it's used for keeping salt water out of bearings.
Correct me if im wrong. The bearing needs to have a magnet or magnetized field around it?
That appears to be the case. I wonder what the bearing material will be to facilitate the magnetic field.
It looks like they are CRBB bearing-- I guess they have a lower nickel content that allows them to be magnetized?
Edit: Or maybe not.. Looks like the "membrane" is magnetic.
"Mixing a liquid with iron isn’t easy, but Daiwa has mastered it in the Certate and Saltiga range. When dispersed evenly through liquid, the iron oxide (magnetite) has a diameter of 1/100,000mm, so small that the surface area of the ferromagnetic particle is around 1/10th of a single influenza virus. This new metallic grease/oil takes on a new effect, placed by itself it forms a typical liquid helical shape with the introduction of a magnetic force it changes shape similar to the android in Terminator II, attaching itself to any other metal to form a seal. So strong is this magnetic liquid that if placed in a container with a magnetic surface it would retain its shape even if the bottom was removed. Being magnetized this lubrication system avoids any friction and prevents dust intrusion, eliminating oil spray and significantly improving reel life expectancy. The challenge for Daiwa was to utilise the inherent benefits of magnetic liquid in reel design. Instead of it being used to dustproof, we needed something that was waterproof. Innovative design combined new CRBB bearings with a magnetic oil membrane and making it possible. Water intrusion is now a thing of the past."
Source:
http://daiwafishing.com.au/?p=10485