"Moly" is the abbreviation for molybdunum disulphide, a space-age high pressure lubricant. It was developed for extreme pressure lubrication requirements and for that use excels over most conventional greases.
When applied to steel surfaces, it tends to imbed into the pores of the surface at the molecular level to increase the slickness of sliding and direct contact points. Gun mechanism sears is an example of where it's lubricating qualities excel.
The usual way to apply moly is as a grease in a carrier material. Automotive wheel bearing moly grease is an example. It can also be sprayed on, and the carrier evaporates leaving a moly coating to do it's work.
There is an proviso to using moly: several years ago, it was fashionable to tumble coat moly onto jacketed bullets before loading. The claimed velocity improvements were modest, but not long after, it was discovered that the moly imbedded itself into the barrel steel pores, result in very difficult cleaning, and worse, attracted moisture and rusted barrels. This may not be a problem if you are using it for lubrication, but be aware that the problem did exist for gun barrels.
