It says on the bottle that its Chain and cable wax. Its worked great for me, a silicon based lube would work also.Curt said:Lots of people use motor oil. Personally I prefer grease (like white lithium grease) because over time, oil can soften the outside part of the cable. I also think that grease stays in there better and lasts longer.
I had never heard of using chain wax, but I'll bet that it would work great.