Every single piece of gear dropped with have a random roll of Health, Mana, and Damage, based on the item level. The rarity of the gear will determine how many, and what types of enchantments the item will have.
Rare items have two or 3 enchantments. 
Enchanted items have one single enchantment.
These enchantments can easily be changed by Chantie the Enchanter at the Chronicon, at the cost of crystals and crafting materials. Give the item to her, and mouse over it to see all the possible enchantments. If you already have some good enchantments you’d like to keep, press the augment button and then click your chosen enchantment to make it stronger and lock it in place. If you want to get new enchantments on your item, press scramble, and that will randomize all but the locked enchantments on the item. You can repeat this process until you get all the enchants you want, and once you reach endgame, you can take it to Chantelle the Ancient Enchantress to augment enchantments beyond their normal limit at the cost of Memory Essence, a hard material to come by.
Ordinary, Enchanted, Rare, or any other type of item can be filtered out via the loot filter found in the options. The top part of the menu will determine which items are actually shown to you, and the bottom part determines which items will be automatically picked up by Radial Loot.
Unique
Unique items have special Unique Enchantments that cannot be re-rolled, but can usually be augmented. There is a large variety of unique items with different enchantments, some found from random drops, some from specific monsters, and some given as quest rewards.
The Sleepwalker’s Robe drops from the Sleepwalker in the Dormitory Storage Side Room, it has a unique frost damage enchant, and another unique enchant that causes you to release a frost nova when struck.
The Soul Blade is a unique Templar Sword that adds a chance to summon lightning ghosts on kill.
Golem Heart is a unique Accessory that causes your critical strikes to explode for Ethereal Damage.
And there are many more. A lot of Uniques like the Golem Heart are really good for leveling quickly.
A really cool thing about this game is that you can go to your Codex to see every single unique item, how many times you’ve looted them, and where you get them.
Legendary
On Heroic Difficulty above level 10 you’ll start finding Red Legendary Items. These are similar to Unique items, their legendary enchantments can’t be rerolled, but these are usually a lot more specific and powerful effects, sometimes making your entire build with a huge power spike.
Wolftooth Necklace makes your wolves apply a stacking bleed. 
Smoldering Gemstone makes enemies burn the ground on death.
Shranks Vindicator is a Shield that makes your thorns now deal much more damage in a nova.
Set
Every class has 4-piece sets each specializing in one of their skill trees. These sets alter the way some skills work, sometimes activating an entirely new build.
The Everspring set makes the Warden’s Pods stack infinitely and spawn little green tornadoes.
The ThunderCharged set makes Templar’s Avenger passive cast off of lightning satellites, dealing your thorns every 1 and a half second.
Not every set is a big build changer like that, there are a lot of simple ones for every class.
The Retaliator’s set will add 50% of your health and damage to thorns and taunt enemies every few seconds. 
Challenger’s set that makes champion enemies always spawn at shrines, it can also make challenge scrolls and unstable dimensions show up twice as often.
You can gamble with Tarot at the Chronicon for a chance to get any of the item tiers we’ve talked about, which is good for target farming if you have the crystals to spend.
True Legendary
Once you hit level 100 and start playing on legendary difficulty, you’ll start seeing the final tier of item, True Legendaries. These are just like normal legendaries, except their unique enchantment is really powerful, or at least really interesting.
Skull Mask gives you increased damage for each non-set item equipped. 
Gravity makes all satellites spawn in pairs and deal more damage.
Royal Armor converts Health and mana gained on hit to Health and mana regeneration. 
Heartstone converts all of your resistances into maximum health.
And there are many more. True legendaries can give you some of the strongest boosts in the game if build around correctly.
ChroniconDB is an extremely useful website that lists every single item in this game alongside the stats they can roll.
Gems
Gemma at the chronicon can socket your items for gems. Just mouse over this button to see what sockets you can get, and press it until you get what you want.
Here’s your gem Inventory where you can see all of your 7 gem colors, 3 types for each. Each of these gems have a different effect depending on what you socket them into.
Cube Citrine can give increased health on hit in weapons, fire damage in jewelery and maximum health in armor.
Sphere Larimar can give attack speed in weapons, pickup radius in jewelery, and lightning resistance in armor.
Star Hematite can give a bleed DoT on weapons, increased bleed damage on jewelery, and increased soul duration in armor.
And there are many more. These gems are really good for capping out resistances and any other stats you need in the endgame. I find that I switch out items too often while leveling to make socketing them worth it.
Drag your gems down here to upgrade them at the cost of crafting materials.
Consumables
Health & Mana Potions will restore health or mana on use. You’ll start getting a new tier of potion every 10 levels, and you can buy an infinite amount from Sarek.
Scrolls can be consumed to cast it’s spell. The most common one is the Scroll of return that opens a portal to the chronicon, that you can buy an infinite amount of at Sarek. Most other scrolls cast a skill that is useful in combat, like Magma Hydra, Healing Touch, and a lot more.
Elixirs will give you various buffs that can last from 15 seconds to 90 seconds. Some examples are Elixir of Haste that increases your movement speed by 15% for 15 seconds, Elixir of flames that gives you a chance to burn enemies on hit, and Elixir of the Steadfast that makes you immune to knockback and pull effects. I barely ever use scrolls or elixirs, and I normally have them off of my loot filter.
Transmutation
Theo at the Chronicon will be able to Transmute items, using several hidden recipes to transform your items. Let me go over some of the most commonly used and most useful transmutation recipes.
First of all, you can exchange multiple uniques or legendaries to reroll a random one. This costs 3 uniques or legendaries, and 5 true legendaries. If all sacrificed pieces are of the same slot, the new item will also be of that slot.
You can also exchange set items, using these Champion’s Crowns that you’ll start getting mid-game. Just trade in any set item and 30 champion’s Crowns to Theo, and he’ll give you a random other piece of that same set.
In the Mid-game you’ll also start collecting Prismatic Spheres, Cubes, and Stars. You can trade these prismatic gems in with any piece of gear and 30 champions crowns to permanently add a socket of that type, on top of whatever sockets the item already had.
There are a lot of other transmutation recipes, some for leveling, some hidden, some kind of useless, but I’ll let you figure that out or let you click on the link in the description that goes over every single recipe in detail.
The final thing you can do with transmutation is use these runes you’ll start getting from End Game dungeon anomalies at Mythic difficulty or higher.
First you’ll get Lesser Runestones that have various effects like class specific ones that increase the damage of certain skills, or how those skills function, and general classless runestones that give boosts for anyone, like making assault skills no longer cost mana. There are a lot of different runestones, once again I’ll link a steam guide that goes over all of them.
You
To attach these runes to your items, put your item and the rune in the transmutation table along with 50 champion crowns. Each item can only hold one rune. Once you put the rune in your item, the effect can be augmented at an Enchanter.
The slightly tougher Elite Dungeon Anomolies at Mythic or higher difficulty will give empty runestones as rewards. These empty Runestones can be transmuted with 50 champion’s Crowns and any item with a dark orange unique enchantment, to make this runestone absorb that enchantment so you can put it on your gear. If you absorb a True Legendary Item, you’ll be give a Greater Rune which you can only have 3 equipped at a time.
These runes are where the bulk of endgame Min-maxing comes in. There are so many options for Lesser runes, and you can take almost any item in the game and turn it into runes to make room for more important gear like set pieces.
There is the guide for Items in Chronicon. I really like this game, I think the whole progression systen with Mastery Levels and Gear has been masterfully crafted by someone who knows what makes Action RPGs so much fun. It feels like a sandbox game, where the creator has given us hundreds of super cool items, and the freedom to do whatever we want with them, even absorbing them and putting them onto other pieces of gear. Hope this was able to help, thank you for watching, and have a great rest of your day.
smattymatty 