XP is gained based on the amount of damage dealt to mobs or other players when wielding a sword.
Serrated Strikes is an active ability. You can activate it by right-clicking with a sword. This ability allows you to an AoE (Area of Effect) hit. This AoE will do a bonus 25% damage and inflict a bleed effect that lasts for 2 seconds.
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Gives a chance to inflict/reflect a portion of the damage done to the player back on the attacker.
Gives a chance to inflict a DoT(Damage on Tick) debuff that effectively acts as if the mob is bleeding out.1
1. Still affects skeletons