it is the short way of saying masterbate. it can also be said as m.bating as in masterbating.

Marginalized Orientations, Gender identities, And Intersex. it’s meant to be an all inclusive umbrella term for asexuals, homosexuals, multisexuals, trans people, and intersex people. Alternative to LGBTQIAP+
Alternative to MOGII, easier to pronounce.

Short for masturbate

Others, (mbating; masturbating) and (mbated; masturbated)