[Alliance DAO Co-Founder: Stock Index Will Outperform L1 Tokens Over the Next 10 Years] Alliance DAO co-founder QwQiao stated in a post that he is willing to bet that the stock index selected by him will outperform the weighted index of Layer 1 tokens over the next 10 years. QwQiao pointed out that most people mistakenly believe that growth equals profit and market capitalization growth, but historically, there have been industries with unprofitable growth or profitability without growth. QwQiao believes that while blockchain will grow rapidly, competition will drive down profits. Although the blockchain market is not perfectly competitive, it is far more competitive than an oligopoly.