No..... not that sort of waxing .....
Lately I've been doing
this Perfectly SFW.... honest.
The only thing I have found to take issue with is the idea of freeing up the links by running them over a wooden knob
Minds out of the gutter please - 16:05 in the video.
I've found that takes the wax off the edges of the outer plates, which then go rusty. So I came up with this:
recycling jockey wheels from dead RDs
and the tapered nuts from V-brake pads, as stand offs to keep the wheels away from the board.
The white flicks are tiny bits of solidified wax that come off the chain, and can be removed with a soft paint brush.