TL;DR: The most "risk free" way to LP is to only enter pools with highly correlated assets -- the most obvious example is stablecoins, like USDT and DAI, or ETH and sETH, wBTC and rBTC, etc. That way, you get all the rewards/fees from being an LP, with little to no impermanent loss.The potentially worst idea is to LP in a pool with highly uncorrelated assets For assets that are highly divergent, when one goes up, the other goes down. As an LP, you want a minimal amount price divergence. But, even if the 2 assets in the pool diverge significantly for a long period of time, if they eventually normalize, the impermanent loss will disappear (hence, the 'im'-permanent).For example, BTC:ETH pool, where ETH does a 5x. You'll see a huge IL, but if months later BTC also 5x's, that IL will go away and you'll see a proper 5x on both assets, plus all your rewards/fee gains. That's the ideal situation, since volatility in a pool leads to more trades and more fees, but the risk of the impermanent loss becoming permanent is higher.