UPDATE: It is understood from some community members that unstaking and withdrawal functions have resumed at BISS Exchange. For users who wish to utilize other platforms for staking IOST, you may wish to try unstaking or withdrawing during this period.
Note 1: The latest information regarding unstaking/withdrawal resuming at BISS is shared by users in the IOST community channels. It is applicable as at the time of writing, however there may still be risks that things change. The Foundation recommend that users take this chance to consider other staking platforms that give users full control over their token wallets.
Note 2: The Foundation does not make any representations nor commitments on behalf of BISS Exchange, which is an independent third party outside of the Foundation’s control.
All voting rewards accumulated in the period to date have been distributed. Contribution rewards and LOL airdrop distribution will require more time and cooperation from the BISS team to complete. Please kindly wait patiently for updates on this. This update only impacts users who hold their IOST on BISS Exchange. IOST holders using other staking / wallet services outside of BISS are not affected.
For users who are unclear as to the situation at BISS Exchange, we have prepared a list of frequently asked questions below to help you navigate the landscape.
IOST Foundation Team
Frequently Asked Questions
How Does BISS interact with the IOST ecosystem?
BISS is a node partner in the IOST ecosystem and at the launch of the mainnet, provided a voting platform to users to stake their IOST.
BISS is founded by BMAN, a prominent crypto investor from China and founder of Metropolis Capital.
IOST does not own BISS and has no influence or control over their operations, nor access to their trading system and backend.
What happened to BISS?
According to market sources, it is understood that BISS’ exchange service offerings to users are not aligned with the regulations in China. To safeguard user interests, operations at BISS were previously halted subject to a regulatory enquiry. It is understood that BISS had cooperating fully and the matter has reached a satisfactory closure.
Are my funds that are held in BISS still safe?
We understand from community users that unstaking and withdrawal functions have resumed at BISS.
What can I do to have more control over my assets in the future?
As the popular saying goes — “Not your keys, not your tokens”. Following the mainnet launch, the Foundation had shared various asset management solutions (besides BISS) with our community to manage/vote/access their IOST tokens, such as using iWallet, TokenPocket or PureWallet.
We recommend that users create and stake directly through their IOST mainnet account, which gives them full control over their assets. There are always risks associated with having assets held by third parties, as seen in this case with BISS, which may result in adverse effect on users when these third-party intermediaries are compromised.
If you would like to create a mainnet account with IOST, please reference this mainnet account registration guide: https://medium.com/iost/new-user-guide-how-to-register-an-iost-mainnet-account-907000c00b9
If you still have questions or need more guidance, please reach out to any of our admins in the official IOST International Telegram group (t.me/officialios) and they will assist you.
How can I contact BISS?
If you would like to reach out to BISS directly, you can try the following channels: