"Forget carrying a quiver - This magical bow creates arrows out of the thin air!" - DLC item description.
A magical bow that has unlimited ammo but needs to recharge. When holding in the arrow (right-click) and releasing, it will do a magical explosion of blue fire on the target, dealing splash damage (AoE) and setting your target(s) on fire with blue magical flames, dealing damage over time.
Armour piercing, Sniper, Versatile, Unlimited ammo, Splash damage, Damage over Time.
Due to the Waystalker's increased ammo capacity, it can be strongly argued that using this weapon with that career is a complete waste, as the other ranged weapons that use ammo are more effective at the role they are specialised for. However, this weapon is extremely useful as the Handmaiden or Shade, totally negating the relatively low ammo capacity of these careers.
The shooting rate of the Moonfire Bow is approximately the same as the Longbow normally, but the player can loose two shots in rapid succession by shooting a charged attack and then immediately pressing left click again to loose a normal uncharged shot (which is likely not an intentional feature). This technique, when repeated and sustained, is useful against hordes compacted into a small space (e.g. a corridor) or against monsters, as it deals significantly more damage than chained charged attacks alone whilst only sacrificing a fraction of a second in time.
It is wise to avoid fully depleting the magical charge of the weapon where possible, because if the bar is completely depleted then there is a significant wait time before you can shoot the bow again; even though you do actually have enough charge to make another shot, the game will not let you until the waiting period has passed. However, if the bar is not fully depleted, you can shoot it at will.
This is a DLC weapon!
You unlock it by purchasing the "Forgotten Relics"-DLC. After purchase, it will become available to craft in the crafting menu.