Latest Switchboard Protocol (SWTCH) News Update

Deep Dive

1. @GhanemLab: Security audit flags extreme centralization bearish

“Team holds 100% supply with minting enabled – no circulating tokens. Security score 45.6/100. Price volatility 26.9% despite restricted trading.”
– @GhanemLab (21.3K followers · 189K impressions · 2025-09-09 12:00 UTC)
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What this means: Bearish for SWTCH because unrestricted minting and full team control create dilution risks. The 78% single-wallet dominance amplifies potential market manipulation.

2. @ziru999: Launchpool frenzy meets oracle ambition mixed

“APR hit 1534% last round – lock BGB/SWTCH for ‘risk-free’ rewards. Long-term? TVL $5B across 10 chains could challenge Chainlink… but watch unlock cliffs!”
– @ziru999 (8.2K followers · 47K impressions · 2025-09-10 13:53 UTC)
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What this means: Mixed – short-term farming demand could lift prices, but 1B max supply and upcoming unlocks (currently 17% circulating) may pressure valuations post-reward distribution.

3. @ITTechPL: Exchange promo fuels trading volume neutral

“Lock tokens for 5.5M SWTCH rewards – 2-day window. Raydium pair already shows 26% daily swings.”
– @ITTechPL (6.7K followers · 12K impressions · 2025-09-09 19:15 UTC)
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What this means: Neutral – exchange incentives boost liquidity (24 pairs active), but SWTCH’s 0.62 turnover ratio suggests speculative trading dominates real adoption.

Conclusion

The consensus on SWTCH is mixed, torn between oracle infrastructure potential and extreme tokenomics risks. Watch for team wallet movements and TVL growth across its 10 supported chains to gauge whether utility can outpace centralization concerns. Does a 45.6 security score leave room for protocol upgrades, or is this a ticking time bomb?

Deep Dive

1. Toobit Listing (12 September 2025)

Overview:
Toobit listed SWTCH for spot trading on 12 September, with SWTCH/USDT pairs available in its Infrastructure Trading Zone. The exchange highlighted Switchboard’s role as a permissionless oracle for DeFi and web3, though it cautioned about volatility risks.

What this means:
Bullish for liquidity, as Toobit’s user base expands SWTCH’s trading avenues. However, the 11% 24h price surge post-listing (now at $0.107) faces headwinds from broader market stagnation. (Toobit)

2. High-Risk Audit Flags (9 September 2025)

Overview:
Ghanem Lab’s security scan revealed critical risks: 100% team ownership, 78% supply held by one wallet, and a low security score (45.6/100). The audit noted active minting and no burns, raising dilution concerns.

What this means:
Bearish for trust, as centralized control and supply risks clash with Switchboard’s “decentralized oracle” branding. The report advises avoiding investment without audits, potentially deterring institutional interest. (Ghanem Lab)

3. Bitget Launchpool Launch (10 September 2025)

Overview:
Bitget’s 2-day Launchpool offered 5.5M SWTCH rewards for staking BGB or SWTCH, with APRs up to 1,534%. The event aimed to incentivize holding but coincided with a 34% 30-day price drop.

What this means:
Neutral short-term – rewards may stabilize prices via locked supply, but post-event sell pressure could follow. Long-term value hinges on Switchboard’s adoption across 10+ chains and $5B TVL. (Bitget)

Conclusion

SWTCH’s exchange growth contrasts sharply with governance red flags, creating a high-risk, high-reward narrative. Will Switchboard’s multi-chain oracle adoption outpace concerns over centralization? Monitor protocol upgrades and holder distribution for clarity.

Deep Dive

1. Token Launch & Network Structure (9 September 2025)

Overview:
SWTCH’s token launch focuses on decentralizing its oracle network via staking and governance. The token secures node operations and enables protocol fee distribution.

The Jito Node Consensus Network (NCN) on Solana requires node operators to stake SWTCH or JitoSOL, tying token utility to network security. Staking SWTCH mints svSWTCH, granting voting power over node onboarding, slashing conditions, and protocol upgrades.

What this means:
This is neutral for SWTCH because while it adds utility, 100% team ownership and high holder concentration (78% top holder) raise centralization risks. The token’s value depends on adoption of Switchboard’s oracle services.
(Source)

2. SDK Updates (May 2022)

Overview:
Switchboard V2 SDK added support for localnet testing, Uniswap/SushiSwap price feeds, and Anchor framework integration.

Developers can replicate Switchboard’s devnet environment locally for testing oracle interactions. New task types enable fetching swap prices from Ethereum-based DEXs and parsing on-chain Solana data.

What this means:
This is bullish for SWTCH because robust SDKs attract developers, but the updates are outdated (2022) and lack recent momentum. Modern competitors may offer more advanced tooling.
(Source)

Conclusion

Switchboard’s codebase lacks visible recent updates, with its latest major development being September’s token launch. The project’s reliance on a three-year-old SDK and high centralization risks highlight gaps in technical momentum. How will SWTCH balance token incentives with long-term protocol innovation?

Deep Dive

1. Core Team Vesting Start (March 2026)

Overview:
Team and contributor allocations (subject to a 6-month cliff since token launch) will start vesting in March 2026, with gradual releases afterward. This aligns long-term incentives but introduces potential sell pressure.

What this means:
- Bullish: Reduces "dump risk" by staggering supply unlocks, signaling team commitment.
- Bearish: 78% supply concentration (Ghanem Lab) could amplify volatility if large holders exit post-vesting.

2. Jito NCN Expansion (2026)

Overview:
Switchboard plans to scale its Node Consensus Network via Jito restaking, aiming to strengthen oracle security for protocols securing over $5B in value. The Fragmetric vault partnership aims to improve node operator incentives and liquidity.

What this means:
- Bullish: Enhanced network security via restaked SWTCH/JitoSOL could attract more DeFi integrations.
- Risk: Competing oracle networks like Pyth and Chainlink dominate market share, requiring sustained technical execution.

Conclusion

SWTCH’s roadmap balances protocol security upgrades (via Jito restaking) with careful supply management through staged vesting. The March 2026 milestone will test holder confidence in team lockups, while NCN expansion could drive adoption if network effects materialize. How will SWTCH’s permissionless data feeds differentiate against established oracle rivals?