Galvanic Bender

Material - While this is under a permanent, that permanent gets +1

.

Battleworn

Rulings

From the Dynasty release notes

If Galvanic Bender is transformed into a permanent, it is put underneath that permanent which then gains the +1.
While Galvanic Bender is underneath a permanent, it can not be targeted by effects and is not considered to be controlled by any player (you can not defend with it).
If the permanent on top of Galvanic Bender is destroyed or otherwise removed from the arena, the Galvanic Bender put into the graveyard.

Keyword notes

Battleworn - Equipment that wear down after each time they are used to defend. If you defend with a card with Battleworn, put a -1{d} counter on it when the combat chain closes.

When you defend with a card it remains on the combat chain until the chain closes, therefore you cannot defend with an equipment multiple times on the same combat chain.
A -1 counter stays on the card until the card is destroyed or the game ends.
If the defense of a card that is defending is below zero, its defense value is considered to be zero.
When this card is destroyed, it is sent to your graveyard. (Not when it has 0)
When this card is destroyed, it is sent to your graveyard.
If the defense of a card that is defending is below zero, calculate as if its defense is zero.