The type is a descriptive term that defines the different tiers of rarity by which Dragons and other gameplay elements are classified. There are six levels of rarity, in ascending order: Common, Uncommon, Rare, Epic, Legendary, and Divine. In terms of Dragons, rarities affect the Gold production of those that generate Gold. Clan Dragons and Boss Dragons are unaffected by type, as they do not produce Gold, while Boss Dragons speed up the production of the other Dragons by 10% per Boss. While not exactly a rarity, Boss Dragons have a separate classification called the "Boss Rank". Additionally, when it comes to breeding, the higher the rarity of a Dragon is, the more chances there are that it will produce rarer offspring. Furthermore, when it comes to being bred, the rarer the Dragon is, the longer it will typically take to be obtained.
While rarities mostly apply to Dragons, they are also attributed to other game features (such as chests awarded for exploring ruins, potions in the Enchantment League, recipes in the The Great Dragon Race event, or badges). Typically, the lower a feature is classified, the easier it will be to obtain it and the more prevalent it will be. However, it will also display weaker or inferior characteristics and will yield fewer rewards where applicable.
See Notable Formulas or Tables for information on calculating them
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