It is inevitable, you will die. Fortunately for you the penalty for death in Dysotopia is just a brief pause and hasty return to your desired waypoint.
There are waypoints scattered throughout the world of Dysotopia. Characters can select a waypoint as their respawn location in the event they die. Most dungeons also have waypoints in their staging areas so be sure to anchor yourself at these if you are venturing inside.
When you die you are forced to wait a short period before being allowed to respawn. When you respawn there is no loss of gold, no loss of experience, and no other tangible penalties aside from some nausea (teleportation sickness) and having to make your way back to the location you perished in.
There is currently no bleeding system implemented and there are no plans to add such a system at this time.