You have a +1 bonus to attack and damage rolls made with this magic weapon.
A light weapon is small and easy to handle, making it ideal for use when fighting with two weapons.
If a weapon has the thrown property, you can throw the weapon to make a ranged attack. If the weapon is a melee weapon, you use the same ability modifier for that attack roll and damage roll that you would use for a melee attack with the weapon. For example, if you throw a handaxe, you use your Strength, but if you throw a dagger, you can use either your Strength or your Dexterity, since the dagger has the finesse property.
You have a +1 bonus to attack and damage rolls made with this magic weapon.
When you take the Attack action on your turn and attack with a Light weapon, you can make one extra attack as a Bonus Action later on the same turn. That extra attack must be made with a different Light weapon, and you don't add your ability modifier to the extra attack's damage unless that modifier is negative. For example, you can attack with a Shortsword in one hand and a Dagger in the other using the Attack action and a Bonus Action, but you don't add your Strength or Dexterity modifier to the damage roll of the Bonus Action unless that modifier is negative.
If a weapon has the Thrown property, you can throw the weapon to make a ranged attack, and you can draw that weapon as part of the attack. If the weapon is a Melee weapon, use the same ability modifier for the attack and damage rolls that you use for a melee attack with that weapon.
If you hit a creature with this weapon and deal damage to the creature, you have Advantage on your next attack roll against that creature before the end of your next turn.