I don't like using wet lubes on my folders.
I started off using Graphite powder lubes, but they have a tendency to gum up and get messy when wet, so I have recently moved on to a product called Lab Lube. Its a PTFE ( Teflon ) powder lube. It doesn't gum up. You just puff a little bit into the pivot, move it around, and then blow it out with some compressed air. I used a can of computer "duster". Works great. I find that it works especially well on KVT and IKBS knives.
When I absolutely HAVE to use a wet lube, I have generally found that the best lube for knives generally seems to be the high end lubes made for fishing reels ( i.e. Hot Sauce, etc ) Abu Garcia makes a really good PTFE reel lube in a grease form that I sometimes use on my heavier duty hard use type folders.
Just my $0.02.
Haven't heard of LB, but it sounds interesting