#Layer-1网络发展 The recent development of Layer-1 networks is truly dazzling! After reading the views of Alliance DAO co-founders, I find them quite reasonable. Indeed, current L1 public chains lack a moat, and both users and developers can easily switch, making it difficult to capture long-term value. However, chains like Solana and Base are trying to verticalize and control the application layer, which is an interesting direction.

As for emerging L1 projects, tokens with high FDV and low circulation like Monad do carry significant risks. Arthur Hayes mentioned it could plummet by 99%, and I think there's some truth to that. After all, most projects with this model have a hard time avoiding disaster historically.

That said, for us yield farmers, these kinds of projects can actually be opportunities in the short term! The key is to seize the right moment—buy early and sell early. I suggest everyone keep an eye on Monad's token unlock schedule and prepare in advance. Of course, in the long run, the focus should still be on mature mainnets like Bitcoin and Ethereum. After all, Arthur Hayes also said that only a few Layer-1s will survive in the end.

In summary, for the Layer-1 track, we need to stay vigilant but not miss opportunities. Pay close attention to the ecosystem development and token economics of various chains to gain an edge in this fierce competition!