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Risk Engine Overview

A Panoptic V2 RiskEngine defines collateral, solvency, oracle, interest, and fee policy for a pool. User positions and balances live in PanopticPool and CollateralTracker, rather than in the risk engine.

Select the pool's engine
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Read PanopticPool.riskEngine() before applying parameters. The active crypto blue-chip, stocks, and inverted stocks engines differ in collateral ratios, loan margin, cross-token buffers, and oracle periods. The parameter page records observations for each address on Ethereum and Robinhood.

The two stock engines use the same stock risk-policy source with reversed token0/token1 cross buffers. A pool's token ordering determines how those coefficients affect its collateral; a symbol such as USDC alone does not identify the engine.

Responsibilities
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  • Collateral and solvency: evaluate complete portfolios in both underlying tokens, including streamia (streaming premium) and interest effects.
  • Oracle system and safe mode: select risk-check prices and restrict operations during divergence or guardian intervention.
  • Interest model: determine borrow rates from utilization and stored market state.
  • Fees: provide commission rates, builder routing, and exercise-cost parameters.
  • Third-party operations: calculate risk and settlement inputs for liquidation, exercise, and streamia settlement.

Modularity and migration
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The RiskEngine address is part of a pool's immutable clone arguments. Modularity allows different pools to select different risk policies; it does not make an existing pool's engine replaceable.

Moving to a new RiskEngine requires migrating positions/state to a pool configured with that engine. Deployment of a replacement engine does not migrate balances or positions automatically. The guardian can lock or unlock safe mode but cannot change the pool's engine through those controls.

See the RiskEngine reference, stock reference, and PanopticPool reference for interfaces and pinned public source.

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