Alliance DAO co-founder: Will not short L1 tokens, just believes that L1 tokens are not a quality investment

Alliance DAO co-founder QwQiao stated in a post on platform X that they will not short L1 tokens, but they cannot convince themselves that they are "great investments." However, L1 tokens are also not considered "bad investments." With thousands of assets to choose from, there are always some quality assets to be found. QwQiao claims that every asset they currently hold has a lasting competitive advantage and operates in exponentially growing fields.

QwQiao previously pointed out that L1 tokens lack a moat, are easily commoditized, and struggle to capture meaningful value, suggesting that betting on the application layer may be a way out.