Father-Son 1974 Duster Project
It’s an anti oxidant compound. Mostly used where aluminum wire is physically connected with copper to prevent aluminum oxide oxidation.
Dielectric grease imho is worthless in a low voltage automotive environment.
Noalox will prevent all oxidation in a connection by keeping moisture and air out of the connection. That white-greenish crusty stuff won’t form on the spades or sockets with noalox on the connection
I wouldn’t have a socket connection in the car plugged together without noalox.