Glossary

Definitions Glossary

  1. RFQ: Request-for-Quote is an invitation for market participants to submit bids and asks. It follows a process where sellers or buyers select bids or asks submitted by one or more market participants to fulfill specific orders.

  2. Ask: An ask is a specific price that the seller is willing to sell a product for. It is a numerical value that indicates the seller's desired selling price.

  3. Bid: A bid is a specific price that the buyer is willing to pay to purchase a product. It is a numerical value that reflects the buyer's intended purchase price.

  4. Sellers: Those who supply the ASICs, submit and maintain “Sell RFQ” or responses under their accounts. They are also referred to as the "Supplier" in the Supplier_Luxor Master Sales and Purchase Agreement.

  5. Buyers: Those who purchase the ASICs, submit and maintain “Buy RFQ” or responses under their accounts. They are also referred to as the "Purchaser" in the Luxor_Purchaser Master Sales and Purchase Agreement.

  6. User: A person or entity who uses or operates the Luxor RFQ account, including both sellers and buyers.

  7. Product: Currently, our platform offers a diverse selection of Bitcoin ASIC models available on RFQ. Our team is working on adding more product categories in the near future.

  8. QTY: Quantity of machines.

  9. Condition: The condition of the products is an indication of whether they have been "used" for previously used and unboxed items, and "new" for brand new products.

  10. OEM: Original Equipment Manufacturer.

  11. EXW: Ex Works is a trade term under which the seller transfers title and ownership of the products to the buyer at the seller's premises or at another place specified by the seller. This does not include shipping, duties, tariffs, and other potential costs.

  12. DDP: Delivered Duty Paid. The seller assumes all responsibility, risk, and costs (including tariffs) associated with transporting goods until the buyer receives or transfers them at the destination port.

  13. DOA: Dead on Arrival. It refers to products that arrive at the buyer's location but cannot be powered on upon delivery.

  14. Warranty: A guarantee issued by the manufacturer to repair or replace the products under specific circumstances within a specified period of time. The warranty period start date and expiration are determined by the manufacturer.

  15. MOQ: Minimum Order Quantity.

  16. Expiration: The end of the period for which an RFQ is valid.

  17. /TH:TheU.S.dollarvalueofaspecificproductperterahash.Whencalculatingthetotalpurchasepriceofamachine,youmultiplythetotalhashrate(TH)by/TH: The U.S. dollar value of a specific product per terahash. When calculating the total purchase price of a machine, you multiply the total hashrate (TH) by /TH. This pricing method is commonly seen in bitcoin ASICs sold in mixed hashrate.

  18. J/TH: Measurement of ASICs' efficiency, which indicates the machine’s power consumption per terahash. The lower the J/TH, the better the efficiency of the ASIC.

  19. Partial fulfillment (in the "RFQ Builder"): If a buyer selects "partial fulfillment" when creating an RFQ, it means the buyer allows the seller to fulfill only a portion of the order instead of fulfilling the entire order.

  20. By quantity (in the "RFQ Builder"): This option allows the buyer to request a specific quantity of products to be sold, providing more flexibility regarding the total hashrate.

  21. By hashrate (in the "RFQ Builder"): This option allows the buyer to request a specific total hashrate of products, providing more flexibility regarding the machines models and their quantity.

  22. MSPA: Master Sales and Purchase Agreement, a document outlining the standardized terms and conditions of an agreement between parties that can govern multiple transactions. Each user only needs to sign it once unless there is an update of the MSPA.

  23. Order Form: A customizable document that outlines the specific details and potential terms of each individual order, not covered by the MSPA. Users need to execute and sign this document for each order.