Ok. So lots of people got confused by... well, lots of things. Your confused responses like "Loki was Odin's brother? Ahhh the mind fuck is too much" lead me to confirm my sources. So I searched the web for a while. So lets sit down, and learn mythology.
Although there's a lot of stories involving Loki, his relationship with Odin is unclear... Is he Odin's brother? Adopted son? Sex slave? No one knows, as there are multiple claims... But lets use Wikipedia as the foundation.
In Norse mythology, Loki (/ˈloʊki/), Loptr, or Hveðrungr is a god or jötunn (or both). Loki is the son of Fárbauti and Laufey, and the brother of Helblindi and Býleistr. By the jötunn Angrboða, Loki is the father of Hel, the wolf Fenrir, and the world serpent Jörmungandr. By his wife Sigyn, Loki is the father of Narfi and/or Nari. By the stallion Svaðilfari, Loki is the mother—giving birth in the form of a mare—to the eight-legged horse Sleipnir.
So... let's clear things up a bit. I'm only going to explain the potentially confusing parts.
By the jötunn Angrboða, Loki is the father of Hel, the wolf Fenrir, and the world serpent Jörmungandr.
Loki fucked a giant and became the father of: Hel, the evil female version of Hades, Fenrir, the strongest wolf in existence, and Jormungandr, a serpent that encompasses the globe.
By his wife Sigyn, Loki is the father of Narfi and/or Nari.
Narfi and/or Nari is a HUMANOID god. It's a pain to explain who they actually are, so here's the link. http://en.wikipedia.org/wiki/Narfi_and_Nari
By the stallion Svaðilfari, Loki is the mother—giving birth in the form of a mare—to the eight-legged horse Sleipnir.
Loki got fucked by a horse, and gave birth... to Sleipnir! This 8-legged horse is the warhorse of Odin. And please don't ask me why Loki willingly got fucked by a horse. Please.
I said that Loki was supposed to be Odin's blood brother-- it was caused by this.
Three versions of the myth (translated) show Loki bound to Odin by blood.
Original:
"Mantu þat, Óðinn,
er vit í árdaga
blendum blóði saman?
Ölvi bergja
lézktu eigi mundu,
nema okkr væri báðum borit."
Translation 1: (Auden and Taylor)
"Remember, Odin, in the olden days
What blood-brothers we were:
You would never have dreamed of drinking ale
Unless it was brought for us both."
Translation 2: (Thorpe)
Stolen from its rightful author, this tale is not meant to be on Amazon; report any sightings.
"Odin! dost thou remember
when we in early days
blended our blood together?
When to taste beer
thou didst constantly refuse,
unless to both ´twas offered?"
Translation 3: (Bellow)
"Remember, Othin, | in olden days
That we both our blood have mixed;
Then didst thou promise | no ale to pour,
Unless it were brought for us both."
The original mythology never actually mentioned that Loki was Odin's blood brother.
With that in mind, let's move onto Odin.
Here's an excerpt from Wikipedia
"Odin" is generally accepted as the modern English form of the name, although, in some cases, older forms may be used or preferred. His name is related to óðr, meaning "fury, excitation", besides "mind" or "poetry". His role, like that of many of the Norse gods, is complex. Odin is a principal member of the Æsir (the major group of the Norse pantheon) and is associated with war, battle, victory and death, but also wisdom, Shamanism, magic, poetry, prophecy, and the hunt. Odin has many sons, the most famous of whom is the thunder god Thor.
There. That should explain everything quite well. You probably don't even need help.
Now, for his weapon.
Gungnir is a weapon forged by the dwarves. Unlike Mjollnir, Thor's hammer, the Gungnir has no visual effects. It doesn't shoot off lightning. It isn't burning hot. It doesn't make the user fly. So what can it do? Well, here are several descriptions of the spear, that I found in several websites.
It's Odin's magical spear that always hits its mark and always kills. Gungnir means “Swaying one” it is made from Yggdrasils Sacred ash. Odin has also written his magic runes, onto Gungnir. - See more at: http://www.viking-mythology.com/items.php#sthash.ZUgmdIPJ.dpuf
The spear was fashioned by the dwarfs known as the Sons of Ivaldi under the mastery of the blacksmith dwarf Dvalin. The spear was obtained from the dwarfs by Loki, the result of a scheme he concocted as a partial reparation for his cutting of the goddess Sif's hair. The spear is described as being so well balanced that it could strike any target, no matter the skill or strength of the wielder. - Wikipedia
I hope that helped. More information will be released, as new characters come out with their own respective story. New chapter will be released 1 day late. I have... things to deal with.