“An RFQ is a marketplace where users can create orders (requests) for specific items. Luxor’s double-sided RFQ allows both buyers and sellers to create requests for Bitcoin mining ASICs.”

The idea is that it will create a more liquid and easy to use marketplace for ASICs — specialized machines specifically built to mine bitcoin. According to the release, “Using an open-bid system, ASIC traders can place requests and negotiate prices directly, improving price discovery and increasing liquidity in the secondary market.”