The Sharpened Volcano Fragment is a promotional melee weapon for the Pyro. It is an obsidian axe with glowing lava flowing along the blade's extreme edges. This axe does 20% less damage toward everything, so it does 44-60 damage (average 52 with critical hit of 156), but ignites the enemy on hit. This axe is not a very good weapon unless used in conjunction with a Scout wielding the Sun-on-a-Stick, as the Scout will deal 100% critical hits. This is not very good on maps with lots of ammo pickups, as the Pyro can just replenish his ammo quickly and come back and battle. The Afterburn with the damage of the weapon is 112, about 0.7 seconds of continuous Flamethrower fire if most of the flames hit the enemy, and the swing speed of the weapon is 0.8 seconds. With the damage penalty, this weapon is less suited for direct combat, and overall, the stock Fire Axe is a better choice of a weapon, as the stock Flamethrower is better at hit and run tactics than this weapon.
Oftentimes, people use this weapon in case the user runs out of ammo, but going melee is almost completely usless against competent enemies, even Heavies, as they have a massive health pool.