Cobalt Shield

Removes knockback when you are damaged (Meaning you will not fly back when you are hit by enemies.) This makes it good for fighting enemies near sudden drops or lava. It is particularly useful for dealing with Meteor Heads at Meteor sites and Bone Serpents in the Underworld.

Also gives an additional 2 defense. This has no relation to Cobalt Armour and is not part of the set. The Cobalt Armour set has been replaced by Jungle Armour as of version 1.0.3. This can be useful when using Rocket Boots as you can fly out of caves or Chasms without being knocked back.

Found in chests in dungeons.

The defense effect can be stacked a total of 5 times with 5 different Cobalt Shields, for a total of 10 defense.