CryptoThrust X Aurox AMA
Guest: Giorgi Khazaradze (CEO Aurox)
I’m the CEO of Aurox, which is a browser based trading terminal that support data and charting of 50+ exchanges, customized workspaces, and many different functionalities that aren’t offered by exchange themselves. The platform is currently fully functional and supports several thousand daily active traders. It is also completely free to use.
We recently introduced the Urus token, which powers the terminal by allowing users access to certain functions that are not available to non-token holders. For example, we have our custom indicator that signals when to enter the market, and in order to set up alerts on that indicator, you have to be a token holder. But the main utility of the token will come closer to the end of the year when we develop the Aurox Lend and Trade protocols.
Aurox lend will be a decentralized lending protocol, similar to Compound, with every slight changes. Whereas the Aurox Trade system will aggregate liquidity across the top exchanges and allow users to place a single order that gets distributed across them. The user will then also be able to borrow money directly from Aurox lend to execute leveraged trades.
Segment 1- Project Introduction
Can you tell us idea behind this unique name “Aurox”
Aurox is named after the biggest bull that ever lived (Aurochs) on earth. It’s a play on word for basically what we hear all the time in crypto, bull run.
Please tell us about Aurox Terminal and its Features, How it can be useful for the traders?
The terminal provides the user with basically everything necessary to be successful. Not only are you able to monitor and chart across 20k+ pairs, but you can also customize your workspace however you see fit. You can have 20 charts on the screen at the same time, 10+ different workspaces for each of the pairs your monitoring, and even execute orders directly from Aurox to one of the several exchanges we support ordering through.
But one of the things that makes it easy for a new trader is our proprietary indicators. The Aurox Indicator basically draws green and red arrows directly on the chart to show you where to go long and short. On the daily, its over 70% accurate and it can become even more accurate with just a bit of additional work from the user.
What benefits lenders and Borrowers get from your platform.
The Aurox Lend/Trade system isn’t developed yet but when it is, it will have some of the highest APY for a DeFi lending protocol. Leverage traders pay some of the highest interests on the market currently, sometimes up to 30–40%+ interest. Since our system connects up lenders with leverage traders directly, the lenders will be able to see a much higher APY.
As far as borrowers, they’re not going to see any difference between our platform and any others. To them, it will be the same as anywhere else. But we expect much higher liquidity, which can make a difference to borrowers who want to utilize larger funds.
Please briefly tell us about $URUS Token. What are it’s utilities?
The token has two separate utilities. The first utility is within the actual terminal infrastructure. There are and will be functions added into the terminal which will only be available for token holders. One of them, I described above, which is receiving alerts via webbook or email when the Aurox indicator triggers a long/short arrow. There are a few other functions in the works such as on-chain indicators, indicator screener, DeFi apes, and some others. These functions will all require different amount of tokens. You can hold, stake or provide liquidity to get access to these functions, we do not take the token away from you.
The second utility will come from the Aurox Lend/Trade infrastructure. For example, the token will allow lenders to get a higher interest rate, whereas traders will receive discounted trading fees. There are a few other utilities planned for this part but until we get closer to releasing it, we can’t really say exactly what they will be.
Segment 2- Questions from Twitter
Q1. Nobody can guarantee the security of Smart contract. But Audit play an important role to find out the known bugs of smart contract. Can you tell us describe how strong is your security? Have you done an audit by any third party?
Audits are just one tool that can help prevent issues with smart contracts, but before you get to the audit, there are multiple things that can be done to prevent issues. First, you need to have a proper team.
A lot of tokens nowadays launched on Uniswap are being developed overnight by someone who barely knows solidity. They’ll fork a public repo, change out a few details and then deploy it on-chain.
We spent a lot of time with our developers making sure they were well versed with solidity and could develop proper code. Not only that but they created unit tests for 90%+ of the entire code base. Unit tests serve as a way to programmatically test the functions of the code, therefore if there is a small issue that is overlooked, a unit test will usually catch it.
Then as a last step, you have the audit done. Our audit was done by a team who has audited major companies, such as DyDx.
Q2. As we know, By the Token price many people judge a project, What do you have to Say to investors? What’s the plan to increase the Token Demand?
Our token price has been slowly increasing over the past several weeks. We launched at .22 cents and now it’s sitting at ~$30. Most of our users who were with us managed to get their tokens at under $5, so they’re more than happy with their decision, I would imagine.
As far as new investors go, the token is still at low marketcap. We’re at ~15mil mcap right now, and we have a long ways to go. With only 1 million tokens in supply, it will get progressively more and more expensive as demand rises.
Our focus has been on token utility and some partnerships that are coming up in order to drive mass adoption. We have a lot of cross marketing campaigns as well, in order to get in front of new communities and spread awareness of our product. Finally, we’re working on CEX listings in order to get more people to discover our token instead of having to search for us through thousands of tokens on Uniswap.
Q3. What major partnership have you achieved and do you have any upcoming new project partners to be announced?
I can’t give a lot of details about the upcoming ones, but we’re announcing one today. I suggest people follow us on twitter (https://twitter.com/getaurox) as we make our announcements there. There is another one coming up early next week as well.
https://twitter.com/getaurox/status/1390383534339203078?s=20
Q4. In how many ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
Our main revenue model is the Aurox Lend and Trade system. By driving users to our terminal and allowing them to use our services free, we can slowly convert them into Aurox Trade/Lend users. When those users borrow, lend, or trade, we’ll be able to generate fees. Some of those fees will actually be used to purchase back our tokens, and further rewarding our token holders with increasing price and decreasing circulating supply
Q5. Which projects are your closest competitors? For example, do you accept Uniswap, Curve or Balancer as your competitors? How will you take to the next level?
Our main competitor is Orion. They’re currently at ~300mil mcap, so you can see how far we have to grow from here. Our concepts might be similar on the surface but they’re fairly different when it comes to the tech behind it. For example, to execute a trade on their terminal, you have to deposit ORN tokens using a smart contract, then execute another smart contract to place an order. It costs $50–100 just to execute one order.
Our system will be a hybrid of decenteralization and centralization. Giving traders the low fees and latency necessary to properly and effectively trades, while lenders will be safe by utilizing DeFi lending. Most traders right now would rather pay less fees than deal with decentralization, and this is evident from the CEX volumes compared to DEXes. Orion’s trader fees are even worse than some DEXes because of the way they designed their architecture, whereas Aurox trade will have some of the lowest fees on the market.
Segment 3- Live Telegram Session
Q1. Does your project support staking program? If yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Yes, our platform does support staking. The staking is simply, you go to our website (https://staking.getaurox.com), and you can stake the tokens for up to 7 years. The staking is done in increments of 1 month at a time, and the APY is calculated by the total months divided by 2. Therefore, if you stake for 1 year, your APY will be 6%. The maximum achievable apy is 20%, unless you’re also providing liquidity at which point it can be as high as 30%
Q2. Can you give me 1 important reasons why I should choose Aurox instead of others?
Our terminal is currently free to use, unlike our competitors. You’re welcome to play around with it and see the potential for yourself.
But as far as what’s different between us and our competitors; our terminal provides a lot more functionalities than anyone else. With workspace management, indicator alerts, proprietary indicators and so many other things that our competitors do not offer, or charge for
Q3. Of the many projects I have found, among them are selling more of their own tokens for profit without thinking about users who have followed the project. Will this also happen to the Aurox project? Can you describe it to us as a user in your project?
Our team tokens are locked up for a long time. There are 20,000 liquid tokens right now available for us and we have no plans of touching them. If we do touch them, they’ll be done in order to further the project itself. The rest of the team tokens don’t get unlocked for a while. They’re locked for 1 year and then vested over the course of 2 years. So even if we wanted to sell the tokens, we’re enable to.
Q4. Any details on where we can buy tokens and possible listings in future?
Yes, you can purchase the tokens currently on Uniswap/Bilaxy, but more CEX listings will be coming up this quarter
Q5. What are your priorities for 2021 ? Do you have any roadmap?
Priority right now is marketing. In the past 2 weeks, we have doubled our daily active user base and we’ll continue with our marketing efforts. We’ve also increased our token holders from ~700 to close to 1.1k now, and steadily increasing at about 1% per day.
Our roadmap for development is available on our website https://getaurox.com/token
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More Information about Aurox:
Website: https://getaurox.com
Aurox Terminal: https://aurox.app/crbv
Twitter: https://twitter.com/getaurox
Telegram: https://t.me/getaurox
Signals channel: https://aurox.app/signals
Whitepaper: https://getaurox.com/token/whitepaper.pdf
GitHub: https://github.com/UrusToken
Docs: https://getaurox.com/token/documentation.html
Medium: https://medium.com/urus-token
