General Tensor announced it has acquired Backprop Finance from Tensorplex Labs, bringing one of the highest-volume decentralized trading platforms in the Bittensor ecosystem under its ownership. The deal gives General Tensor control over roughly one-third of the network’s trading volume and positions the company for broader cross-chain expansion into the decentralized finance ecosystem.
The acquisition comes after General Tensor raised $5 million across its pre-seed and seed funding rounds. Digital Currency Group participated in the company’s pre-seed financing and later made a follow-on investment in a strategic round. Existing investor Lvna Capital also participated in the latest financing, alongside Good Morning Holdings, led by Lok Lee and backed by Goldman Sachs.
Backprop Finance operates as a trading terminal for Dynamic TAO subnet alpha tokens within the Bittensor network. The platform includes a dTAO swap terminal, subnet screening analytics, trader leaderboards, Realized PNL tracking for subnet owner sell activity, portfolio visualization tools, whale transaction alerts, and wallet monitoring functionality.
According to the companies, Backprop’s user base is heavily concentrated in Asian markets, where the platform gained traction through organic adoption among active traders. General Tensor said the acquisition strengthens its footprint in the region while expanding its infrastructure offerings tied to decentralized AI and digital asset trading.
Tensorplex Labs originally developed Backprop Finance as part of a broader effort to create financial infrastructure for the Bittensor ecosystem. Under Tensorplex’s ownership, the platform became a leading trading venue for dTAO tokens.
General Tensor stated that the transition was structured to avoid disruption for existing users, with all platform features, user data, and portfolio tracking carrying over automatically. The company also said it is dedicating a full development team to Backprop Finance to improve the user experience and introduce new platform capabilities.
General Tensor describes itself as a vertically integrated infrastructure provider operating across blockchain, AI, and data centers. The company develops and acquires decentralized AI infrastructure designed for traders, developers, institutional allocators, and autonomous AI agents.
Tensorplex Labs is a Singapore-based decentralized AI lab focused on applications, infrastructure, and tools supporting AI development through decentralized technologies, with products spanning decentralized finance and collaborative intelligence infrastructure.
KEY QUOTES:
“We evaluated a number of opportunities in Bittensor before backing General Tensor. What separated them was execution discipline — they don’t just hold a position in this network, they built a valuable infrastructure platform. General Tensor is doing what the best infrastructure companies do, they’re building, consolidating and integrating key components of the ecosystem.”
Lok Lee, Managing Partner, Good Morning Holdings
“Our goal with Backprop was always to provide the Bittensor community with the best user experience to trade digital supercommodities. It was vital to find a steward who shares the same vision as us.”
“General Tensor’s track record, particularly their stewardship of the General Tensor (RoundTable21) validator, underscores their deep commitment to the Bittensor ecosystem. This transition ensures Backprop remains a neutral, high-performance utility that the entire community can rely on.”
Darwin Liew, Co-Founder, Tensorplex Labs
“Tensorplex built the strongest trading product in Bittensor. This acquisition represents a critical puzzle piece in our portfolio of assets as a driving force for network utility and adoption in the Asian market.”
“The backing from Lvna, DCG, Goodmorning Holdings, and our earlier rounds goes directly into that buildout.”
Mike Grantis, CEO, General Tensor
