This is old man. And not even close to what the first one was like. But yes, this is a farming spot.
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it is? oh. ah well. you can bump up the rates by standing in the middle of the area, it gets a little hectic with enemies spawning out of both caves, but if it does bump up the rates.
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The boost is negligible at best. There's actually a spot near the land tank that you can stand that will let both sides spawn. I used to sit here with visions of confluence and icebreaker.