I don't like the launch pool since it just provides you small profit and the worst part is getting an impermanent loss which is very annoying when you just want to get profit for the liquidity pool. And, I think it would be much better to earn crypto through staking, lending, or trading but of course, it needs knowledge and a required amount of assets before you can earn a lot of crypto.
Where would the loss be if you were to participate in the Launchpool with one of the stablecoins? The loss occurs when you participate in the Launchpool using the exchange's own volatile currency, which may cause financial losses if its price drops after the end of the Launchpool for one of the projects. It is worth noting, as @Makishart mentioned that large capital is required to achieve good profits; otherwise, you will end up with just a few dollars. Of course, in the stake as well, your capital is what determines the percentage of profits you will receive.
It is also possible to earn with our crypto by participating in airdrops offered by Web3 exchange wallets such as Binance and Gateio, etc., which usually ask for participation fees and whose profits are based on the number of participants, allocation, and the like. For me, trading is more profitable, but it requires good experience.