THIS IS A HUGE UPDATE that most of us F2P player gonna get doomed O.o

Always remember these two points

You need to:
1) Awakened the items and make it +5 for all the materials
2) Raid items MUST be MAX main stat and substat to transcend

To add on TongCN's post,only Dragon Raid Weapon/Armor need to be SAME main stats and substats with MAX VALUE for both main stats/substats,Awakened +5 to be used as base or fodder for item trancendence.

Other weapon/armor type like WB,Revo,4L,4OL,7K only need to be AWAKENED +5 with SAME type (example only WB weapon can be used to transcend another WB weapon,Revo for another Revo,etc) to be used as base or fodder for item transcend,don't matter if different main stats/substats with different stat value.

2 YT links below for better understanding of item trancendence.  

One of the key member for speed meta team now,basically if your team outspeed enemy team with Yushin using his Lightning Strike (CD increase) first (very likely he will skill first as he has high lethal rate in his passive),you can unleash another skill (maybe even 2 skills if you are lucky) on enemy team,which give you huge advantage in that match.

If opposing enemy have higher team speed and using Yushin too,well.....you know the story.

being blinded by the auto farming too much

Arena also reach 2.1k only

Yes will still be 40. As usual speed and hp.

Void shield ring thingy.

Uhm. Teo for me.