My straight router bit came in a little plastic box that has a hole that the shaft of the bit fits into.
The other half of the bit (i.e. with the two cutting edges) was covered in some transparent gel. From the way the gel looks it is obvious that the gel was applied in liquid form and then cured on/around the bit.
I suspect that this gel is there to seal the bit from air, especially moist air, to prevent corrosion. Please correct me if I'm wrong.
Does it make sense to reapply the gel when storing the bit?
I found many images of bits being stored without such gels in simple wooden boxes. Does it depend on the bit? Hardening steel changes its properties possibly making it more prone to corrosion. Does it depend on the material of the bit?