I found this great recipe for making Paraffin Wax cakes to be used on your thread and/or lace. I cannot take any credit for the recipe. I will post the recipe below and you are more than welcome to proceed on your own. If you feel that you are a visual person (like me), I will be posting pictures of some of the steps described in the information.
MAKING PARAFFIN CAKES
In lieu of beeswax, below is a recipe for making paraffin wax cakes for thread and lace. Paraffin wax can be purchased at your local grocery store in the canning section; it comes in a large block to last anyone many years.
Cupcake paper cups
The following is the process for making paraffin cakes. It is best to do this during the evening hours.
Start out with a muffin or cupcake tin. Place your paper cups in 6 of the cups. Take your paraffin wax (about 2 square blocks) and with your large knife cut the wax into small chunks. Place the chunks of wax in each of the muffin tin cups just above the ridgeline of the cups. Safety note: Place the cupcake tin on a baking sheet with warm water. This will prevent a fire should your wax spill over while in the oven.
Carefully place the muffin tin & baking sheet in your oven. Turn the oven to about 250° and after approximately 5 minutes check on the progress of the melting. From this point on, keep a close watch on the pan until all of the wax has melted in the muffin tin cups. It should appear like clear liquid with no chunks visible.
Once the wax has fully melted, turn the oven off and leave the tin in the oven. The next morning remove the tin tray and pop it into the freezer until the tin becomes cold. Remove the tin from the freezer and take your cups. If you encounter some difficulty, they should pop out onto the counter.
Side note: As you use up the wax you will develop all sorts of thread/lace cuts in it. This can easily be fixed by placing them back into a muffin cup in the tin and repeat the process to make them perfect again.
You can also make a batch of 50/50 Paraffin & Bees Wax for trial purposes.
You will find that the paraffin wax will be slicker. Once you apply it to the thread or lace, take a piece of heavy duty canvas or brown paper and burnish the thread or lace. This process should take care of the flakes of wax left over from the application. Once you have completed your project, take a rag and rub the thread or lacing to remove any flakes. For stubborn waxy flakes, you can deploy a hair dryer, which should quickly melt down the flakes. Wipe the project down with a rag.
The paraffin wax is also good for lubing your stitching awl. This is accomplished easily by stabbing (carefully) your awl into the wax cake.
If you want to have a stickier/more water resistant wax on your thread or lace, it is suggested that you use bees wax muffins (for lack of a better term). You will not get the flaking as with the paraffin wax.
Recipe and process are used with compliments & permission from the author Cathy S. (Northern California)