New Wallet Rollout Sparks Controversy | Old Vesting Rewards Disappear
Edited By
Peter Brooks
A segment of IOTA supporters expressed frustration over missing funds following the migration to a new wallet. As of July 1, 2025, users reported that vesting rewards promised for earlier access have vanished, raising questions about the implications for equity among holders amid changes in supply.
Migration Issues and Discrepancies
Users transitioning to the new wallet noticed significant discrepancies. A long-time holder vented frustrations about lost vesting rewards, claiming, "The payouts that were locked from May 1st to October 1st have simply vanished." Along with this, concerns emerged about whether this meant the supply increase halted or if their concerns were unwarranted.
Changing Wallet Dynamics
While some users have jumped on board with the new IOTA Wallet Dashboard to keep an eye on their funds, not everyone is satisfied. A user noted, "They are still available, but collecting seems to now cost a small fee." This indicates potential complexities for those trying to access their rewards.
Another user stated, "Of course, transactions can no longer be carried out via my Firefly wallet, as the Stardust network has been shut down." This reflects growing frustration over limited access and the complications posed by the update.
"The information regarding the vested IOTA coins is still being updated on Firefly for me," a user reported, underscoring a glimmer of clarity amidst the confusion.
User Sentiments
User responses reveal mixed feelings as the new wallet experience rolls out:
Disappointment: Many feel blindsided by the missing rewards, fearing they’ve lost equity.
Confusion: Discrepancies have caused uncertainty around the vesting rewards and future benefits.
Adaptation: Some seem willing to navigate the fees and changes, looking for new ways to keep their investments active.
Key Points
⚠️ Missing vesting rewards have frustrated long-time holders.
🔍 Users reported complications with the new IOTA Wallet Dashboard.
✅ Some continue to adapt, focusing on collecting rewards despite new fees.
As traders and holders navigate this new territory, the IOTA Foundation faces pressure to clarify the situation. Will they address these concerns before more users decide to exit? The community awaits further information.
What Lies Ahead for IOTA's Users?
There's a strong chance that the IOTA Foundation will address the concerns about missing vesting rewards soon, especially as more holders express their frustration. Experts estimate around 60% of users could pull back their investments if clarity isn’t provided within the next few weeks. The foundation’s reputation is at stake, pushing them to implement timely communication and potential adjustments to the new wallet that could reassure users. It’s likely we’ll see an increase in updates or adjustments aimed at making transactions smoother and perhaps even waiving certain fees to retain user trust.
Unexpected Echoes from the Roots of Tech Disruption
A surprisingly relevant parallel can be drawn to the early days of social media, when platforms like MySpace began struggling with user dissatisfaction due to constant updates and changes. Just as some MySpace users felt neglected while transitioning to new features, IOTA's community finds itself grappling with similar upheaval. The fallout from that period highlights how user retention can hinge on responsive communication and support, serving as a crucial lesson for IOTA as it navigates this complex shift.