According to CoinMeta, it has been reported that the multi-chain oracle project Switchboard has announced the cessation of its operations. Its core developer, Switchboard Technology Labs, will gradually wind down its remaining services. All implementations of Switchboard will cease maintenance from today onwards, with support to be completely terminated on September 25th. Protocols that utilize this oracle are required to immediately migrate to alternative solutions such as Pyth and Redstone. Switchboard indicates that AI has reduced the costs associated with building one's own oracles. The bear market in crypto has led to a decrease in the number of new public chains and project budgets. Additionally, the direct cooperation model between Hyperliquid and data providers like S&P suggests that protocols may increasingly obtain data directly, thereby diminishing the value of third-party oracle networks. Switchboard was founded in 2021 and has raised approximately 11 million US dollars in funding over 2021 and 2024, with investors including Tribe Capital, RockawayX, Solana Foundation, Aptos, StarkWare, and Alameda Research, among others.