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Alliance DAO Genesis: It is hard to convince oneself to hold the L1 token long term, as there is no "Moat."
BlockBeats News, November 28th, Co-founder of Alliance DAO, QwQiao, posted on social media, saying, "The reason why I find it difficult to convince myself to hold L1 layer public chain tokens for the long term is not because of their high Price-to-Earnings (P/E) ratio, but because they lack a moat. Without a moat, they will be commoditized and unable to capture meaningful value."
"Nowadays, users can easily transfer assets across chains. Apart from a few complex smart contracts, most application developers can quickly migrate from one chain to another. Moreover, launching a new chain is easier than ever before. The switching cost of blockchain is far less than infrastructure like AWS."
"The only way I currently see for a chain to strengthen its moat is to verticalize and control the application layer. My observation is that chains like Solana, Base, and Hyperliquid have already reached this conclusion and are actively advancing. Of course, emerging enterprise chains like Tempo are also doing the same."
"Believing in the exponential growth of the crypto industry is almost unquestionable, but the best way to express this view is by betting on the application layer."
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