Add temporary effects to tools and weapons

The idea is to add some effects directly to tools and weapons like slime or red slime.
While retaining simplicity.

It would also allow for temporary unique effects like ghast tears, for mining stone with explosions, or maybe extra knockback in a fight.

Red slime for faster mining and sulfur for fortune. Every one could be balanced with a unique durability (which doesn't affect the tool itself) and effect strength.  

Ink could be applied for blindness and maybe some other purpose on tools. And also, some other thick components could be used like magma cream, for fire aspect on weapons and some other peculiar effects on tools like an axe which burns leaves (low propagation), or a shovel which cooks clay into bricks, a pickaxe that evaporates water but does not smelts ores, with cooldowns for warming, so we'd need a couple pickaxes in rotation.

Hoes on the other hand could benefit from a more complicated use of magma cream like applying it with skulk onto the tool to be able to turn sand into soul sand and dirt into soul soil.
Would allow for early players to get silktouch from slimes and honey, with slight accent colors on the edges , smudged slime ;)
Glow ink for glow effect.
Resin could be an alternative to slime & honey. 
The choice would be wide without adding new items to the game.
The red slime would be a bonus tho.
Red slime blocks maybe could conduct redstone.

To balance PVP this would be very helpful against crystals and spears, and more, temporarily.
Some effects can be permanent.