Why Switchboard On-Demand?

Switchboard On-Demand is a new first-of-its-kind Oracle paradigm for aggregating secure information on chain.

About Switchboard

Since our launch in April 2021, Switchboard has secured billions of dollars of on-chain volume offering high security/ low latency guarantees for its pricing data.

Blockchain oracles are not one-size-fits-all solutions. Some prioritize pricing fidelity, others focus on risk management, and some emphasize flexibility.

Switchboard has been deeply involved in the step-by-step evolution of each of these archetypes. By closely observing market behavior, we have identified and addressed many persistent pain points in blockchain oracles.

As such, we looked to start back at the basics and build a new solution built on the principles of:

Offering the highest data security level to the protocol
Offering the cheapest solution to maintain data
Offering the fastest oracle in any blockchain ecosystem
Making the protocol as easy to use as possible

With these, our design goals have produced Switchboard-On-Demand.

On-Demand

Switchboard oracles aggregate data from first-party oracles, exchange APIs, and more. Users just pick the sources they want for the most accurate prices (or any other numeric / event data). To ensure safe oracle data aggregation, Switchboard employs a unique approach.

Many pull-based blockchain oracles manage data consensus via their own L1 and then propagate to users, which causes:

Increased data staleness before reaching the user
An oracle operator advantage over end-users, because they can see the price before the communicated price is actionable

Switchboard On-Demand only runs in confidential runtimes, preventing the oracle operator from observing the data they collect or operations they perform. This ensures end users always have the first look advantage via data propagation.

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Last updated 4 months ago