Swiggins throws Homboldt in an arch. If it hits an enemy Awesomenaut, it will be chained to homboldt for a couple of seconds. The anchor can be destroyed. Now that's anchor management!
Swiggins throws the Homboldt in an aimable arc, increasing his own movement speed, disabling Anchor Hook, and replacing his auto-attack with Ink Spray. If Hombolt hits an enemy Awesomenaut or lands close enough to them, they will be chained to it via a Tether for a few seconds. If they are hit directly, Homboldt will also deal damage. Homboldt can be destroyed while it is on the ground, but not while it is flying. If the chain expires or if the anchor is destroyed, the tether is removed and the chained Awesomenaut takes additional damage.
After the tether breaks, the skill is placed on cooldown. Swiggins can recall the anchor with a second press of the button once the cooldown is finished. If Swiggins walks over the anchor, it will remove the cooldown, allowing him to recall it instantly. If the anchor is destroyed, the cooldown is raised considerably, even if Swiggins had walked over it previously.
Once the Hombolt is recovered, Swiggins' increased movement speed buff is lost and he gains access to Anchor Hook and Anchor Swing again.