Causes wood and trees to rot after being directly exposed to water for ~5 minutes.
Rotting causes wood and trees to weaken considerably and become inflammable. Also makes it useless for crafting in any form.
Stages of rotting may be added in the future to replace the current binary system.
Dont wet your wood
It rots and becomes useless, you cant craft anything with it or use it as fuel. It would be nice if they had any recipes after that but it doesnt, its just some simple decorative blocks