Hot paraffin is what we've used for the past 300,000+miles on all our chains (since the early 1970s).
Have gotten up to 8,000 miles on 9 speed tandem chains without re-waxing.
However, we do live in a very dry climate (Arizona); although we have little rain, we have a big amount of blowing dust which can raise hell with chains that are using wet lubes.
Works for us!
Rudy and Kay/zonatandem