RFQ (Request for Quote)
We are excited to announce our upcoming launch of an RFQ-based system that simplifies the process of requesting and responding to quotes for options trading.
RFQ Process
In our RFQ-based system, the Arrow API plays a crucial role in facilitating on-chain transactions on behalf of users. As depicted in the diagram, when processing requests, the API provides either two responses:
If the market makers' price is lower than the user's maximum price, we return a transaction hash signifying that the transaction has been successfully submitted on-chain.
If the market makers' price exceeds the user's maximum price, we return the market makers' best price and indicate that the market makers' price was too high.
The frontend plays a crucial role in interacting with the API for various functions, including price requests. The frontend reads data from the blockchain but also has users post transactions for various things like approvals. While the front end does interact with the blockchain, it primarily reads data from it and doesn't use it as a passage for data to the API.
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