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The Laws of Prakaethion
Magic exists in many forms, though scholars believe that the fundamental forces behind it may be limited to merely four essences.
The gods do exist, though on their own planes of existence removed from the material plane.
There are many planes of existence, though only the Feywild and Shadowfell can interact with the material plane without outside interference.
Cosmology
No one is sure how the world was created, though most attribute it to one or more of the gods, usually Larost/Maristra, Lesta/Raoon/Caspellete or Bahamut.
The truth is that the world predates the gods, and is a result of the interaction of the four elemental planes, and now serves as a sort of buffer between them.
Principal Geography & Features
Generally earth-like geography, though in locations where a single element is more predominant, conditions are more extreme (Tsunamis and typhoons over the oceans, tornados and violent winds high above the world, violent earthquakes and shifts on mountaintops, and particularly violent volcanos, as examples.)
Initial Active Setting
Primary focus will be on the continent of Aegrora, primarily in Larost and the Eastern Kingdoms.