As it says forms a wax type protection when it dries. It's the thing to use on tools especially when storeing or putting up . I use this on some high carbon steel knives, machetes, and bayonets that are generaly in a storage cabinet , and it works well . Am thinking about using it on some blued gun barrells due to high humidity problems . You can remove a thin coat by rubbing with a clean cloth but a thicker coat takes a little work , I have found by applying a little gun oil then rubbing off it is a lot easier . Don't know how it penetrates but can be used on on bolt threads to lube . I like it for surface protection on carbon steel .Stuff stays there too, not drying out or evaporating . Good Product.