How to start using the RFQ platform?
Our sellers will need to go through a few more steps for onboarding compared to buyers:
- You can view the platform with limited access if you are not logged in.
- You will need to register a Luxor account at
https://rfq.luxor.tech/(opens in a new tab) and agree to our Terms of Use and fill out a vendor form if you would like to use the platform to start selling. - We will run an AML/KYC check based on the information you provided via the vendor form.
- One of our team members will reach out for an introductory video meeting. If you’d like to register as an admin account and assign sub-accounts, feel free to let us know during the meeting.
- An MSPA will be sent to you for review and execution before you start responding or creating RFQs.
Risk Tiers
Risk tiers for vendors are primarily assessed qualitatively through internal reviews and discussions to determine their tier. These tiers are directly correlated with the vendor's level of exposure on the platform, resulting in limitations on the number of sell RFQs they can post and the quantity of asks they can submit under buy RFQs.
When a seller exceeds their assigned risk tier, it means that they have surpassed the predetermined level of risk approved by our organization. Rather than halting trading, funds are placed in escrow, enabling sellers to continue trading while ensuring protection and assurance for all parties involved.
Risk Tier is a function of volume transacted on the platform, as soon as a deal clears that volume will be cleared from your threshold. You can track your available exposure under the Settings page.
Can I invite other members for my company?
Yes, by inviting other team members through Settings -> Team Management. You can either grant them view or full permissions. If a member has full permissions then they'll be able to answer and accept RFQs on behalf of the company.
What can I sell on the platform?
Currently, we will focus on transacting Bitcoin ASICs on the platform. Our team will be adding more features and opening up more product categories in near future to the platform.
How many RFQs can I respond to at one time?
You can respond to 5 RFQs in total each time. Sellers with high volume can request an increase by emailing [email protected].
How do I respond to an RFQ by submitting an ask?
- Log in to the Luxor RFQ Platform using your Luxor account
- Go to “ASIC RFQs”
- Choose one of the live RFQs on the dashboard and click “+” at the end of the RFQ
- Fill out the details of the products that you are selling
- Click “Continue to Shipping” and fill out the general pickup information
- Click “Continue to Pricing”
- Review the “Pricing” section on your total order amount, total quantity, and hashrate. Click “Continue to Disclaimers” when you finish and agree to the review page.
- Review the Terms of Use and check off “I agree to Terms of Use”
- Click “Submit”
- Your ask will be assigned an Ask ID and shows up under the RFQ you responded to and you can filter your own asks by clicking the “My RFQs” button on the top right of the dashboard.
What do ask prices submitted to buyers include?
The prices are provided under the EXW term by default, which only represents the USD value of the machines but does not reflect any other costs such as applicable sales tax, VAT, HST, shipping, storage banking/crypto transfer fees, etc.
Please note, you are fully responsible for obtaining necessary information about the tax or similar obligations arising from the use of our services. You also acknowledge that we are not responsible for obtaining the mentioned information nor for the fulfillment of such tax (or similar) obligations.
How long is it before my ask expires?
Your ask will expire if the RFQ expires or if you added an expiration date for the ask, whatever happens first.
Is it mandatory to provide a DOA term?
Yes, we request a 5-day standard DOA, unless otherwise specified on the Order Form.
What are the next steps if I accept one of the asks got accepted?
One team member of ours will be reaching out and sending you the necessary documents for execution.