Switchboard, one of decentralized finance’s most used permissionless oracle networks, is shutting down, with users given until September 25 to migrate to alternatives such as Pyth and RedStone.
The announcement landed September 19. Switchboard Technology Labs Inc., the core team behind the network, is winding down entirely and deprecating every implementation, meaning any protocol still reading Switchboard price feeds after the September 25 deadline loses its data source. Protocols on Solana, Aptos, Sui, IOTA and Movement are all in scope.
The team directed affected protocols toward Pyth and RedStone as the primary migration targets. Neither is a like-for-like swap: Switchboard’s distinguishing feature was that anyone could create custom data feeds without gatekeeping, while both replacements are more curated services. Teams running bespoke feeds face the most work on a six-day clock.
The shutdown was not out of nowhere. In late August, around August 29 and 30, Switchboard halted operations on the Move-based chains Aptos, Sui, IOTA and Movement, and that disruption reportedly caused losses for multiple DeFi protocols relying on its feeds. No specific protocols have been named.
As for why the team pulled the plug, Switchboard reportedly pointed to converging pressures: AI tools have cut the cost of building proprietary oracles, letting protocols that once needed a third party build their own; a persistent bear market has squeezed budgets; and security exploits across the oracle category have eroded trust in third-party feeds.
Switchboard exits amid a tough year for crypto infrastructure. More than 260 crypto projects have reportedly shut down in 2026, one of the worst stretches for project viability since the last major bear cycle.
What happens to Switchboard’s code, token or on-chain infrastructure after the deadline has not been specified.
