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Darkstalker Kaathe, also known as Master of the Abyss, is a Primordial Serpent just like Kingseeker Frampt. But unlike Frampt, who persuades the player to choose the "good" ending and "link the bonfire" after defeating Gwyn Lord of Cinder. Kaathe attempts to sway the player the other way and suggest to keep the power to himself and therefore leading into the "Dark Lord Ending". Although both endings are open to interpretation. Also unlike Frampt, Kaathe is a bit harder to find as you need to defeat The Four Kings before you talk to Frampt but after you obtain the Lordvessel from Gwynevere. After doing so, warp out of the abyss and warp back. Darkstalker Kaathe is now waiting for you.
Talking to Kaathe will make Frampt leave, although Kaathe still has the power to lead you to the Firelink Shrine Alter, he does not have the power to eat items for souls. Finally, the best reason to ever find Kaathe is to join the Darkwraith covenant. The masters of invasion, souls and humanity stealing. All members of the covenant will obtain a Red Eye Orb with unlimited uses upon joining, although you must be a member of the covenant to use said item similar to the Blue Eye Orb.