Definitions Glossary

1. RFQ: request-for-quote, it’s an invitation for market participants to submit bids and asks following with a process in which sellers or buyers select bids or asks submitted by one or more market participants for the opportunity to fulfill certain orders.
2. Ask: a want-to-sell invitation, submitted by sellers
3. Bid: a want-to-buy invitation, submitted by buyers
4. Sellers: who supply the products for sale, submit and maintain WTS RFQ or responses under their accounts, also the “Supplier” in the Supplier_Luxor Master Sales and Purchase Agreement [link1]
5. Buyers: who purchase the products, submit and maintain WTB RFQ or responses under their accounts, also the “Purchaser” in the Luxor_Purchaser Master Sales and Purchase Agreement [link2]
6. User: a person or entity who uses or operates the Luxor RFQ account, including both sellers and buyers.
7. Product: currently the products available for RFQ on the platform are a wide variety of different models of Bitcoin ASICs. Our team is working on adding more categories of products in near future.
8. QTY: Quantity of machines.
9. Condition: whether the products have been unboxed and used, the condition can be used or new.
10. OEM: original equipment manufacturer.
11. EXW: Ex Works, under which trade term the seller transfers title and ownership of the products to the buyer at the seller's premises or at another place named by the seller. This does not include shipping, duties, tariffs, and other potential costs.
12. DDP: Delivered Duty Paid. The seller assumes all of the 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, the products arrive to the buyer and cannot be powered on.
14. Warranty: a guarantee issued by the manufacturer to repair or replace the products on certain occasions 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: the U.S. dollar value of a specific product on a per TH basis. The total purchase price of such a machine will be total hashrate (TH) * $/TH. This pricing method is commonly seen in bitcoin ASICs sold in mixed hashrate.
18. J/TH: the measurement of ASICs' efficiency, same as W/TH. It indicates the products’ power consumption on a per terahash basis. The lower the J/TH the better the efficiency of the ASIC.
19. Partial fulfillment (in the “RFQ Builder”): if a buyer opts in “partial fulfillment” when creating an RFQ, it means the buyer allows the seller to partially fulfill the order instead of fulfilling the total order.
20. By quantity (in the “RFQ Builder”): the option allows the buyer to request a certain quantity of products to be sold, with more flexibility around the total hashrate.
21. By hashrate (in the “RFQ Builder”): the option allows the buyer to request a certain total hashrate of products, with more flexibility around the quantity.
22. MSPA: master sales and purchase agreement, a document that outlines the standardized terms and conditions of an agreement between parties that can govern multiple transactions. Each user only needs to sign it once.
23. Order Form: a customizable document outlines each specific order’s details and potential terms not covered by the MSPA; users need to execute and sign this document for each individual order.