Alliance DAO co-founder clarifies: We do not short L1 tokens, we just believe L1 tokens are not considered high-quality investments.

Jinse Finance reported that Alliance DAO co-founder QwQiao stated on the X platform that he would not short L1 tokens, but simply cannot convince himself that they are “great investments.” However, L1 tokens are not considered “bad investments” either. With thousands of assets to choose from, it is always possible to find some quality assets. QwQiao mentioned that every asset he currently holds has a lasting competitive advantage and operates in a field experiencing exponential growth. QwQiao previously pointed out that L1 tokens lack a moat, are easily commoditized, and have difficulty capturing meaningful value, suggesting that betting on the application layer might be the way out.