Fargo's Mod/Conduit Enchantment

The Conduit Enchantment is a craftable Hardmode accessory. It is only available with the Thorium Mod and Souls DLC installed.

It is themed after, and when equipped, creates up to 5 rings of static energy which orbit the player, generated by moving; each ring produces 1 life shielding per second, to a maximum of 70, and at max charge, the rings are replaced by a bubble of energy that will negate the next attack and shoot out a beam of energy at every nearby enemy for high damage—the same effect as Conduit armor's set bonus. Additionally, it summons a pet.

Trivia

 * The symbol on the Conduit Enchantment resembles a, likely the Martian Saucer.