$VetMe: The Safe Vetting Platform For Your DeFi Transactions

Olawale Soremi

5 min readFeb 17, 2023

A market capped over $1trillion has only ~530 online exchanges, according to CoinMarketCap.

You can guess how many scams happen in the market and fraudsters ripping traders off, every single day.

I sought for a flexible yet trusted security solution with little risk.

This innovation is called VetMe.

Do you wanna know how to detect real clients who you can buy from, in online crypto market?

Follow closely.

First, what’s exactly VetMe?

$Vetme is a decentralized platform providing users with an escrow service, OTC DEX on the blockchain & a vetting service with KYC AI system.

A digital solution to operate safe transactions while getting the exact value of your money (crypto).

VetMe anchors on four utilities:

VetMe Utilities explained in one picture.

• KYC
• Vetting
• P2P Escrow service
• Over-the-counter (OTC) Trading

VetMe helps to detect transparent transactions, trace them with their modified smart contract.
We are always working on security to protect your valuable crypto resources.

Oops…are you confused with the big words?
I’ll explain them all.

KYC: Know Your Customer
But VetMe's is not just ordinary authentication.
It's fully integrated with AI integration that detect any scam or fraud almost immediately.

Vetting: to verify something (e.g a transaction) before it is delivered.

Escrow: Let’s assume you’re a buyer. You placed an order on a DEX platform, a seller’s cryptocurrency will automatically be transferred from the seller’s wallet to the temporary deposit with the escrow system.

OTC DEX: Over-the-counter decentralized exchange.
DEXs are decentralized crypto exchanges offering access to digital assets without an intermediary.

Let's go in details on how the utilities work just for YOU.

1. VETME’S UNIQUE KYC SERVICE

For those of us that have been in the crypto space for a while, I believe this isn't new to us.

KYC is a process used by businesses to verify the identity of their clients and assess their potential risks for money misappropriation, terrorism financing or worse.

The VetMe KYC service uses more sophisticated techniques that are typically used to ensure safety and trust to overcome this issue.

This involves gathering a lot of data on the client using resources like Google Maps, GPS, and concrete references.

They aim to provide their clients with a safe and reliable atmosphere by taking these extra safeguards.

VetMe has redefined Vetting and Escrow Services

2. VETME’s VETTING SOLUTION

VetMe is a platform that simply allows users to vet.

That was actually where they derived their name from: “Vet-Me”), i.e., verify the authenticity of the individuals.

This individual to be vetted could be probably a crypto influencer, a forex trader, or anyone at all.

To achieve this, VetMe relies on a network of ordinary traders, followers of the individual being vetted, and other interested parties who are willing to help with the vetting process.

As choices are made based on the collective input of the entire network rather than by a single individual or group, this decentralized structure enables better openness and justice.

3. P2P ESCROW SERVICE SYSTEM

VetMe P2P Escrow explained in one picture

If you’ll be doing more of business transactions through VetMe, follow closely to see how their escrow service works…

With their system, you are assured of security and safety when doing business on any blockchain-dependent platform.

The aim of this system is to guarantee satisfaction of both parties to an agreement while keep their resources safe.

Let’s say you need a service of a UX designer, you use VetMe to escrow for the transaction.

Then the designer is contacted for a job offer & she decides to proceed with the escrow-involved transaction.

By proceeding, it means that VetMe, as the middleman, will collect the payment for the service from you.

Cool right?

Moreover, it is when you approve the job done is satisfactory that $VetMe will release the money to the contracted developer.

This way, a transparent deal is achieved with the parties involved is satisfied.

4. VETME’S OTC PLATFORM

Why use VetMe OTC DEX for your transactions?

VetMe also offers Over-the-counter (OTC) trading, which allows traders to swap tokens without impacting the price.

Not only that, buyers & sellers are free to place orders for transactions without any need for an intermediary.

There's a cool stuff about this utility…

The VetMe's OTC platform allows users to connect their wallets, such as MetaMask or Trust Wallet, to the platform.

On the platform, users can choose to list or swap their tokens.
To list a token, a user offers to exchange it for another token at a fixed price.

They can do this by approving the transaction on the listing interface on our platform. Once the transaction is approved, their smart contract will receive the information and list the trade on the platform.

Here’s another exciting benefit about this utility.

You can use VetMe tokens to pay for your transactions. Any transaction!!
Therefore, it’s safe for you to say VetMe is a universal solution for business payment needs.

Unique and safe solution just for you.

Aside these utilities, here are other factors that strengthen my conviction about $Vetme changing the DeFi game.

Tokenomics
Partnerships with DeFi protocols and real-world businesses
Proper marketing plans and strategies
Solid and proper auditing

More conviction? Here’s the breakdown of their tokenomics:

No Pre-sale
3% marketing
No Private Sale
2% Development
1-year liquidity lock
1 Billion Total Supply
1% Automatic Liquidity Provider (Auto LP)

In case you are doubting their smart contract, it has been fully audited by InterFi Network & their audit results came out with flying colors.