a few other mmo's have such a setting.....
Basically 1 life.... you die and everything you have is lost. In this game something would need to be changed with Stash. The whole point is to lose your items without having a safe place to hide them. The first game I came across this setting and ended up only playing was Diablo if you need a reference.
edited
Seem im not the only person that thought this might be fun
The Elite Immortals (guild link http://www.spacetimestudios.com/group.php?groupid=107)
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