As explained by official Genshin Impact socials, the banner features reruns of characters and weapons from past events, allowing players to work towards either one they want, on top of possibly earning event-exclusive weapons and characters.
This banner includes a standard 5-star pity system that guarantees a 5-star item every 90 items. The pity system would carry over if the Chronicled Wish were to come back for another event, but the Fate Points wouldn’t.
Version 4.5, titled “Blades Weaving Betwixt Brocade,” also includes a new 5-star character to pull named Chiori, a seamstress who fights with two blades, plus a new story quest for her and new limited-time events with special rewards, as previewed during a special stream. The update is out on March 13th
