Panic Necklace

The Panic Necklace is an accessory that grants the wearer the Panic! buff for 8 /  5 seconds when harmed by any source of damage besides fire blocks. The buff increases movement speed by 50%. The Panic Necklace can be found by smashing Crimson Hearts in the Crimson biome, but it can also be obtained by opening and  which are obtained by fishing in the Crimson. On the, it can furthermore be crafted.

Tips

 * The Panic Necklace is especially useful at the beginning of the game if Hermes Boots (or their upgrades) have not been obtained, as damage taken will provide a great speed boost.
 * If paired with a Sandstorm in a Bottle, the double jump from it will go much farther than usual for the duration of the Panic! buff. This can serve as a very fast movement option, but ideally should be paired with a means of negating fall damage.
 * The speed boost can be triggered artificially, which can be quite useful, e.g. in boss fights.
 * The damage taken to trigger the buff should be kept as low as possible, which can be achieved with a Slime Statue or Spikes. ( Note that Spikes inflict the Bleeding debuff, blocking natural health regeneration.)
 * Firing at the ground under the player's feet with a Wooden Bow and Hellfire Arrows should deal minimal damage.