Many DEXs today claim to be decentralized but are actually centralized in most aspects besides custody. From restricting access to certain user demographics, retaining proprietary control over exchange infrastructure, to even requiring KYC in some cases, every central limit order book DEX that we have seen has centralized components that subject traders to the will of some omnipotent authority. This is the fundamental problem that Injective solves.
The common rationale against full decentralization is that efficiency and user experience are sacrificed. We at Injective reject this notion and have committed ourselves to the vision of a highly performant, permissionless, and fully-decentralized exchange protocol.