Spread life and death.
Henzell says...
  1. Accessed from the Lair somewhere between levels 2 and 3. Four levels deep. Expect watery terrain and hydras throughout. A decaying rune lies at the bottom, usually guarded by swamp dragons and hydras. As swamp drakes emit mephitic clouds, you may want to have poison resistance or enhanced mental clarity.
  2. Swamp is only in 50% of games; the other 50% have Shoals instead.
  3. There is some shallow water here. There is some shallow water here. There is some shallow water here.
  4. Many new monsters were added in 0.26, so take advice older than this with a grain of salt.

Information based on master branch and the great LearnDB.
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