Alchemy is a skill that is locked behind a quest. Once unlocked you can click Craft/Enchant to then click a new option called: Alchemy.

Alchemy requires the use of both Gold Dust (you get from disenchanting and destroying) and Shards (you get from killing (you have to be the one that kills) Celestial Entities). Once you have enough you can start crafting items that either give you limited time boons or items that do damage to kingdoms (which you can only use when attacking a kingdom).

Boons can be used from your inventory. You can use a maximum of ten boon at one time.

This skill requires you to use Alchemy, which you can find under Craft/Enchant Assuming you have done the appropriate quest.

Max Level:
Base Damage Mod At Max Level:
Base Ac Mod At Max Level:
Base Healing Mod At Max Level:
Fight Timeout Mod At Max Level:
Move Timeout Mod At Max Level:
Skill Bonus Bonus At Max Level:
100% (Bonuses from equipment can make this higher)