About 'Decay damage' on a weapon

[kris.aalst]

I'm very happy to have acquired the Worldedge Greataxe. But I'm not exactly sure about what the '24.5 Decay damage' means. According to the Wiki (*), "Decay Effects are: Possessed, Curse and Poison." Poison damage seems straightforward but does the axe also apply the possessed and cursed effects? Because that would mean dealing even more poison damage than the base number of decay/poison damage of 24.5, right?

(*) https://outward.gamepedia.com/Elements/Decay

[FromAutumn]

I think it's dealing only 24.5 damages from the "decay" element, but it doesn't inflict any hexes, otherwise it would say "apply poison effect", thinks like that.

[Evangelion]

It deals blank 24.5 decay damage (it's same type of damage that poison does, except that it isn't a dot). It's a super strong weapon that can demolish almost every enemy you can find.

It doesn't apply any dot but its damage is increased by possesion boon.