Since inception, Switchboard was built with a primary goal in mind: democratize data feeds such that any developer can build, configure, and own their data on-chain. By enabling developers and lowering the barrier of entry for bringing data on-chain, we will help foster the next wave of applications for Web 3.
Blockchains cannot communicate with Web 2 services and need an intermediary to facilitate this exchange. Solana programs need an oracle service to fetch and pre-populate the data on-chain before it can be used by a program. A fault tolerant data feed should have multiple off-chain sources defined, which can be time consuming for developers to seek out and configure.
Enter the Publisher.
The Publisher is a decentralized data catalog, giving data feed publishers (typically developers) a convenient interface to find and build data feeds. The Publisher includes a catalog of curated job definitions from a wide array of sources ranging from FTX, Coinbase, ESPN, or even Weather.com.
This streamlines the data feed creation process and allows a developer to publish a data feed on-chain in under 60 seconds! The Publisher also includes a Feed Builder to build and test custom job definitions in a simple to use drag-n-drop interface. After a publisher has created their feeds on-chain, they can monitor and fund their data feed on the My Feeds dashboard.
The new Publisher decentralizes the data catalog and gives anybody the opportunity to contribute and get rewarded. Curators are incentivized to scour the internet and find unique data points that could be of interest to the broader community.
Steps of a Curator
- Finds a new data point
- Build job definition in the Publisher
- Add it to the decentralized catalog
Incentives for a Curator
The curator’s token wallet receives a kickback from any revenue generated from a job definition, or anytime when a data feed is funded with the curator’s job definition. This incentivizes the community to contribute and grow the Switchboard data catalog and help enable web3 developers.
The Publisher is an exciting milestone for Switchboard because it opens up the data catalog to the community and allows anyone to contribute and get rewarded.
Switchboard is excited to bring further decentralization to the oracle space and welcome any feedback from the community. We’re excited to see what the community will build with it next; give us a ring, our line is open!
References & links
Overview | Switchboard
The Publisher is a decentralized marketplace that allows anyone to build a data feed and deploy it on-chain.
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