Rocket Boots

Information
Rocket boots are an accessory that, when equipped, allows the player to hold jump and fly upwards by holding the jump button.

You can fly for as long as you have mana. To fly you must double-jump and hold the jump button (If Cloud in a Bottle is equiped, you must use its effect first and hold the third jump). If you run out of mana the boots will stop functioning and you will fall. A player with 200 mana can fly around 164 feet vertically, if wearing meteor armor or cobalt armor, this is increased to around 300 feet (roughly 10 seconds of flight). With a Shiny Red Balloon equipped, the vertical height can be further increased to over 400 feet. Mana will not regenerate as the boots are being used, so mana-regenerating accessories will not affect flight duration. However, having numerous mana-replenishing potions can help for an almost-unlimited flight (since potions can be used roughly every 12 seconds).

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Another use would be that the light from the flame trails can also be used to spot ore through cave walls, though it wouldn't be recommended for mining without alternative forms of light, as you would have to keep moving.

Rocket boots can be found as rare drops from any Goblin during a Goblin invasion. It has been confirmed that they can be found in dungeon chests and on floating islands.