Lubing the belt? You want the belt to not slip, generally lubing the belt makes it slick.. Is your belt tight? Kings don't usually have static problems with there belts. IF you were going to put anything on it for static it would only be dry graphite dust. Same belt runs dry on mailing equipment many times faster. Static on a king is usually caused by a high frequency vibration. cure the vibration and the static goes away. Carbon fiber boom on the king is prone to this. I had a custom fiberglass boom that I made and had static and glitching problems beyond your wildest dreams.
Tie it down to a bench and run it up to its flying speed and watch for the disk or rotor to suddenly change in speed or appearence, also watch the servos if your getting glitchs you usually see in your servos under the head twitchin. If your speed control is cutting out it will also do what you are experiencing. there has been problems in the past with the 3100 motor and the esky speed controls. Usually if you replace the speed control with a NON esky one of about 25-30 amp it cures most problems.