https://techcrunch.com/2020/12/03/as-crypto-comes-back-binance-backed-injective-protocol-launches-testnet-for-its-defi-trading-platform/

Decentralized exchange protocols that allow crypto traders and investors to trade across different blockсhains have been in development for a while. A significant new development now comes with the launch of the ‘Testnet’ from Injective Protocol. Injective has been backed by Binance, one of the biggest centralized exchanges in the Crypto world.

Injective Protocol is one of the first universal ‘DeFi’ (Decentralised Finance) protocols for cross-chain derivatives trading, so the launch of the testnet is an important milestone. Injective’s main competitors (centralized and decentralized exchanges) include CME Group, BitMEX, LedgerX and OKEx among others.