DEX Security Researcher | AMM, CLOB & Perpetuals
I’m Panther, an independent security researcher reviewing decentralized exchange and trading protocol logic. My portfolio includes Tensor NFT AMM contest work, DeepBook firm-side delivery, and research on perpetuals on Sui and Aptos. I assess exchange mechanics in the context of custody, accounting, and the runtime that executes each trade.
Exchange security is more than the swap function
For AMMs, I examine reserve accounting, liquidity shares, fee allocation, price movement, and rounding across deposits, swaps, and withdrawals. For central limit order books, I follow order placement, matching, cancellation, settlement, and asset availability. Perpetuals introduce collateral, funding, oracle freshness, liquidation, and bad-debt handling. On Sui, composable transactions can combine these operations in ways an isolated function test misses.
Relevant work and public evidence
The Tensor competitive review resulted in third place with two High findings and one Medium. DeepBook is recorded as firm-side work with private-report limits. My Sui and Aptos perpetuals field guides explain review surfaces and accounting risks without presenting private engagement details as public findings. These are distinct forms of evidence for assessing a DEX audit scope.
- Tensor NFT AMM contest record
- DeepBook and Move protocol review experience
- Sui perpetuals security review field guide
- Aptos perpetuals audit methodology
What makes a security researcher a good fit for a DEX audit?
Look for experience with your market structure, asset accounting, oracle assumptions, and execution model. An AMM, an order book, and a perpetuals exchange expose different failure modes. Share the matching or pricing model, settlement flow, fees, privileged controls, and external dependencies when requesting a review.
Work directly with an independent researcher
Send your ecosystem, repository or documentation, approximate scope, and target dates. I work directly with protocol teams and contribute to security-firm engagements. We agree on the scope, deliverables, and disclosure terms before review; private reports stay private unless publication is permitted.
Discuss your audit scope with Panther or inspect the complete portfolio.