Exactly what kind of compound/mixture is used I have no clue, but it certainly has unique qualities about it (kind of like silly putty). While half an ounce doesn't seem like much, it's actually quite a bit considering you only need one drop on each foot and 2-4 (depending on the size) on the pad. Similar to ethyl alcohol, Mouse Wax dries seconds after you smear it on. Being water based and non-toxic is also a plus, along with the lack of any kind of odor. Although it's intended for use with gaming/plastic mouse pads, it also works on other surfaces (like cloth pads for instance), though not as well.