Wu said that AllianceDAO co-founder QwQiao released a "Liquidity Moat" score, with blockchain at 3/10, top crypto businesses at 5/10; while 10/10 are Microsoft, Apple, Visa/Mastercard, TSMC, 9/10 are Google, Amazon, Moody’s/S&P/FICO, and 8/10 are Meta and NVIDIA. He also stated that "lacking a moat is not necessarily bad, but continuous innovation and iteration are required." In response, Dragonfly managing partner Haseeb countered, saying that Ethereum has maintained its throne over ten years despite being challenged by numerous competitors that have raised over $10 billion in total funding, which should reflect a moat. He cited that Apple’s global smartphone market share of about 26% is still rated 10/10, questioning the consistency of the blockchain’s 3/10 score.