Quick answer: Liquid Notes is a songwriting assistant software that further extends the possibilities of a DAW (when it comes to managing chords or chord progressions), rather than replacing it. Read more below.
How Liquid Notes differs from a DAWA digital audio workstation (DAW) is an electronic system designed solely or primarily for recording, editing and playing back digital audio. Modern DAWs are software running on computers with audio interface hardware and tend to have a standard layout which includes transport controls (play, rewind, record, etc.), track controls and/or a mixer, and a waveform display. MIDI recording, editing, and playback is incorporated into most modern DAWs of all types, as is synchronization with other audio and/or video tools. Recording and editing can be done per track or on multiple tracks simultaneously.
Unlike Liquid Notes, DAWs do not provide any musical analysis of chords or chord progressions, or other harmonically constituting properties. Liquid Notes communicates with any DAW via an internal “piping system” (the IAC bus on a Mac, or LoopBe 30 on Windows) allowing for the analysis of content on MIDI tracks in a DAW, and creating an exact read-out of existing chords - providing standard chord symbols or a piano-roll view of the actual notes. The built-in technology of Liquid Notes provides the user with all the tools necessary to further control, change and extend any chord, or any succession of chords, without having to re-record (or input) the music again.