Exclusive Interview with Aurox CEO Giorgi Khazaradze: Constructing the Definitive Crypto Trading Terminal
The cryptocurrency market has experienced significant growth in the past year, thanks to increased participation from institutions and a surge in retail users. Aurox, a crypto trading terminal, has also benefited from this market growth, expanding its user base from less than a thousand to over 51,000 traders. To learn more about Aurox, we spoke with CEO Giorgi Khazaradze, who shared insights about the project’s background, upcoming developments, and future plans.
Aurox was founded by three co-founders who have been working together since high school. They had previously been involved in various businesses before venturing into the crypto industry. In 2016, Giorgi bought his first cryptocurrency on Bittrex, and he and his friends started investing in crypto with profits from their other companies. However, they faced difficulties with trading cryptocurrencies due to data issues and limited user interfaces on exchanges. As entrepreneurs, they saw an opportunity to create a product that would address these problems and provide a better trading experience.
Development of the Aurox terminal began in 2017, with beta and alpha releases to gather user feedback and identify any issues. In September 2020, the terminal was officially unveiled, and since then, the user base has grown significantly to over 51,000 registered users. Aurox Lend, one of the most anticipated products on the roadmap, aims to simplify the lending process for traders.
Unlike existing lending protocols like Compound and Aave, Aurox Lend allows traders to borrow and execute trades immediately without the need for multiple steps. Lenders are protected by collateral on-chain, while traders have a streamlined process for borrowing and trading. This opens up opportunities for leveraged trading and shorting the market. Aurox Lend aims to simplify the lending process, attract more traders, and increase the interest rates for lenders.
Regarding the integration with other chains, Aurox plans to support the Ethereum network due to its widespread reach. However, they are also exploring solutions like ZK-Rollups and Starkware to make trading more affordable for users. Giorgi mentioned that Aurox Lend will be initially released on the Ethereum chain, but within 30 days, it will be available on multiple other chains that are EVM-compatible.
Giorgi expressed confidence that Ethereum will overcome its fee challenges soon, thanks to various scaling solutions in development. Aurox is constantly researching these solutions to make the trading process simpler and cheaper for users. As for the launch of URUS rewards for bURUS liquidity providers, the contracts are currently being audited, and Giorgi expects them to be available before the end of the year.
While Giorgi is optimistic about securing a tier-2 exchange listing for Aurox, he mentioned that a tier-1 listing is uncertain. The team has made connections and spoken to many people, but they are waiting for everything to fall into place. Looking ahead, Giorgi envisions Aurox capturing a large audience of users within the next few years and becoming the go-to trading terminal for cryptocurrency traders. He expressed gratitude to the community for their support and contributions to the success of the company.
In conclusion, Aurox has experienced significant growth in its user base and is working on exciting developments like Aurox Lend. The team is dedicated to providing a user-friendly trading experience and aims to become the leading trading terminal in the cryptocurrency market.
