Variant: Three types of L1 assets are highly likely to become the primary store of value
This article proposes the Variant investment framework: dividing tokens into value storage (SOV) assets and equity instruments, with L1 as the core analysis target. Evaluation factors include technological durability, scarcity, censorship resistance, economic productivity, memetics, and liquidity. BTC, ETH, and ZEC are regarded as the most promising SOV sovereign assets. Although the SOV market size is large and growing rapidly, its proportion remains low, presenting significant opportunities.