David Lu is a co-founder and core contributor at Drift Protocol, a decentralized trading infrastructure built on the Solana blockchain. He is instrumental in shaping Drift's product strategy, enhancing capital efficiency, and fostering the growth of its ecosystem. ^[1]

Education

Lu earned a Bachelor of Commerce (BCom) in Innovation, Strategy, and Finance from the University of Nottingham Business School. Subsequently, he attended the University of New South Wales (UNSW), where he completed both a Bachelor of Laws (LLB) and a Bachelor of Commerce (BCom) with a specialization in Finance. ^[2]

Career

Lu's career began in 2016 as a co-founder of Textbook Ventures, a student-led investment initiative based in Sydney, where he remained until 2018. Following this, from 2018 to 2021, he served as a managing partner at a hedge fund, where he gained experience in risk management and investment strategy. In 2021, he transitioned into angel investing, making over 20 investments across various funds and early-stage projects. That same year, he co-founded Drift Labs alongside Cindy Leow, where he has since been involved in building and maintaining the decentralized trading protocol Drift on the Solana blockchain. ^[3]

Interviews

Drift’s Growth

In an interview with SolanaFloor in October 2024, Lu discussed the significant growth and developments of Drift Protocol since its establishment in March 2021. He noted that Drift had navigated various market fluctuations and learned crucial lessons, particularly following a major incident in 2022. Lu highlighted the protocol's focus on refining its core products, specifically its prediction market offering known as B.E.T. This feature enables users to engage in cross-margin trading using a diverse range of collateral types, which has attracted a broad user base, including individuals new to traditional derivatives. Lu emphasized Drift's commitment to user engagement through community initiatives and upcoming mobile solutions. He also reflected on the importance of Solana's network improvements and the future potential of prediction markets within the decentralized finance (DeFi) ecosystem. The discussion concluded with an optimistic outlook on the evolving opportunities in the crypto space, particularly concerning decentralized applications and the broader Solana economy. ^[3]

Presentations

City for DeFi

During Drift DeFi Day in New York City on May 21, 2025, Lu delivered a presentation titled "The City for DeFi," outlining the evolution and future vision of Drift Protocol. He positioned Drift as a foundational layer for decentralized finance on the Solana blockchain, noting its transformation over four years from a small team into an extensive ecosystem with nearly 100 partners. Lu emphasized that the protocol is designed to be open and permissionless, allowing anyone to build upon it without needing centralized authorization. He highlighted the importance of supporting diverse applications and user interfaces to enhance accessibility and usability for a global audience. Lu also addressed the challenges associated with ecosystem growth, particularly in scaling and navigating regulatory concerns. He articulated ambitious goals for the Drift Foundation, aiming to generate substantial economic value within three years by fostering an open, composable financial infrastructure that supports the next generation of permissionless institutions. ^[4]

DeFi Super Protocol

At the Multicoin Summit in December 2024, Lu presented Drift's vision as a "DeFi Super Protocol." He began by addressing the inherent issues within centralized finance, such as significant barriers and costs, despite users often preferring centralized products. Lu explained that Drift, launched in 2021, was developed to enhance capital efficiency in DeFi by integrating various financial activities into a single, comprehensive trading platform. He highlighted Drift's rapid growth, evidenced by substantial trading volumes and deposits. The platform enables users to earn yields across multiple assets and offers innovative products, including prediction markets and a hybrid Automated Market Maker (AMM) model. Lu stressed that capital efficiency is crucial for mainstream DeFi adoption and outlined Drift's future objectives, which include expanding its product offerings and making DeFi more accessible to a broader user base through consumer-facing applications. ^[5]

Announcing DRIFT

At TOKEN2049 Dubai in April 2024, Lu, alongside co-founder Cindy Leow, presented Drift's advancements in decentralized finance and announced the introduction of the DRIFT governance token. They discussed the historical challenges faced by decentralized exchanges (DEXs) in competing with centralized exchanges, attributing these difficulties to limitations in user experience and constraints on blockchain infrastructure. The founders shared their journey from centralized trading to building Drift, which has become a leading perpetual exchange on the Solana blockchain. They reiterated their commitment to creating a fully permissionless trading environment that still offers the flexibility and user experience traders expect. The introduction of the governance token was highlighted as a step to empower users and align their interests with Drift's ongoing development, reinforcing the protocol's dedication to decentralization and innovation in crypto trading. The session concluded with a Q&A segment, addressing community questions regarding liquidity mechanisms and risk management within the Drift trading environment. ^[6]

Panels

Market Structure

Lu moderated a panel discussion on the evolving structure of the cryptocurrency market at TOKEN2049 Singapore in October 2022. The panel featured industry experts, including Paul Kremsky from Cumberland, Philip Gillespie of B2C2 Japan, and Thomas Uhm from Jane Street, who provided insights from their diverse backgrounds in traditional finance and crypto trading. The discussion focused on recent macroeconomic shifts affecting tech and crypto markets, with a strong emphasis on the importance of robust risk management in an environment of rising interest rates and increased credit risks, particularly in the wake of credit contagions that have affected entities like Celsius and Terra.

Panelists also addressed regulatory challenges, emphasizing the need to strike a balance between fostering innovation and protecting consumers. They explored the ongoing evolution of product offerings and liquidity mechanisms within the cryptocurrency space, underscoring the critical role of reliable credit intermediaries and the potential for accessing innovative financial products while navigating market complexities. ^[7]