The Collaborative International Dictionary of English v.0.48:

Lib \Lib\ (l[i^]b), v. t. [Cf. Glib to geld.]
   To castrate. [Obs.]
   [1913 Webster]

V.E.R.A. -- Virtual Entity of Relevant Acronyms (June 2006):

LIB
       Linear Incremental Backoff (CSMA/CD, BEB)