JD Gagnon is the co-founder of BENQI, a decentralized finance (DeFi) lending protocol, and Rome Blockchain Labs Inc. He is recognized for his emphasis on robust risk management within the blockchain and DeFi sectors. Gagnon's career spans financial planning, business consulting, and digital media before his entry into the blockchain industry.

Education

JD Gagnon attended the University of Alberta. He furthered his education by obtaining a Certified Financial Planner Designation in Financial Planning and Services from FP Canada, completing this certification between 2009 and 2014. ^{[1] [5]}

Career

Gagnon began his professional career in the financial sector, initially working as a Consultant at Investors Group from 2008 to 2009. He was later promoted to Division Director at the same company, holding the role from 2009 to 2014. Between 2015 and 2018, he worked as a Business Strategy and Digital Transition Consultant at Trend Shifter. In 2017, he founded Scotch & Ramen Media, Inc., where he served as Managing Director and provided consulting services in business strategy and digital operations until 2019, which served as a basis for later work with decentralized finance.

In 2020, Gagnon co-founded Rome Blockchain Labs Inc., followed by the establishment of BENQI, a decentralized finance (DeFi) protocol built on the Avalanche network. As Co-Founder and CEO of BENQI, he has been involved in the development of the protocol’s strategic framework, including its risk management approach. BENQI launched in August 2021 and recorded $1 billion in total value locked (TVL) shortly after its release.

Gagnon has discussed the technical features of Avalanche, citing attributes such as low transaction fees, network finality, and security features as factors relevant to infrastructure selection for DeFi projects. He has identified cost and accessibility limitations in earlier DeFi ecosystems, suggesting that platforms offering lower transaction costs have supported broader user participation. In various interviews, he referenced trends observed on networks like Binance Smart Chain and Polygon as indicative of market interest in scalable blockchain solutions.

As part of BENQI’s protocol design, Gagnon has emphasized risk management practices that include data-driven analysis and transparency tools. He has stated that providing users with accessible information on protocol-level risks is a necessary function of platforms that manage large capital flows. BENQI integrated solutions such as IntoTheBlock’s DeFi Risk Radar to present economic risks through data visualizations.

Gagnon has addressed industry challenges in adopting comprehensive risk frameworks, noting that initial reception to BENQI’s model varied among different investor groups. However, the protocol’s approach has reportedly been adopted by entities such as institutional investors and capital allocators. He has commented that regulatory developments may increase expectations for transparent risk reporting within DeFi systems. According to Gagnon, practices such as real-time risk visualization and third-party audits may become more prevalent as the sector evolves. ^{[1] [2] [3] [4] [5]}

Interviews

Blockchain and RWAs #01

On July 26, 2023, JD Gagnon participated in an interview hosted by the Dexalot YouTube channel, where he addressed topics related to blockchain infrastructure, regulatory considerations, and developments within the Avalanche ecosystem. The discussion reflected his views on the role of decentralized technologies and the evolution of financial applications on blockchain platforms.

In the interview, Gagnon stated that blockchain technology is frequently misunderstood as being limited to cryptocurrencies, while in his view, its broader utility lies in the tokenization of real-world assets (RWAs), including financial instruments such as equities and bonds. He indicated that integrating these assets into blockchain systems could improve financial operations and attract participation from institutional entities.

Gagnon also commented on the regulatory environment, identifying jurisdictional differences and fragmented oversight frameworks, such as those of the U.S. Securities and Exchange Commission (SEC) and the European Union’s Markets in Crypto-Assets Regulation (MiCA), as challenges to the global scalability of blockchain-based applications. He argued that regulation would play a central role in determining how blockchain platforms evolve to support wider usage.

The interview further included an overview of BENQI Finance’s staking product for Avalanche’s AVAX token. According to Gagnon, the liquid staking model, referred to as sAVAX, was designed to maintain network security while enabling asset liquidity through tokenized representations of staked tokens. He described this as an approach aimed at addressing limitations of traditional staking mechanisms, particularly in relation to capital availability.

Additionally, Gagnon discussed the Ignite platform, which he described as a framework to reduce the upfront costs associated with launching subnets on Avalanche. The platform applies an operational expenditure (OPEX) model rather than requiring participants to hold large amounts of AVAX for validator operation. He suggested that this model could facilitate entry for organizations with constraints related to capital or compliance.

Throughout the conversation, Gagnon underscored several themes, including the relevance of risk transparency, the need for interoperable infrastructure, and the conditions required for broader adoption of decentralized systems. He also highlighted the importance of aligning blockchain-based services with institutional requirements and regulatory expectations.

Gagnon is also the host of Go Fund Yourself, a podcast where he discusses topics related to digital assets, policy developments, and market trends. The podcast serves as a medium through which he shares his interpretations of ongoing changes in the blockchain and financial technology sectors. ^[6]