I always believed that turning into one of those slug things was transcending the hunt . What was supposed to happen was your task set up by the moon presence was to kill Mergo . That is the Final boss of the game . Then Gherman , who is the moon presence main mankeeper , rewards you by letting you leave the hunt and get on with your life . That ' s ending one . Ending two is when you tell Gherman fuck you , I ain ' t dying . He assumes you ' ve just gone crazy from the hunt , and try ' s to forcefully reward you death . I assume that when you die from him in the fight , you leave the hunt like in the first game . If you kill him , the moon presence then sees you as the better servant , and embraces you , and transforms you into his servant forever , as the night has been going on forever . That is ending two . Ending three , is when you collect the umbilical cords . I ' m not exactly sure , but I ' m guessing that by consuming the cords you ' ve started the process of transforming into an elder god . The moon presence no longer can enslave you because you are the same species , so instead tries to murder you . When you kill it , the moon sets and the sun rises for the first time in years . You finally ended the hunt , and Yarhnam goes back to normal , atleast till the next night of the hunt , but that hunt should only last for a night . After killing the moon presence , you finally completed your transformation and are now an elder god . That slug is you , and since you just changed you are very weak , like a larva . The doll cares for you because she loves you . Ending 1 is the best ending for you , because you are cured of whatever plagued you in the first place , and are now free to go wherever you want in the world . Ending 3 is the best ending for everyone because they are free of the moon ' s curse . The endThat ' s my interpretation of the ending of the game , feel free to debate with me , would love to hear your opinion .