Impermanent loss: This is the most common risk associated with liquidity pools. It occurs when the price of the two assets in the pool moves against the liquidity provider. For example, if you provide liquidity to a pool of ETH and USDC, and the price of ETH goes up, you will lose money because you will have to sell your ETH for less USDC than you originally invested.

Smart contract risk: Liquidity pools are built on smart contracts, which are pieces of code that run on the blockchain. Smart contracts can be hacked, which could result in the loss of funds.
Protocol risk: The protocol that the liquidity pool is built on could be flawed, which could also result in the loss of funds.

Liquidity risk: If there is not enough liquidity in the pool, you may not be able to withdraw your funds without incurring a significant loss.

Slippage: Slippage is the difference between the expected price of a trade and the actual price at which it is executed. Slippage can occur in liquidity pools if there is not enough liquidity to match your order.

Governance risk: The liquidity pool may be governed by a group of people who make decisions about how the pool is run. These decisions could affect your earnings or even lead to the loss of your funds.
It is important to carefully consider these risks before providing liquidity to a liquidity pool. If you are not comfortable with the risks, then you should not provide liquidity.