This is an upcoming feature. Please do not add any info unless you can prove it yourself.
The Pit is a new area coming to Vesteria soon. Not much is known about it, but it is known that the new upcoming boss Possum will spawn here. The pit will have a metal grid on top of a lake of acid. This makes fighting the Possum extremely dangerous and much harder because not only do you have to deal with the Possum's attack, but you also have to watch out for the acid below. The Vesteria Dev Team did comment that, as hard as it is, the drops will be worth it. With The Pit update will come new weapons and a new mob that looks like a Minecraft slime.