Solo dev ‘Dreesus’ on making a memecoin legit


You won’t know Dreesus, however if you happen to’ve been following crypto the previous couple of months you’re probably conversant in his work.

Following the launch of his Easy Cool Automated Cash ($SCAM) token, the pseudonymous developer garnered protection from a seemingly countless checklist of mainstream and cryptomedia publications, together with Vice, The Wall Avenue Journal, Benzinga, Mic, The Verge, The Week, and CNBC, amongst others.

Launched in early Could on the peak of the memecoin bubble, SCAM was half experiment — Dreesus had by no means launched a token earlier than — and half an effort to make enjoyable of different, overhyped shitcoin. Nonetheless, within the mania it in some way managed to improbably take off, and now its creator is tasked with main a Frankenstein crypto mission that he began primarily by chance.

“There’s a lot that’s larger than me proper now… individuals put cash on this, so now I’ve to make this one thing helpful,” Dreesus informed Cointelegraph in an interview in Miami.

Dreesus outdoors the doorway to Bitcoin 2021

“As soon as I put that coin, that liquidity pool collectively, as soon as there was a chart, that grew to become a consciousness outdoors of myself. I would like to make use of the whole lot in my energy to make it higher.”

Memes get actual

A part of what’s driving Dreesus is a burning want to show his doubters mistaken. He took purpose specifically at CNBC correspondent Douglas Boneparthe, who he describes as “some CNBC motherfucker.” 

The dearth of background analysis is what rankled him: with only a few fast Google searches it’s straightforward to seek out his actual title, and from there his dozens and dozens of IMDB credit — he’s a profitable Manufacturing Supervisor who as soon as had two exhibits operating back-to-back on a primetime channel. Nonetheless, the media insisted on describing him as a “Tik-Tokker” — an childish label he thinks was designed to make his coin’s success appear to be an oddity.

“You discuss all the way down to one thing you don’t perceive. These [journalists] are nonetheless speaking about the identical 5 FAANG firms that personal 95% of the marketshare, after which they speak about crypto prefer it’s a Ponzi scheme,” he says. 

One of the simplest ways to get revenge, as he sees it, is by including actual worth to the world — one thing that careerist speaking heads don’t know a lot about.

“I like making them sick now. It makes me go more durable. I’m going to make one thing that’s helpful for this world, they usually’re going to be speaking about my coin. They went to high school ten, twenty years, did all this finance and legislation stuff, labored their means up from espresso boy — they usually have to speak about my mission,” he cackles.

Proper now, the plans to make the mission legit at present takes the type of an academic platform the place Dreesus walks by way of the fundamentals of utilizing in style DeFi functions and chains. As he sees it, there’s a profound info asymmetry for informal traders — something they’ve entry to has already been pumped.

“What I’m making an attempt to show individuals is to be early. And you’ll be early. There’s no boundaries to us, like there may be in shares — in shares you want $5-10 million to get in on Coinbase at $02., they usually say “shield retail traders”… you’re going to guard traders by making them wait till the inventory is $400 and allow them to dump on everybody?”

Winners and losers

His perspective is considerably skewed, on condition that he created a meme token that attracted, at its peak, $70 million in liquidity — he is aware of higher than most how irrational the market may be. His level in training isn’t to make individuals suppose they’ll all win — actually, he thinks most individuals are going to lose. 

“It’s part of the sport, it’s life — even if you happen to put all of your cash in a financial savings account, you’re not gonna win. It’s about giving of us an opportunity to essentially win. There is perhaps somebody proper now with much less cash however extra starvation than me, and if you happen to give them the instruments to go on the market, they’re going to succeed. Some individuals are going to fail all day, whether or not you assist them or not, however my objective is to assist individuals who may help themselves.”

A member of the “SCAMily”

It’s a place Dreesus shall be nicely suited to. He’s effortlessly loquacious, however with out the slightest trace of pretension — in one other life he may need been a preacher. Moreover, somebody not too long ago identified to him that he’s one of many few Black builders within the area, he mentioned — and in consequence he feels an obligation to maintain grinding.

“I do know I’ve devoted my life to the crypto area… not simply my mission, however what crypto can do for the world. I obtained time to fall on my ass somewhat bit, and I obtained greater than sufficient time to succeed.”