Armen Azatyan talks DXS, trading on the CoinGeek Weekly Livestream

Getting your Trinity Audio player ready...

On this episode of the CoinGeek Weekly Livestream, the CEO of DXS, Armen Azatyan, talks about his trading app’s development, his vision for the future, and the true spirit of Bitcoin.

Wuckert’s new article on CoinGeek

Before kicking off the conversation with Azatyan, Wuckert reminds viewers to check out his latest article on CoinGeek: HODLing Breaks Bitcoin, Part 4. In it, he explores how sound money should incentivize productivity and why companies like Microstrategy (NASDAQ: MSTR) making more money for shareholders by HODLing than by engaging in economic activity can become a problem when it happens at scale.

Who is Armen Azatyan, and what is DXS?

Azatyan is the CEO of DXS, formerly TDXP. He was in finance before this and was involved in investment banking. In 2016, he managed a small digital currency fund, and that’s how he entered the industry.

Eventually, inspired by the vision of how Bitcoin can reduce corruption and increase transparency, they launched in 2020. After testing out a few blockchains like EOS, they found the transaction fees to be too high; hence, they settled on BSV.

DXS is an on-chain trading app, and Azatyan believes that all transactions must be recorded on-chain for anything to be truly decentralized. By this measure, he doesn’t consider so-called DEXes on Ethereum and other chains to be truly decentralized. They simply can’t scale enough to be so.

“Capitalism is trading,” Azatyan says. It’s a sort of global competition, and he wants to level the playing field and enable everyone to have access. While Bitcoin liberated data, DXS wants to liberate liquidity, noting how it is controlled by one party today. They have remained loyal to BSV because it has stayed loyal to the true vision of Bitcoin laid out by Satoshi Nakamoto.

More about the DXS tech stack and how it works

Azatyan says the app was developing for about two years before it launched. However, even when it did so, there were still many missing pieces in terms of infrastructure, and the team had to improvize a lot.

One of the most essential pieces is BSV, a blockchain that scales, he says. Next, it uses the STAS token protocol. He’s thankful for it, noting that when he first came along, there was no token protocol on BSV, and the creator of STAS offered the solution. There are stablecoins and multiple token protocols to choose from these days, but back then, STAS was a lifesaver.

The idea is to offer non-custodial access to global financial markets, Azatyan says. While it isn’t perfectly non-custodial yet, utilizing smart contracts and wrapped tokens gets them close enough for now.

The long-term vision is simple: unleash liquidity, enable anyone, anywhere, to access global financial markets and trade them, and scale all of this with tiny fees on BSV.

To learn more about prediction markets, whether we’re in an asset bubble, and the true meaning of decentralization, check out the livestream episode via this link.

Watch: Building bridges toward a common goal