40% of damage is converted to Arcane (scales off base weapon stat or INT, whichever is higher), and hits inflict Frostburn, dealing 8% Ice damage per second for 2s.
Or with weapon stat if it provides more damage
Active Item (not sheathed)
Sword, Rapier, Fire Staff, Life Staff, Spear, Bow, War Hammer, Greatsword, Musket, Hatchet, Great Axe, Ice Gauntlet, Void Gauntlet, Dagger, Blunderbuss
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