Answer:
I am the second L in LOL.
In wealth I abound; in water I stand; as a fencer I'm valued all over the land; at Venice I'm famous; by farmers I'm prized; respected by law yet huntsmen despised; consternation and ruin ensue when I break; And the beasts of the forest advantage won't take.
I grow up while growing down
Why is leather armor best for sneaking?
A hundred arms, a thousand fingers, but I have no eyes to see where I linger. What am I?
Though not a plant, has leaves. Though not a beast, has spine. Though many wouldn't need this thing, It's more valuable than wine.