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 (February 2016):

LIB
       Linear Incremental Backoff (CSMA/CD, BEB)


The Free On-line Dictionary of Computing (30 December 2018):

lib

    Library.  In Unix, the directories /lib
   and /usr/lib traditionally contain files with filename
   extension ".lib" that are special archives containing
   modules of standard object code.  In modern Unixes the same
   directories contain ".so" (shared object) files, which are
   similar except that the object code they contain is designed
   to be loaded once and shared by all application code that
   needs it, thus saving memory.

   (2008-11-25)