LindeX Will Soon Support Limit Buys and Market Sells

Early next week (we're aiming for Monday), the LindeX will launch with a new change:

1. If your Currency Exchange interface is set to Basic, you will see Market Buy and Sell options, to let you buy or sell immediately and get right back to what you're doing.

2. If your interface is set to Advanced, you will now also see Limit Buy and the existing Limit Sell functions. These allow you to specify both a quantity of Linden dollars to offer, and an exchange rate. Limit Buys will work almost exactly like Limit Sells.

3. As Limit Buys may not be filled immediately, we have elected not to charge your payment option online with us. For this and other reasons, we ask that you have an existing US$ credit with us, from which Limit Buys will deduct. There will be a way for you to increase that if you so choose. Canceling a Limit Buy will similarly place the US$ charge back onto your credit.

4. We have not changed the fees. The LindeX is not selling L$ directly, but matching buy and sell offers from residents.

5. This feature will NOT, as some have mistaken, make your glass and windows shiny and streak-free. It will hopefully make your Second Life a little easier to manage!

We will be releasing to the currency exchange the ability to place L$ limit buy orders today! Furthermore, we are also releasing the ability to place market USD sell orders, as described in Jeff's previous post.

We are very excited about this update to the LindeX as we believe it will add a balancing factor to the L$ sell-only pressure we have seen up till now. The addition of L$ buying pressure, we believe, will reduce the daily volatility in the marketplace.

We have thoroughly tested and audited these new functions of the LindeX. Furthermore, we will be monitoring and auditing the launch carefully to ensure everything goes well. However, if for whatever reason you believe you’ve experienced an inconsistent event, please don’t hesitate to email me [email]chris@secondlife.com[/email] or contact customer support.

The LindeX is now going down for the upgrade. We plan to finish and deploy within 30 minutes.

Jeff