It may feel like cheating when you use liquid chalk, but it isn't. Chalk has been widely used for many years in gyms across the world.
The only difference between using liquid chalk and traditional chalk is that liquid chalk tends to last longer. Which can be beneficial for athletes who are training at a fast pace and don't have time between sets to chalk up.
It's important to note that liquid chalk is not a performance enhancer in any way, and is an approved substance in all sports. It has no effect on how much weight you'll be able to lift, but it will help you better control the weight so you can put more focus on your form and less time focusing on gripping the weight.
In fact, it's really just a way to keep your hands dry so you can get a good grip on the barbell or pull-up bar. Liquid chalk also helps prevent calluses and blisters by improving grip and hand strength over time.