Hourglass of Oblivion

Anybody know what this fine piece of China does? I've been playing the game for quite a while and just pulled this bad boy but have no idea what it does. I upgraded it about twice but saw no changes in my stats. Is it just an useless trinket that you have the luxury of upgrading?

Exactly what it says.

Yeah I understood once I got the daily raid update lol. I'm so dumb for not having realized that. Thanks anyway though

Well see it it begin that stats at 9:00 to 18:00 hours