# Welcome The Switchboard Foundation Group facilitates community-led governance over the Switchboard protocol and helps the Switchboard DAO grow and develop the Switchboard ecosystem. It achieves this by coordinating decisions and initiatives from both token holders and the Switchboard DAO. Switchboard is the leading customisable oracle network, providing developers with secure and reliable access to real-world data for blockchain applications. Through its unique combination of economic incentives and trusted execution environments, Switchboard empowers developers to build robust and scalable decentralised applications across multiple networks and helping secure over $5 billion in value across multiple ecosystems. To learn more about the Switchboard Foundation Group, use the following links: {% content-ref url="/pages/exNG0QJ60xY8rIAlsbwl" %} [Tokenomics & Governance](/tokenomics-and-governance) {% endcontent-ref %} {% content-ref url="/pages/sS8GU1Qb4AC5msEks0Ht" %} [SWTCH Token Overview](/swtch-token-overview) {% endcontent-ref %} {% content-ref url="/pages/wUruOFBwfoM5PRFouAwh" %} [Audits](/audits) {% endcontent-ref %} {% content-ref url="/pages/DPlFn3q9EZ7hDova7k37" %} [Whitepaper](/whitepaper) {% endcontent-ref %} # SWTCH Token Overview Quick overview of SWTCH token utilities and governance ## What is SWTCH? SWTCH is the governance and utility token that powers the Switchboard oracle network. It serves as the foundation for economic security, governance participation, and network incentives across the entire Switchboard ecosystem. ## Key Token Details
PropertyValue
SymbolSWTCH
StandardSolana SPL Token
ContractSW1TCHLmRGTfW5xZknqQdpdarB8PD95sJYWpNp9TbFx
Total Supply1,000,000,000 SWTCH
## Core Utilities ### 🗳️ Governance Power * Stake SWTCH to receive svSWTCH (staked-vote SWTCH) * Vote on protocol parameters, oracle requirements, and network upgrades * Participate in decentralized decision-making ### 🔒 Network Security * Oracle operators must have svSWTCH delegated to participate * Slashing mechanisms punish bad actors * Economic alignment between all network participants ### 💰 Yield Generation * Earn rewards from oracle fees and network activity * Distributed through Jito NCN vault system * Epoch-based reward distribution (every 2-3 days) ### ⚡ Enhanced Access * Higher rate limits for data requests with svSWTCH holdings ## Staking Process 1. **Obtain SWTCH**: Claim tokens or acquire through exchanges 2. **Stake via Jito NCN**: Delegate SWTCH through Jito's Node Consensus Network vault 3. **Receive svSWTCH**: Get staked voting tokens that accrue rewards 4. **Participate**: Use svSWTCH for governance and enhanced network access ## Who Should Care About SWTCH? ### Oracle Operators * **Required**: Must have svSWTCH delegated to participate in the network * **Competitive Advantage**: More delegation = more work opportunities * **Aligned Incentives**: Economic stake ensures data quality ### DApp Developers & Protocols * **Cost Optimization**: Stake for better rate limits instead of higher fees * **Network Voice**: Governance participation in protocol evolution ### Token Holders & DeFi Users * **Yield Generation**: Earn yield helping secure the network * **Governance Participation**: Influence the future of oracle infrastructure * **Cross-Chain Benefits**: Single token securing multiple blockchain networks ## Getting Started ### 🎯 For Token Holders 1. Claim your SWTCH tokens (starting Sept 9, 2025) 2. [Stake through Jito NCN](https://app.fragmetric.xyz/restake/) to get svSWTCH 3. Participate in [governance discussions](/tokenomics-and-governance#governance-process) ### 🔗 For Oracle Operators 1. [Set up your oracle node](http://docs.switchboard.xyz/switchboard-protocol/running-a-switchboard-oracle) 2. Add a Jito NCN operator to your node to receive stake 3. Maintain high performance to earn more rewards ### 🏗️ For Developers 1. Review [staking benefits](https://docs.switchboard.xyz/switchboard-protocol/re-staking) for your application 2. Integrate [enhanced rate limits](https://docs.switchboard.xyz/switchboard-protocol/re-staking/the-switchboard-ncn#managing-usage-limits-with-stake) with svSWTCH 3. Explore [Switchboard Surge](https://docs.switchboard.xyz/switchboard-surge/surge-overview) to take advantage of higher rate limits ## Related Documentation * [**Full Governance Guide**](/tokenomics-and-governance) - Complete tokenomics and governance details * [**Providing Stake**](https://www.jito.network/restaking/start/) - How to stake SWTCH tokens * [**Oracle Staking Setup**](https://docs.switchboard.xyz/switchboard-protocol/enable-staking-to-your-oracle) - For oracle operators * [**Re-staking Benefits**](https://github.com/switchboard-xyz/foundation-docs/blob/main/re-staking/README.md) - Advanced staking strategies * [**Running Oracles**](https://docs.switchboard.xyz/switchboard-protocol/running-a-switchboard-oracle/prerequisites) - Oracle operator guides ## Community & Support * **Discord**: [discord.gg/switchboardxyz](https://discord.gg/switchboardxyz) * **Twitter**: [@switchboardxyz](https://x.com/switchboardxyz) * **Foundation**: [switchboard.foundation](https://switchboard.foundation/) *** *SWTCH empowers the community to shape the future of decentralized oracle infrastructure while earning rewards and accessing premium network features.* # Tokenomics & Governance SWTCH token governance, economics, and network security model *DeFi is powered by Switchboard. Switchboard is powered by SWTCH.* ## Overview Switchboard operates on a decentralized governance model powered by the SWTCH token, which enables community-driven decision making and economic security through a sophisticated staking and rewards system built on Jito's Node Consensus Network (NCN). The SWTCH token underpins the Switchboard protocol's economy and security, designed to align incentives between all network participants, including oracle node operators, data consumers, and token holders to foster a robust, decentralized, and self-sustaining data ecosystem. ## SWTCH Token ### Purpose & Network Security * **Governance Participation**: Direct voting power through staked svSWTCH * **Economic Security**: Oracle incentive alignment and slashing mechanisms * **Network Incentives**: Reward distribution and fee collection system * **Data Access**: Enhanced rate limits and premium product access ## Token Allocation & Vesting | Category | % of Total Supply | Vesting Schedule | | --------------------------------- | ----------------- | ------------------------------------------------------------------------ | | **Ecosystem Growth** | 26% | Unlocks over 4-6 years, often with initial cliff then linear release | | **Initial Contributors** | 25% | Cliff unlocks March 2026 with 2 year linear vesting of remaining amount | | **Core Development Team** | 23% | Cliff unlocks March 2026 with 2 year linear vesting of remaining amount | | **Protocol Rewards & Incentives** | 16% | Distributed continuously over several years as network rewards/subsidies | | **Launch & Community** | 10% | Unlocked at TGE | | **Grand Total** | **100%** | | ## svSWTCH: Staked Governance Token ### Staking Mechanism The true power of the SWTCH token is unleashed when it is staked to mint **svSWTCH** (staked-vote SWTCH). This process is facilitated through the **Jito Node Consensus Network (NCN) vault**, where users can delegate their SWTCH. In return, they receive svSWTCH, a staking token that represents their staked position and continuously accrues rewards from protocol activity. Holding svSWTCH is key to accessing the full suite of utilities within the Switchboard ecosystem. ### Core svSWTCH Utilities #### 1. Decentralized Governance Holding svSWTCH grants direct voting power over the future of the Switchboard protocol. Key areas of governance include: * **Node Operations**: Onboarding, performance requirements, and slashing conditions * **Economic Parameters**: Staking, delegation, and reward parameters * **Protocol Fees**: Core protocol fee structures and distribution * **Technical Development**: Priority upgrades and integrations #### 2. Oracle Incentives & Network Security To participate in the network and validate data, oracle operators **must have svSWTCH delegated to them**. This "skin in the game" model ensures their incentives are directly aligned with data reliability and network health. The prioritization and workload distribution among oracles are determined by a combination of their performance metrics and the **total svSWTCH delegated to them**. This competitive dynamic rewards high-performing nodes with more work and, consequently, more rewards. #### 3. Yield via Reward Distribution Switchboard's economic engine is designed to be self-sustaining through: 1. **Fee Collection**: Network fees (paid in SOL or the chain's native gas token) are collected from every data feed interaction 2. **Rewards Vault**: These fees, supplemented by a SWTCH token subsidy, are deposited into a dedicated protocol rewards vault 3. **Autonomous Distribution**: At the end of each epoch (approximately every 2-3 days), the accumulated assets are distributed. The **Jito NCN vault managers and configurations** are responsible for overseeing this distribution, ensuring rewards are fairly allocated to node operators and individuals who staked SWTCH to receive svSWTCH #### 4. Enhanced Data Access Protocols and high-volume users can stake svSWTCH to receive **higher rate limits for data requests**. This tiered access system ensures fair resource allocation, prevents spam, and prioritizes legitimate, high-demand applications that are invested in the protocol's success. svSWTCH holders also unlock free access to **Switchboard Surge**: simply hold the required amount during your subscription and tap into the fastest data feeds in crypto. ## Economic Security Model ### Jito NCN Integration Switchboard leverages Jito's Node Consensus Network for: * **Restaking Security**: Additional economic guarantees beyond native staking * **Validator Coordination**: Synchronized oracle operations across the network * **1 Click Stake Provisioning:** Network stake can be seemlessly moved between nodes via the vault managers to optimize stake weighted systems ### Incentive Structure #### Oracle Rewards * **Base Rewards**: Consistent payments for reliable data provision * **Performance Bonuses**: Additional rewards for high uptime and accuracy * **Subsidies**: Protocol-funded support for critical data feeds #### Staker Benefits * **Yield Generation**: Share of oracle fees and network rewards * **Governance Participation**: Influence over network parameters and direction ## Governance Process ### Proposal Lifecycle 1. **Discussion Phase**: Community debate on governance forums 2. **Formal Proposal**: On-chain proposal submission with required stake 3. **Voting Period**: svSWTCH holder voting with specified duration 4. **Execution**: Automatic implementation if proposal passes threshold ### Voting Mechanics * **Quorum Requirements**: Minimum participation thresholds for valid votes * **Majority Thresholds**: Different requirements for various proposal types * **Delegation**: Ability to delegate voting power to trusted representatives ## Token Claim & Getting Started ### Eligibility & Claiming Process **Who is eligible to claim SWTCH?** Whether you've participated in Switchboard Orbs points programs, staked with Fragmetric, or powered the Switchboard network as an oracle operator, you're eligible. Early supporters and contributors who helped grow Switchboard can claim SWTCH starting **September 9th, 2025**. **How to claim:** 1. Connect your Solana wallet to the official claim portal 2. Click "Claim Your Tokens" and approve the transaction 3. Cover a small SOL fee for the blockchain transaction (no Switchboard fees) 4. Use supported Solana wallets: Phantom, Solflare, Metamask, etc. ⚠️ **Security**: Always verify you're on the official claim URL and double-check before connecting wallets. ### Getting Started with Governance #### For Token Holders 1. **Claim SWTCH**: Use the official claim portal starting September 9th, 2025 2. **Stake to svSWTCH**: Convert SWTCH through Jito NCN vault for governance power 3. **Participate**: Vote on proposals and engage in community discussions #### For Oracle Operators 1. **Secure Delegation**: Attract svSWTCH delegation for network participation 2. **Maintain Performance**: High uptime and data accuracy for competitive rewards 3. **Governance Engagement**: Participate in technical protocol decisions #### For DApps & High-Volume Users 1. **Stake for Access**: Hold svSWTCH for higher rate limits and premium features 2. **Switchboard Surge**: Access fastest data feeds with svSWTCH holdings 3. **Fair Resource Allocation**: Priority access through protocol investment ### Community & Resources * **Official Website**: [switchboard.xyz](https://switchboard.xyz) * **Realms:** [Realms-Swtichboard](https://app.realms.today/dao/8P99ghbrY8V6L3rqcZ6X8cTTpF6PRLHNqfTw6LZSHsLC) * **Twitter/X**: [@switchboardxyz](https://x.com/switchboardxyz) * **Discord**: [discord.gg/switchboardxyz](https://discord.gg/switchboardxyz) * **Medium Blog**: [switchboardxyz.medium.com](https://switchboardxyz.medium.com/) * **GitHub**: [github.com/switchboard-xyz](https://github.com/switchboard-xyz) * **YouTube**: [@SwitchboardFoundationGroup](https://www.youtube.com/@SwitchboardFoundationGroup) * **Foundation Docs**: [switchboard.foundation](https://switchboard.foundation/) ### Frequently Asked Questions **What is SWTCH?** SWTCH is the backbone of the economic security model that powers the Switchboard protocol. Designed to secure and incentivize participation in the most decentralized oracle network, SWTCH boosts data reliability and integrity for the fastest feeds in crypto. Today, the Switchboard protocol already secures over $5B in value across 50+ dapps and projects. **What can I do with my SWTCH?** SWTCH holders can stake their tokens to secure the Switchboard oracle network and enhance data reliability across DeFi. Staking SWTCH mints svSWTCH, which unlocks staking rewards and governance power. For oracle operators, staked svSWTCH represents "skin in the game," backing their feeds and aligning incentives with network integrity. **Can I use SWTCH to pay for price feeds?** SWTCH can be staked and delegated to oracles within the Switchboard network. High-volume users unlock higher rate limits and premium products like Switchboard Surge with svSWTCH holdings. **Are my SWTCH tokens transferable immediately?** Additional information about SWTCH allocations, vesting schedules, and transfer restrictions is available in the [Switchboard Foundation docs](https://switchboard.foundation/). *** *This governance system ensures Switchboard remains decentralized, secure, and aligned with community interests while maintaining the highest standards of oracle reliability and cross-chain interoperability. SWTCH empowers the community to shape the future of decentralized oracle infrastructure.* # Audits The Switchboard Protocol has been audited by Audits are available upon request. # Whitepaper {% file src="/files/eFQTGQ5dkUuFI0zuao4X" %}