I did almost the same to make a finish for my stamping table I made. It is 1/3 boiled turp., 1/3 boiled leanseed oil and 1/3 Bees wax. It smells the same as paste as you buy in Home Depot. It works really good, it protects from any spills. I did not boil the turpentine by the way. I purchased it that way from HD. I only melted the wax with a pot of boiling water and a bowl on top of the pot. They also sell boiled Leensead oil at HD, it is to dangerous to boil the turp. or the leenseed oil.
Jim