the option are:
1. 7% More exp gain
2. 15% More Money gain
3. +1 max level for most skills
4. +3 starting SP
5. + 5 dex (damage)
1 point is automatically put into each and you have 5 left to spend.
Ascend: at level 160 or higher have the skill "Go Outside mastered at level 11 and then go to the ??? shop and buy the new option for 999,999,999 It will make you fight a boss and if you win you ascend.
What it does: You return to level one with no bows or money but you are rewarded with 5 BP. BP allows you to increase several thing which help you on your next way through the game.