It has both the normal features you might expect of a modern language, (functions, variables, an object system, dynamic memory), as well as some more advanced ones (mutually recursive definitions, lambdas/closures, algebraic data types, templates, marker traits, defer statements, etc).
Kraken will then generate the RNLALR parsing tables from the grammer or load them from a binary file if Kraken has been run with this exact version of the grammer before. Then it will parse the input and export one .c file along with a .sh script containing the compiler command to compile the C files together into a binary.
The current work is going into self-hosting the compiler, which is progressing quickly. Currently, the self-hosted version can compile simple programs consisting of functions, variables, normal operators, if statements, while loops, and very simple C-passthroughs.