The Wheel of Fate also known as the spinning wheel is a feature in Blade & Soul which allows you to get extra loot. You will find yourself using this regularly during the whole game. There are multiple wheels of fate throughout the Blade & Soul universe & to use them you will need an orb like essence.
The essences you need depend on the zone you are in. Up until level 45, for the most part, you can acquire these essences by simply killing the world bosses present in the surrounding areas (There are also a few wheels that require 'valor stones' to use but i will discuss this later in the article). After level 45 you may find a few wheels that take other items as 'currency' which allows you to use them.
In general you can expect the same type of loot from most wheels of fate and they include: A 3/5 or 8 piece soul shield set, a dobok or a matching hat & adornment to go with the dobok.
Edit: Having played Blade & Soul NA – Alpha, you can also obtain accessories such as earring from some wheels of fate.
We have put together a list of essences that can be used with the wheel of fortune along with possible loot & the estimated level you will probably be before you reach the area where these essences become available.
World Boss Name: Stalker Jiangshi
Location: Dragon Forest – Death Forest – Crematory
Estimated Level: 6
Loot: Jiangshi raiment, Stalker Weapon, 3/5/ 8 piece soul shield set or clothing adornments.
World Boss Name: Golden Deva
Location: Scorching Sands
Estimated Level: 28
Loot: Deva raiment, Golden weapon, 3/5/8 piece soul shield set, clothing adornments or accessories.
World Boss Name: Pinchy
Location: Scorching Sands
Estimated Level: 30
Loot: Stinger Dobok, Scorpion weapon, 3/5/8 piece soul shield set or clothing adornments.
World Boss Name: Lycan the Mighty
Location: Lycandi Foothills
Estimated Level: 37
Loot: Wolfskin Dobok, Lycan weapon, 3/5/8 piece soul shield set or clothing adornments.
World Boss Name: King Kaari
Location: Sapphire Basin
Estimated Level: 39
Loot: Kaari suit, Kaari weapon, 3/5/8 piece soul shield set or clothing adornments.
World Boss Name: Profane Jiangshi
Location: Orchard of Souls
Estimated Level: 40+
Loot: Profane shroud, Profane weapon, 3/5/8 piece soul shield set or clothing adornments.
For Level 45+ Use
Location: Pohwaran (Wheel is outside 24 man entrance)
Estimated Level: 45+
Loot: Pohwaran hair, buff potions or 3/5/8 piece soul shield set.
Valor stones can be used in 2 ways in blade & soul. Firstly, they can used at 'exchange npcs' for rewards such as doboks, soul shields, weapons and even accessories. They can also be used on a certain few wheels of fate & in the same way offer different rewards such a valor stone chests.