Quite a bit of content is in the offing, including the ability for players to build, design, and rule their own allod (which is basically an island in the game's vast expanse of magical space known as The Astral).
The expansion also brings ship-to-ship combat, territorial and trade wars, and mercenary characters to the table. These mercs can be called upon to join parties and take down tough content that's not normally tenable for solo players or small groups. The mercs will take a share of the loot spoils, though. That's not all there is to the new patch, but you'll need to head to the official Allods website to find out more.
[Source: gPotato press release]