QwQiao, a co-founder of Alliance DAO, raises concerns about the stability and long-term viability of Layer 1 (L1) public-chain tokens. He argues that these assets lack enduring competitive advantages due to easy interoperability between chains, rapid development cycles, and a growing availability of alternative platforms. QwQiao cites the ease with which users can move their assets across different chains as well as the proliferation of new blockchain projects as evidence against the long-term value of L1 tokens. He believes that applications built on these layers create more sustainable value than just relying on basic tokenomics, and that this focus is essential for building strong ecosystems. This view contrasts with some L1 token investors who believe in their long-term potential despite high prices and increased competition.