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=Relic=

The "Relic" refers to an object, or more actually a pair of objects, connected to a past Level 5 and Academy City's "previous generation".
 * 1) REDIRECT Level 5

Etymology
In a religious sense, a (derived from the Latin reliquiae, meaning "remains") is an object or article of religious significance from the past, such as the physical remains or personal effects of a saint or other similarly venerated person, preserved for veneration as a tangible memorial. Relics are present in Christianity, Buddhism and various other religions. A shrine housing one or more religious relics is known as a reliquary.

The term can also refer to something which has survived the passage of time, such as an object or custom whose original culture has disappeared, as well as an object cherished for historical or memorial value (such as a keepsake or heirloom).

Principles
There are numerous rumors surrounding the Relic, said to have leaked from a now-defunct laboratory. It has been said to be a malignant tumor which consumes esper powers, a precious stone which gathers lifeforce, or a secret technique to rearrange the "braid of time".

Tokiwadai Middle School also has a rumor concerning a "Relic", specifically rumored secret win condition for its student council presidential election, outside the election itself - a treasure hidden in Tokiwadai which is said to give each president a hidden power, with people relying on the rumor called Diggers.
 * There is supposedly a close connection to someone in Tokiwadai.

Relics
The actual Relic (or rather Relics, given that there are at least a pair of them) is a cube which is connected to one of Academy City's past Level 5s and the city's mysterious "past generation". Among the past Level 5s, there was said to be once one capable of spatial control, heralded by a chill in the affected area.

The Relics are capable of manipulating those who hold them, apparently putting them under the influence of the former Level 5,   and allow them to draw upon powers associated with them. Whether the powers of the two Relics are identical or differ in some ways is not currently clear, but they both involve the creation of Shadow Metal, and a drop in temperature within the area of effect to the extent of ice forming.

In the case of Tokiwadai's Relic, in the possession of Kokuchou Mayui, the power displayed was referred to as Synthesize Grid. Within its chilled area of effect, the grid consumes exerted esper powers, manifesting Shadow Metal as a result. This may have extended to ambient traces in the surroundings, given that the air in the affected building was filled with metallic particles. The influence of the power is, at times, visually represented in the form of a dark miasma. Other aspects of the power apparently include a barrier, and an invisible attack capable of easily boring a large hole through multiple large objects. The cube itself was also capable of disguising itself as a book.
 * Invisible attack
 * Barrier

In the case of the Relic which Kouzaku Mitori encountered in a facility, through which the Level 5 initially communicated with her through vibrations, the power displayed was referred to as Absolute Leaf and invoked with the command Throttle. Aside from the creation of Shadow Metal and the temperature drop, it was able to neutralize an effect caused by the other Relic (namely the manifestation of large metallic spikes to skewer Misaka Mikoto when she strongly invoked her own power), with the effect of the scene shattering.

Previous Generation
Not much is known about the unnamed Level 5 behind the Relics. When communicating with Kouzaku, they claimed to be her "Senior" academically and the previous #1 Level 5. With Kokuchou, on taking over when Misaka Mikoto approached, they said a current Level 5 should stopped by the previous. They also expressed a wish for revenge and intent to bring down the hammer and destruction upon the city's law and its ruler.
 * Ch14 traits
 * Kokuchou

Aside from the Level 5, there is also another unnamed group associated with the Relics who are also said to be part of the mysterious and rarely mentioned "previous generation" before the current generation. This group used two squares (visual representations of the cubes) as their symbol. Aside from the Relic, the group also sought Shadow Metal, said to exist as cubic crystals, with an increase in activity after a large amount was generated in an event during the Daihaseisai. The group had a number of facilities and personnel at their disposal.

Other
Aside from the two with the Relics in hand, one of the other election candidates who was involved and emphasized in the events surrounding the election and the cubes, possesses traits notably similar to the Relics and their associated aspects. Kamino had square-shaped eyes (somewhat similar to the square representation used by the group connected to the cubes) and used a spatial control ability affecting a cube-shaped area, the usage of which provoked a feeling that reminded Shokuhou of the past Level 5. Aside from sealing off space (with the effect represented visually with a dark miasma), the ability was also capable of disintegrating objects within a designated area. Whether there is a connection and the exact nature if there is one is currently unknown.

Background

 * Past

In a conversation with Kamijou Touma one year prior to the main story, Shokuhou had mentioned that there was once a Level 5 capable of spatial control.

Tokiwadai Election Arc
The Relic(s) played a key role in the events surrounding Shokuhou Misaki's involvement in Tokiwadai's student council presidential election in October. (Nogi-Ref)

Prior to the election, Shokuhou began investigating the Relic, learning of a supposed close connection to someone at Tokiwadai. Although it had started as a simple investigation, Shokuhou ended up taking out a related institute, with individuals connected to the group involved attacking her in the next day.