Originally Posted by zonatandem

Remove chain. Soak in either kerosene or citrus based cleaner; then dry it with rag.
Put some canning wax in a big old coffee can and put it on an heating element (NOT inside the house as it can smell up and smoke up the place). Drop chain into the melted wax in coffee can. After a few minutes of 'cooking' chain, remove (carefully!) with pliers and hang up chain to drip dry.
Re-install chain. For the first couple days there will be some flakes of wax on chainstay area. The idea is to get the liquid wax into the pin/rollers area of the chain for smoother operation. Works fine in a DRY climate.
Currently have 6,500 miles on chain on our tandem and have redone waxing only once but will do it again shortly.
When grabbing chain with bare hand, there is NO oily gunky mess as with some other lubricants.
Been using this method for 30 years.