  We studied the IW And star V507 Cyg using ASAS-SN data, ZTF data and our
snapshot photometry. The star has been found to be in a long standstill in 2020
May-2022 March (and it still continues now). Such long-lasting standstills have
been found in a few other IW And stars in the past literature. We found that
this system was systematically fainter by 0.3 mag between 2018 March and 2019
January when it showed dwarf nova-type variations, including IW And-type
states. This is one of the clearest pieces of evidence that the dwarf nova-type
state in Z Cam stars (in a broader sense) is associated with a decrease in the
mass-transfer rate (~25% for a duration of 300 d in this case). The object also
showed IW And-type phenomena in 2019, when the system was as bright as in the
current long standstill. This finding suggests that the condition whether the
IW And-type phenomenon occurs or not is subtle under the same mass-transfer
rate.
