Alliance DAO co-founder clarifies: We will not be shorting L1 tokens, but we simply believe that L1 tokens are not considered quality investments.

Golden Finance reported that Alliance DAO co-founder QwQiao published on the X platform stating that they will not be shorting L1 tokens, but they cannot convince themselves that they are a kind of “great investments”; however, L1 tokens are not considered to be “bad investments” either. There are thousands of assets to choose from, and it is always possible to find some quality assets. QwQiao stated that every asset they currently hold has a lasting competitive advantage and operates in a field of exponential rise. QwQiao previously pointed out that L1 Tokens lack a moat, are easily commoditized, and find it difficult to capture meaningful value, suggesting that betting on the application layer may be a way out.