It is accessed from the third floor of the Duskmoon Tower, and does not connect to other dungeons.
It shares its arena style with The Black Abbey and has the same function as an arena for Arisen and Pawns to fight enemies. Each time the Rotunda of Dread is visited, different enemy combinations will spawn. The Rotunda may be immediately re-entered repeatedly with fresh enemies to fight ad infinitum, making it a great farming location.
Except where noted, items can be expected to be obtained at any time.
" 'Tis not defeat to flee from battle, Master. ' Tis survival."
"Where do these trees find sunlight, I wonder."
With the Incense in the inventory normal foe spawns in the Rotunda cease and only those lured by the item appear - once all three sets of foes have been defeated no more enemies will appear until four days have passed.