Press Release
Will $2B be enough to reign in the Twitter censorship regime?
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On Friday morning, April 15th, a small group of entrepreneurs started working on a big idea to help the biggest and most energetic billionaire, Elon Musk, take back the town square and upgrade free speech for the Internet age.
Five days later, 69420 DAO was born – on the auspicious 4/20 day, no less – with the mission to get Twitter open sourced as a protocol for free speech.
In parallel with raising a target of $2B USD into the 69420 DAO’s smart contract, 69420 DAO is working with legal and financial service providers to help it establish a free speech trust in Delaware for the benefit of Web3 and Twitter users. That legal vehicle will use a licensed broker-dealer to convert crypto to fiat and fiat to Twitter stock. 69420 DAO will also launch community governance on-chain and steward the community as it grows.
Freedom of speech underpins all of free democratic society, and like Elon, the 69420 DAO sees Twitter as the de facto town square, and that people should be able to speak freely on the platform within the bounds of the law.
What does a free speech protocol look like? 69420 DAO believes that if all of these objectives are met at Twitter, it will have fulfilled its vision and won a huge battle in the culture war against elitists who feel threatened by our free speech and quest to retain our First Amendment rights.
- All algorithms posted to a publicly-visible cold repo, like on GitHub
- Everything that can be published to that code repo under the law should be
- Make it known what code is being run in production
- Give a community of governance token holders the ability to make changes to the code being run using on-chain governance
- Progressively migrating servers to Web3
- Allowing users to export their social graph and Tweets
- Giving user’s ownership of each of their Tweets as an non-fungible token (NFT)
- Labeling users as human or bot
- Sybil resistance
- Gas charges to reduce spam
- Metamask integration as login with an NFT for each account
- Multi-chain integration including Arweave integration
One of the DAO’s most radical or interesting ideas is to manage aspects of its on-chain governance by tweet.
If Elon musk does succeed in taking Twitter private, the DAO wants him to keep the same reporting standards as a public company, to the extent doing so does not hinder the ability to open source Twitter as a communications public good protocol under the stewardship of users and the Web3 community.
For more information:
Chat with DAO members on Telegram
