You can get massive EXP, gold and SP every time you defeat a monster in the Elite Challenge. SP can be used to upgrade passive skills. The more stages you clear, the more rewards you will get.
How to get equipment
Equipment is obtainable from:
1) You have a chance to get blessed equipment when you kill the monsters in the wild.
2) You can spend gold to get refined and boosted equipment from the Goblin Workshop.
3) You can get equipment by killing BOSS.
4) Create a party to challenge Demon Abyss to get equipment.
5) The best and easiest way to get equipment is through the Treasury. You may even get the ultimate rings and necklace with 2 blessed stats from the Treasury!
Refine: The success rate of refine is 100%. Higher refined level grants higher stat. When you refine the equipment to a certain level, it will become extremely reflective and you can even unlock set stats for it.
Refine Transfer: When you get a better piece of equipment, you can spend gold to transfer the Refine level from the previous equipment to a better one.
Boost: You can use Obsidian to boost your equipment. However, there is no available way to increase the success rate currently, so you are not recommended to boost the inferior equipment!
Equipping the wings for your character not only enables your character to fly, but increases DEF and the damage dealt greatly.