downgrade ? but if downgrades, its unuseless ..... or not?

any1 can tell me the use of this item ? http://imageshack.us/photo/my-images...0910183104.jpg

can some 1 tell me what are all those cuz i dont know the language and am kinda new in game =S


ups + picture http://imageshack.us/f/3/unledoym.png/

Its a key for unlocking chests

(left to right)
1. Crafting
2. Crafting
3. Crafting
4. Quest book
5. Crafting
6. A lever for the dungeon next to Korin Village
7. Crafting
8. Crafting
9. Popo stone for reviving others
10. Teleports you to your respawn point

i know its some kinda gold bar, but whats it for please?

Crafting

ah, alright, thanks

ok what this ring does?
and also wanna know what is item right from ring?
http://imageshack.us/f/855/unled2yqv.png/

-5 energy defense and +59 defense rate, i don't really know what defense rate means cause there is some gears + 250 u.u but i think it affects the chance of block attacks maybe

tnx man ... i tought it is smt better =D