Huo Xing Cai Jing reports that on May 15, General Tensor announced the acquisition of Backprop Finance, a leading decentralized exchange within the Bittensor ecosystem by trading volume, from Tensorplex Labs. Following the transaction, General Tensor will account for approximately one-third of the total trading volume on the Bittensor network. Previously, General Tensor had raised a total of $5 million through Pre-Seed and Seed funding rounds, with investors including Digital Currency Group (DCG), Lvna Capital, and Good Morning Holdings, led by Lok Lee and backed by Goldman Sachs. Backprop Finance currently primarily facilitates trading of the Bittensor Dynamic TAO (dTAO) subnet Alpha token, offering token swaps and subnet filtering.
General Tensor Acquires Backprop Finance, Expanding Bittensor Network Coverage
MarsBitShare
Summary
General Tensor has acquired Backprop Finance, a leading-volume decentralized trading platform within the Bittensor ecosystem. This acquisition expands General Tensor’s reach to approximately one-third of the Bittensor network’s trading volume. Backprop Finance supports trading of the dTAO subnet Alpha token, including swaps and subnet filtering. The network upgrade will enhance cross-chain liquidity, with new token listings anticipated following integration.
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