Q&A: IUNGO business update

Q&A: IUNGO business update

27 August 2018


We continue on delivering answers to questions from our community. This article is dedicated to IUNGO business updates.


Q: What KPI’s does IUNGO management use to measure its success?

A: Iungo uses KPIs based on technological milestones on one hand and commercial on the other.

Both of these components go hand in hand as we roll out the Enterprise (B2B) and consumer (B2C) sides of the decentralized business model.


Q: If I was nearby your offices. Am I welcome to come inside and say “hi”? What’s the address?

A: Everyone who is interested and passionate about IUNGO is welcome to our cozy modern office located at Park Town business center, Lvovo street 105A, LT-05222 Vilnius, Lithuania. Check on Google Maps.


Q: What was the best advice you ever received from Dylan Sharkey (advisor)?

A: Dylan has huge experience in business and communication as well as knowledge about our market, so we cannot exclude one special advice.  


Q: What expos are IUNGO business developers visiting?  (+upcoming)

– Who are they, what’s their mission?

– What they deliver and are there any targets set for them?

A: IUNGO is focused now to visit Wi-Fi industry events, covering Wi-Fi marketing, monetization, and HotSpot 2.0 technology. Also, we are focusing on HORECA industry, as primary, for faster Global coverage. We will announce participation as soon as we are booked in the events. Recently we have been in CEBIT, Germany.


Q: Have you heard of the aviation blockchain challenge (a Lufthansa and SAP initiative)? How about participating in such kind of challenges?

A: We have filled out the application. Participation in such kind of challenges is useful for strengthening brand awareness worldwide. We will consider suggestions from the community to enter any suitable competition and events. Please shout us about it!


Q: FON has raised over 100M in funds (7 rounds since 2006) How will IUNGO raise new funds in future?

A: Iungo will fund its global expansion through the use of the funds generated from selling marketing and other services to businesses of all sizes.


Q: If the team believes in a project – they would be happy to longer lock-in period. What is team tokens lock period? Where are wallets for a proof?

A: Team tokens are locked by a smart contract. You can read smart contract here

/// Tokens to be allocated to the locked Founders fund

/// 12% (3 x 4%) of total ING allocated to the Founders fund locked as follows:

/// first 4% locked for 6 months (183 days)


The first phase must be released into founders fund wallet after 183 days from crowdsale end. Check it on Etherscan 


Further releases coded in smart contract:

/// second 4% locked for 12 months (365 days)

/// third 4% locked for 18 months (548 days)


Ricardas Bernotavicius, IUNGO network CEO and Co-Founder assures: “Co-founders are dedicated to this project and will not use released tokens for at least two years (August 2020). We disclose openly our smart contract as well as founders wallet address to check the status freely”.