The Ivy Whip is an upgraded version of the Grappling Hook, with longer range and the capability to fire up to 2 additional grapples after the first is engaged (for a total of 3), which suspends the player midway between them. A fourth grapple can be fired as well, but when it grabs a surface the first grapple disengages. It is far easier to use than the Grappling Hook because of the additional grapples, but these additional grapples can also slow it down in some cases. An Ivy Whip is perfect for scaling the inside of Corruption tunnels.
You can use the Grappling Hook, Dual Hook, or the Ivy Whip to gain a little speed boost by launching it from the air and shooting at the ground on or about a 45 degree angle. By pressing the jump button before you hit the end of the hook, you will receive a small forward speed boost (similar to the Hermes Boots.) This can also be used to start up the Hermes Boots to get the fast running speed more quickly.
You can press the grapple hotkey (E by default) to grapple faster and easier, without even having the Ivy Whip equipped on the action bar.
You can use the Ivy Whip to negate falling damage by grappling the ground just before you hit. This is easiest done in singleplayer mode with autopause switched on.
You can use the Ivy Whip to crawl around caves for mining in harder to reach places.
It should be noted that if using an Ivy Whip and Grappling Hook at the same time, one of the vines will become the hook. This can be useful as firing the hook again will reposition the hook without removing the first two vines.
Try shooting a grapple onto a door and open it. It will send you running at full speed instantly.
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