Luxor has launched its first ASIC RFQ platform with the goal of maximum transparency and market access.
Luxor Technologies, a complete Bitcoin mining software and services company, has launched its first request-for-quote (RFQ) platform for buying and selling Bitcoin mining hardware.
A press release sent to Bitcoin Magazine describes what the RFQ platform is, saying “RFQ is a marketplace where users can place orders (requests) for specific items. Luxor’s two-sided RFQ allows buyers and sellers to make requests for Bitcoin mining ASICs.
The idea is to create a more liquid and easy-to-use market for ASICs – special machines built specifically to mine bitcoins. According to the release, “Using the open bid system, ASIC traders can request and negotiate prices directly, increasing price discovery and increasing liquidity in the secondary market.”
Prior to this market, ASIC traders had struggled with a fragmented and opaque over-the-counter market. This system will theoretically increase market transparency, while allowing easier access and more precise market prices. ASIC brokers will be the backbone of market makers on the platform, and will be able to use them to increase deal flow and facilitate other transactions.
“We built Luxor RFQ because we saw the need for a unified platform for trading Bitcoin mining hardware,” Luxor Operations Manager Lauren Lin commented. “Before, buyers and sellers relied on a place to buy and sell mining hardware. Now, they can view offers, listings, and settlement prices all in one place, which increases price transparency and speeds up the mining hardware procurement process.
The RFQ platform will provide ultimate flexibility to buyers, allowing them to specify orders by quantity, condition, model type, location and more. In addition, sellers will be able to mix models from different manufacturers in an order. The platform’s auction-style bidding process will benefit both sellers and brokers.
Luxor expressed its commitment to transparency, saying that “platform fees are transparent and based on volume so that market makers can conduct transactions in a larger and more profitable way.”
Bitcoiners interested in learning more about Luxor’s RFQ, can visit the RFQ website or contact the company at: sales@luxor.tech.