Moonlighter 2: The Endless Vault is an action RPG that blends roguelike elements with shopkeeping mechanics. Players take on the dual role of an adventurer and a shopkeeper, exploring procedurally generated dungeons to collect loot by night and selling it during the day in the village of Tresna. The game introduces an enhanced 3D visual style while maintaining its core gameplay loop. Players can upgrade weapons, improve their shop, and develop the town, utilizing profits to unlock new features and combat abilities.

The gameplay features dynamic dungeon-crawling experiences across various biomes, with improved combat mechanics including new moves like the backpack attack and long-range gadgets. The revamped shop system requires players to negotiate prices, manage inventory strategically, and utilize perks to maximize profits. Players also engage in the overarching narrative of restoring the village and uncovering the mysteries of the Endless Vault, which is central to the protagonist Will’s journey.