Shimmer Well

“Legends say that my uncle is still down there... I mean, the powers of this well are of a nature that remains incomprehensible to this day.”

Inspired by the Shimmer from the game Terraria, this potion allows you to transform one item into another.

You can build only 1 Shimmer Well per map; it is crafted using the Wizard’s Magic Book and costs 100,000G and 75 stone.
You can throw any item (except tools) into the well and receive a new, random item.
You can only throw one item into the well per day, but you can use a Prismatic Shard to upgrade the well’s capacity to up to three uses per day.
The well can also drop any item from the mods you have installed. Since it's random, you might get the best item in the game just by throwing a rock (though it's purely a matter of luck).

By default, a 7-day blacklist is applied, during which the item you drop cannot be dropped into the Well again (to prevent you from always getting better items with just a stone). However, you can change this in the GMCM options.

That's all. Remember that you need GMCM to see the mod's options, and that luck is the main factor in this mod, so it's impossible to say whether it's unbalanced or not (for my part, I did my best to make sure it wasn't).

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JP's Shimmer Well - Item Transmutation