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[Alliance DAO Co-Founder QwQiao: Won't Short L1 Tokens but Considers Them Not High-Quality Investments] Alliance DAO co-founder QwQiao stated on the X platform that they will not short L1 tokens but believe that L1 tokens are neither 'high-quality investments' nor 'terrible investments.' QwQiao mentioned that every asset currently held possesses a lasting competitive advantage and operates in fields with exponential growth. He previously pointed out that L1 tokens lack a moat, are prone to commoditization, and struggle to capture real value, suggesting that betting on the application layer might be the way forward.