The "Kangju" period (Minardi: "Antique 2"), 3rd c. - 1st c. b.c.
Why "Kangju"? It's a nomadic political entity mentioned from the 2nd century onwards in Chinese sources; the name, which is unfortunate in the case of Khorezm, was chosen by Tolstov to suggest the idea of a political confederation with the Kazakh steppe. At least chronologically, the period could also be described as "Hellenistic", with even more reservations than the previous period was called "Achaemenid".
The earliest important site appears to be Kalaly-gyr 1, which all previous authors date to the "Achaemenid" period, but which Minardi, on the basis of the ceramics, reassigns to the 3rd-2nd century. Neither is Kjuzeli-gyr, which was located nearby, a city, despite its 77 ha, as the enclosure is entirely empty, except for the small "palace" area. The art of fortification has developed: in addition to the hollow rampart, this one features circular towers and three barbicans. Stone column bases of a post-Achaemenid type (similar to those of the "Temple of Frataraka" in Persepolis) appeared and were to be found again for a long time to come, but the most spectacular borrowing was a plaster mould reproducing an Achaemenid capital griffin. Published architectural reconstructions imply that this model was transposed in stone at the top of the columns (but nowhere in Khorezm have stone columns been found). Tolstov assumed that this was the palace of the Achaemenid satrap, left unfinished following the "liberation" of Khorezm in the 4th century. In reality, there was no satrap and probably no "liberation". If the site is indeed post-Achaemenid, it would demonstrate an offbeat effect of Achaemenid imperial art in what may have been a frontier aristocratic residence.