backed their work with staked collateral, which SolanaFloor said included SWTCH and JitoSOL.

Who still needs to check for Switchboard on Solana

Switchboard now matters to three groups. Developers with older Solana programs should check whether they still read a Switchboard feed or VRF account. Users with loans or perps positions should check that their app moved to a new oracle. SWTCH holders should know the network behind the token has closed.

If you are picking an oracle for a new Solana project, Switchboard is not a choice. Read this page as history and as a checklist.

CryptoTicker's checklist named Kamino Finance KMNO$0.034-0.1%, Jito, Drift Protocol DRIFT$0.013-1.7% and Marginfi LST$122.99-11.8% as Solana apps hit by the closure. It suggests you write down your collateral, debt and liquidation price, then look for the app's own note about its new oracle.

Is Switchboard safe to use now? Risks after the shutdown

No. Switchboard should not be used for anything new. The team stopped all upkeep in September 2026. A feed that no one updates goes stale, and an app that reads a stale price can get loans and liquidations wrong.

The August compromise showed that one oracle firm can fail on several chains at once. We found no public report from Switchboard on how its oracles were breached.

The Solana programs below have no active team behind them. Before you trust any account that still uses them, check on an explorer who can upgrade each one.

• Switchboard V2: SW1TCH7qEPTdLsDHRgPuMQjbQxKdH2aBStViMFnt64f
• Switchboard Oracle: DtmE9D2CSB4L5D6A15mraeEjrGMm6auWVzgaD8hK2tZM
• Attestation Program: sbattyXrzedoNATfc4L31wC9Mhxsi1BmFhTiN8gDshx

The docs site, docs.switchboard.xyz, no longer loads (checked in November 2026). The code and SDKs are still on GitHub.

Switchboard vs Pyth and RedStone: alternatives after the shutdown

For most Solana price feeds, Pyth Network is the natural replacement, and RedStone is the other route Switchboard itself named. CryptoTicker calls Pyth the most widely used oracle on Solana. RedStone uses a pull model, writing a price on-chain only when a transaction needs it, which CryptoTicker says cuts costs for apps on many chains.

The main thing you lose is Switchboard's open feed builder. With Switchboard, a developer could launch a feed for almost any data source without approval. If your app used a custom Switchboard feed, check that your new oracle carries that data. If it doesn't, you may need a deal with a data firm or your own oracle. That is the same trend Switchboard named when it closed. For random numbers, you will need a separate VRF provider.

Switchboard team, funding and history

Switchboard Technology Labs launched Switchboard on Solana in 2021. Tribe Capital and RockawayX led its $7.5 million Series A in May 2024, per KuCoin's summary. Other backers included the Solana Foundation and Mysten Labs.

The network grew from Solana to Aptos, Sui, IOTA, Movement and other chains. In July 2025, DeFi Development Corp. signed a non-binding letter of intent with Switchboard. The plan was to build price feeds and reserve checks for real-world assets on Solana.

For the team's own take on its tech, see its Breakpoint 2025 talk on Jito BAM and its Accelerate 2025 session on TEEs.