From our testing, we determined the following bonuses and penalties depending on the difference between monster level and character level:
Fighting monsters with a much higher level than your character do not actually grant a higher XP bonus beyond 25%. The only value that scales up after that point is the monster’s base XP which slowly rises with higher levels. This makes farming high level zones ineffective unless you can comfortably defeat enemies at a pace comparable to monsters close to your own level.
Similarly, it’s likely that the penalty converges towards -100% with a high enough difference to prevent farming of easy low level monsters.
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