Will the combat system utilize the vertical space?

I wish it did. Give the tank/summoner an ability to create walls that people can jump on and attack from (like that transparent brick wall in one of the eaaaarly trailers). Make anyone with a shield have the ability to kneel and cover themselves with a shield, so that others could jump on that too.

I'd love that kind of vertical gameplay. Just jumping up and down seems silly to me in a game like Ashes.

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Dungeons, bby! A shitton of potential vertical design. Pretty much every L2 dungeon had some sort of verticality, some more than others. Ashes could have the same. And I'd bet money that most of open world (that is, non-event one) pvp will be happening in dungeons.