Switchboard

Switchboard (SWTCH) emerges as a technically robust and secure oracle infrastructure protocol, primarily serving the Solana ecosystem while actively expanding to Sui, Aptos, and EVM chains. The project receives its highest marks in Security (9/10) and Active Development (8.8/10), driven by its use of Trusted Execution Environments (TEEs), a clean audit history with OtterSec, and a high-velocity engineering team delivering modular SDKs. Its market positioning (8.5/10) is distinct, focusing on permissionless, 'long-tail' data feeds that allow it to complement rather than directly clash with incumbents like Chainlink or Pyth. The team is public and backed by reputable VCs, fostering trust. However, the investment thesis is tempered by Tokenomics (6.8/10); while the token has clear utility for payments and staking, the high concentration of supply among insiders (approx. 48%) and the resulting centralization risks act as a drag on the overall score. Community sentiment is technically strong but cautious regarding these distribution mechanics. Overall, SWTCH represents a high-utility infrastructure play with excellent fundamentals, slightly weighed down by centralized token economics.