Is all topical finasteride made from liposomal and what are the side effects associated with this?

Here’s my take on your questions:
Topical finasteride doesn’t need to enter the bloodstream as much as oral finasteride to work, but a small amount can still get absorbed. The goal is for it to mainly act on the scalp, reducing DHT levels locally to help stop hair loss, which lowers the risk of side effects compared to the oral form.
If you’ve had sexual side effects with a liposomal version, switching to a non-liposomal formula might help. The liposomal formulation is designed to enhance absorption, which could mean more finasteride in your bloodstream and a higher chance of side effects. A non-liposomal version might result in less absorption, so the side effects could be less intense, but I can’t say for sure that it would completely prevent them.
Not all topical finasteride uses a liposomal base. There are other formulations, like those with alcohol or propylene glycol, that can still be effective. The difference lies in the absorption and side effect profiles.