The ganodermic poncho degrades over 30,000 charges of combat, and will revert into a mycelium poncho web when fully degraded. Partially degraded poncho can be repaired using ganodermic flakes - 50 per 1% - which also requires 98 Crafting and some thread, granting a scaled amount of Crafting experience. If they fully degrade, they will need to be re-created from the poncho web.
The poncho can be cleaned at any point to return the mycelium poncho web, and half of the remaining charges in ganodermic flakes, rounded up - e.g. an 80% charged poncho will return 2000 flakes. Additionally, alchemy performed on the poncho returns a scaling amount of coins based on the remaining charges.