Alliance DAO co-founder: L1 token lacks a moat; while not short-selling, it's not exactly a high-quality investment.

Odaily Planet Daily reports that Alliance DAO co-founder QwQiao clarified in an article on X that he will not short L1 tokens, but also cannot consider them a "good investment." He stated that L1 tokens are not "bad investments," but with thousands of assets to choose from, it is easier to find truly high-quality assets with sustainable competitiveness.

QwQiao points out that the L1 track lacks a moat, is easily commoditized, and makes it difficult to capture meaningful long-term value. He believes that betting on the application layer may be a more certain direction, and states that his current assets all possess long-term competitive advantages and are in an area of exponential growth.

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