A new midgame biome accessible through a portal in the holy mountain after jungle.
Difficulty should be roughly at the same level as the jungle.
As a reward for reaching the bottom of the volcano, you get to choose a perk like in the holy mountain, a few random spells and a unique item:
"The heart of the volcano", which makes you immune to lava and prevents you from catching fire while holding it.
There is also portal at the end which leads back out.