It is probably the most useless perk in the game.
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shank burn.... remember
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Shank Burn is actually more useful especially in that one strike vs the Giant Shank. Circle of Life isn't useful in any situation. By the time you throw your knife and get the kill and extra time 1 second is wasted thus it giving you 1 second of extra time basically.
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But shanks on nightfalls. That flame shields haha