This update releases tomorrow (August 19) with the following features (and more):

• Proximity voice chat
  • The further away you get from a buddy, the more radio-like your voice will sound. When you’re really, really far away your voice will start breaking up more.
• Emotes
• Inventory sharing, when in proximity of other players.
• player revives (timer based to bring them back to life)
• 2 new characters with 2 new suit colors (more coming in future updates)
• Tracking tag (a short range beacon) to help find things. Ex: You can put it in a container or on your character to easily find inventory after a death.
• Improved HUD icons, icons will be smaller but when focusing on one it will scale up with more information about it.
• Improvements to recipes
• Improvements to base building for when you can or can’t build something somewhere.