Gearbox Software has announced the sixth playable character for Borderlands 2.

Krieg the Psycho is a reformed bandit who specialises in melee attacks and throwing weapons. He has three skill trees: Bloodlust, which focuses on his Buzz Axe weapon and rewards players for stringing together combo kills, Mania, which increases the rate your action skill recharges as Krieg takes damage, and Hellborn, which increases fire damage when Krieg is on fire.

He's a high risk, high reward character, Eurogamer's US news editor Jeffrey Matulef, who is at Gearbox's panel at PAX East, reports. Krieg is at his best when rushing the enemy front lines. He can throw ignited dynamite when downed then detonate to get back into the fight.

Krieg will be released in May for $9.99 or 800 Microsoft Points.

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Elsewhere, a 2nd April update for PS3, PC and Xbox 360 adds the long-awaited level cap increase. 11 new levels are added to the game, raising the level cap to 61, alongside the Pearlescent weapon rarity, which begins at level 51. This is free to Borderlands 2 Season Pass owners or $4.99.

A separate update, also due on 2nd April, adds the Ultimate Vault Hunter Mode, which you can only access once you reach level 50. This update is free to all.

Meanwhile, Gearbox announced a new $99.99 diamond-themed Loot Chest edition of Borderlands 2, to be released in May. Only 5000 will be made.

The fourth campaign DLC for Borderlands 2, which Gearbox described as the biggest yet, is due out by late June.

At the end of Gearbox's PAX East panel it showed a short teaser starring Tiny Tina, who is playing a Dungeons and Dragons board game called Bunkers and Badasses. Is this the name of the fourth Borderlands 2 DLC?