This is useful when driving screws into hard or dense woods, or into material that is prone to splitting. The wax lubricates the screw threads into the wood. And using a Wax Ring can speedup work production.
The wax lubricates the screw threads, making it easier to drive the screw into the wood.
It reduces friction, making it easier to drive the screw in. It prevents the screw from splitting the wood.
It helps to prevent the screw from camming out. It increases the speed at which you can drive screws.
Less likely to cam out or strip the threads.
Too much wax can make the screw slippery and difficult to control.
Hard woods need wax to the entire length of the screw threads.