Thanks to my amigo @kraftec for the question.
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The Gunboats are a secondary weapon for the Soldier. They are a pair of modified, metal-reinforced military type jungle boots.
The Gunboats reduce the amount of self-damage that is received from a rocket jump by X%. The damage reduction does not apply to rockets that injure enemies. They also do not prevent fall damage suffered by the player.
This weapon was revealed as the prize for the Soldier's victory in the WAR! Update.