Even though blockchain technology and smart contract have made a lot of progress in the last few years, they are still experimental tech. Hence, using the Glow protocol and any other app that is based on smart contracts intakes substantial risks of losing part or the totality of your funds.
The Glow team and community members have years of experience in the space and have followed the most strict practices to mitigate these risks. Moreover, Glow smart contracts are written in CosmWasm which includes multiple security improvements over dapps relying on Ethereum smart contracts. You can read more about it here (link cosmwasm article).
The two categories of protocol risks are external protocol risks and smart contract exploit risks.
External Protocol Risks
Glow is built on top of other protocols such as the Anchor money market to programmatically redirect its yields. If Anchor were to fail or be exploited, the Glow apps relying on it would be affected. To mitigate that risk, Glow will integrate only with reputable and audited smart contracts. Anchor is an example of this.
Smart Contract Exploit Risk
Even if Glow smart contracts have been audited and follow secure development practices, there is always a non-zero probability that a bug or vulnerability might be exploited. This is a risk shared with any smart contract-based product. To mitigate this risk we have done professional audits by the leading security team in Terra, following secure development practices, extensive code testing, implementing bug bounty programs.