Probably; you wouldn't have to do so much maintenance.
Wax fills in all of the voids between the bushings, roller pins, etc - so it physically prevents dirt from getting into your chain. And since there's no oil to cause the dirt to stick to your drivetrain, your gears don't wear down as quickly (as oil / grease + dust is abrasive; each rotation wears the chain and rings down ever so slightly).
Wax fills in all of the voids between the bushings, roller pins, etc - so it physically prevents dirt from getting into your chain. And since there's no oil to cause the dirt to stick to your drivetrain, your gears don't wear down as quickly (as oil / grease + dust is abrasive; each rotation wears the chain and rings down ever so slightly).