Fargo's Mod/Cobalt Enchantment

The Cobalt Enchantment is a craftable Hardmode accessory.

It is themed after Cobalt armor and when equipped, grants a 25% chance for the player's projectiles to explode into shards. This effect has a brief cooldown of 1 second.

Video Tutorial
Here's a little video on how to craft this enchantment(and the Ancient Cobalt one)

Trivia

 * The symbol on the Cobalt Enchantment resembles a Cobalt Sword.
 * The tooltip is a reference to "I Can't Believe It's Not Butter!", with the joke being how normally a world can only have one of either Cobalt or Palladium.