Khione's Amulet

{p/u}{p/w}: This artifact becomes an instant and can absorb all damage directed to either a white or blue Elder Dragon. Decrease Khione's loyalty by 1. Khione's Amulet must then be exiled.
{p/u}{p/u}{p/u}{p/c}{2}: Khione's Amulet becomes a permanent. A creature enchanted with this does not take any damage from creatures, planeswalkers, artifacts, or sorceries if they require red mana to be used. Creatures enchanted with this become defenders.