What is Switchboard (SWTCH)

I. Project Introduction

1. What Is Switchboard?

Switchboard is a permissionless, customizable, multi-chain oracle protocol, supporting general data feeds and verifiable randomness. It allows anyone to push any type of data, offering one-stop services for developers, helping to power the next generation of decentralized applications. At the same time, its “on-demand pull” model avoids the network congestion and high costs associated with traditional push-based oracles.

2. How Does Switchboard Work?

The core of Switchboard's operational mechanism lies in:

On-demand pull model: dApps request data only when needed, avoiding unnecessary redundancy on-chain.

High-performance data delivery: For example, its Surge system enables sub-100 millisecond latency on Solana, transmitting data from source to dApps without dependence on intermediate layers.

Multi-chain support: Already supporting 10+ major chains, particularly Solana and Sui.

Use cases: Already serving 51+ lending protocols, safeguarding approximately $2.26 billion in Total Value Secured (TVS). Notable users include Kamino, Suilend, Save, MarginFi, Scallop Lend, and others.

3. Who Founded Switchboard?

The core team members of Switchboard have experience in top techs and crypto companies such as Google and Circle.

Chris Hermida (CEO & Co-Founder): A veteran cryptocurrency trader with 10 years of experience. He previously held roles at Circle and JST Capital.

Mitch Gildenberg (CTO & Co-Founder): Former security engineer at Google, with 3 years of experience in blockchain technology.

Jackson Jessup (Head of Product & Co-Founder): Former engineer at Google, specializing in blockchain product development with 3 years of experience.

4. Switchboard Tokenomics

Switchboard's native token is $SWTCH, with a total supply of one billion deployed on the Solana chain.

The primary uses of $SWTCH include: 1) Governance: Token holders can stake to vote on protocol governance decisions and network parameter settings. 2) Node incentives: Oracle node operators need to stake xSWTCH to improve reliability and increase their chances of being selected. 3) Ecosystem Value Capture: Economic incentives are provided for data feeds and requests.

Token allocation plan: 26% for ecosystem growth, 25% for initial contributors, 23% for core team, 16% for protocol rewards and 10% for community and launch.

5. Timeline of Key Milestones

In 2021, Switchboard started and launched products.

On June 17, 2021, Switchboard completed seed funding worth $3.5 million led by Lemniscap.

On May 28, 2024, Switchboard completed Series A, raising $7.5 million, co-led by Tribe Capital and RockawayX.

On April 11, 2025, it launched the Orbs points system to incentivize participation from communities and partners.

On August 7, 2025,  it launched Surge, enabling data transmission on Solana with latency approaching sub-100 milliseconds.

On September 9, 2025, it published the $SWTCH tokenomics.

II. Token Information
1) Basic Information
Token name:Switchboard (SWTCH)

III. Related Links
Website:https://switchboard.xyz/
Explorers：https://solscan.io/token/SW1TCHLmRGTfW5xZknqQdpdarB8PD95sJYWpNp9TbFx
Socials： https://x.com/switchboardxyz

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.