Solo dev ‘Dreesus’ on making a memecoin legit


You may not know Dreesus, however should you’ve been following crypto the previous few months you’re probably accustomed to his work.

Following the launch of his Easy Cool Automated Cash ($SCAM) token, the pseudonymous developer garnered protection from a seemingly countless record 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 Might 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. Nevertheless, within the mania it someway managed to improbably take off, and now its creator is tasked with main a Frankenstein crypto venture that he began primarily by chance.

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

Dreesus exterior 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 exterior of myself. I want to make use of every part 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 flawed. He took intention specifically at CNBC correspondent Douglas Boneparthe, who he describes as “some CNBC motherfucker.” 

The shortage of background analysis is what rankled him: with just some 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 reveals working 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 seem like an oddity.

“You speak 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 discuss crypto prefer it’s a Ponzi scheme,” he says. 

The easiest way 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, he says.

“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, and so they’re going to be speaking about my coin. They went to highschool ten, twenty years, did all this finance and legislation stuff, labored their method up from espresso boy — and so they have to speak about my venture,” he cackles.

Proper now, the plans to make the venture legit presently takes the type of an academic platform the place Dreesus walks via the fundamentals of utilizing common DeFi purposes and chains. As he sees it, there’s a profound data asymmetry for informal traders — something they’ve entry to has already been pumped.

“What I’m attempting to show folks is to be early. And you may 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., and so they say “defend 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, provided 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 is. His level in training isn’t to make folks suppose they will all win — the truth is, he thinks most individuals are going to lose. 

“It’s part of the sport, it’s life — even should you put all of your cash in a financial savings account, you’re not gonna win. It’s about giving of us an opportunity to actually win. There could be somebody proper now with much less cash however extra starvation than me, and should you 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 will help themselves.”

A member of the “SCAMily”

It’s a place Dreesus can be effectively 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 just lately identified to him that he’s one of many few Black builders within the house, he stated — and in consequence he feels an obligation to maintain grinding.

“I do know I’ve devoted my life to the crypto house… not simply my venture, however what crypto can do for the world. I received time to fall on my ass just a little bit, and I received greater than sufficient time to succeed.”