In the process of tweaking features throughout Diablo 3 for the 1.0.4 patch, Blizzard has also created the Paragon System. This new system tackles two major issues that have been identified within the game – Magic Find and level-60 player rewards.
Here's a breakdown of the Paragon System from the official blog entry:
After you hit level 60, any further experience you earn from killing monsters will begin to count toward Paragon levels
There are 100 Paragon levels
Every Paragon level will reward you with:
– Core stats such as Strength, Dexterity, Intelligence, and Vitality in amounts similar to what you’d gain from a normal level
– 3% Magic Find and 3% Gold Find
In addition, a distinctive increasingly-impressive border will surround your character portrait in the in-game party frame to denote your Paragon progression, with a new frame earned after every ten levels. Your Paragon level will also be visible to other players wherever your normal level is shown
The system will cap Magic Find at 300%, so reaching Paragon level 100 will effectively hit that ceiling. This allows players to reserve gear slots for other facets of character boosing.
Check out the official Diablo III site for final patch notes and launch information in the coming days.