Alliance DAO Co-creation Bet: Can Layer 1 tokens outperform the stock market over ten years?

【Blockchain Rhythm】Alliance DAO Co-founder QwQiao recently said: If anyone believes that their carefully selected Layer 1 token portfolio can outperform stock indices over the next decade, he’s willing to take that bet.

It sounds bold, but his reasoning is worth pondering. Many people’s obsession is that growth equals making money, and making money equals rising token prices. Is that really the case?

Looking back at history, you’ll see the pattern. Airlines see passenger numbers explode year after year, but their profits are painfully thin; the restaurant industry opens new stores rapidly, but also closes even faster. Conversely, some old-established companies have stagnated in growth, but they raise prices and still make quiet profits.

What about the blockchain track? QwQiao’s judgment is straightforward: growth is certain, but competition will drive profits down to rock-bottom prices. This isn’t a red ocean fight like the restaurant industry, but it’s definitely not a market where a few giants can sit back and relax. Layer 1s are now competing over technology, ecosystems, and subsidies; in the end, who can truly keep their profits?

This may sound pessimistic at first glance, but upon closer thought, it’s a reminder—don’t just focus on TVL and trading volume numbers, but look at who can turn competitive advantages into real cash.