I am still experimenting with waxes for hot dipping, following the "Oz Cycle" video:
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But not using Xylene because it sounds a bit nasty.
I tried some candlewax and lamp oil but I think I needed the mixture a bit more squishy. Has worked well on the single speed commuter, left outside during the day in all weathers at work for a few weeks now, chain clean and quiet. Not so well on the geared road bike, used less and sounding a bit dry now, maybe the changes in chain angle squish the wax out more. But lasted longer than a squirt of other lube would.
Had less luck with the squirt on stuff, always solid in this weather so needs a hairdryer. Using Coleman stove fuel as the volatile additive.
Also, try searching ebay for "low melting point wax". But not at work!
finish line wet lube
Chain-L.
Used to use "wet" lubes like muc off but found that badly gunked up the drive train.