Since leverage yield farmers are also liquidity providers, the risk that comes with liquidity providing also exists here. This risk is called impermanent loss risk. This is when the price of one token inside the liquidity providing position increases in price in comparison to another token OR one token decreases in price in comparison to another token in your liquidity providing position. The larger the change, the more exposed you become to impermanent loss, which means less valuable asset at the time of withdrawal than at the time of deposit.
To understand better:
As leverage yield farming involves borrowing assets, the risk of liquidation is a possibility. This is when the value of the collateral asset is less than the value of the borrowed asset. For Homora V2, the LP token for liquidity providing is actually the collateral. For instance, since the price of your assets inside the liquidity providing position can change due to price fluctuation, therefore when the value of the total liquidity providing position decreases to a certain threshold, or a position that only has a small buffer between your collateral value and borrowed value, this allows liquidation to take place.