By wax we mean (well I do anyway) spraying chain wax on just like you do lube. It comes in a spray can and is clear. I don't use lube because it splashes all over everything when you ride and the wax doesn't. I even tell the dealership when they service the bike to use ONLY Chain Wax.
Correct method is just like the lube. Ride the bike at least 1 mile to get the chain warm, spray it on and let it dry and sink in. Actually, I do this on the road and only let it sink in while I drink a bottle of water when traveling. Makes the chain EASY to clean also.
Must work, I generally get over 17,000 miles from a chain and I only have to change them then because they have streached too far !