# Proposal

## Why

The owner cannot currently distinguish liquidation risk from profitability in EMC. Issue #102 requires venue-reported risk at isolated-position and shared Cross-account level, including honest handling of old or incomplete observations.

## What Changes

- Add venue reference/liquidation prices to Jupiter's overview-only observations.
- Read Phoenix TraderView risk using officially derived trader addresses independently of TWAP, preserving account thresholds and sentinel handling.
- **BREAKING**: Phoenix adapter constructors now require the existing SolanaBlockChain dependency for local address derivation; Hub wiring is updated.
- Add a Risk column, scope-aware summaries and freshness expiration during existing UI polling.
- Use the owner's selected policy: neutral isolated distance, red only for reached/crossed boundary; Phoenix's own tiers retain their colors.
- Expire risk observations at five minutes without implying a five-minute safety guarantee. Preserve prior critical states with age/failure annotations.

## Capabilities

### New Capabilities

None.

### Modified Capabilities

- `jupiter-perps-overview`: reported risk prices and observation timestamps.
- `phoenix-perps-service`: official address resolution and reported account/position risk.
- `evelyn-perps-service`: immutable risk scopes with exact distance/utilization and retained status.
- `evelyn-perps-overview`: Risk cells, deduplicated group summaries and expiration of unchanged snapshots.

## Impact

Integration DTOs/readers, Phoenix's existing Solana dependency wiring, Evelyn snapshots, JavaFX cells and existing project/shared documentation. No new dependencies, trading, live polling, commits or pushes.