This is obviously a broken card. I think it requires both a stat reduction and an effect reduction. I think a reasonable nerf could be as follows:
Effect: OG: The next spell you cast this turn costs 0
Given how powerful Vanar spells are, I think this would keep the card strong, though not as abusive as it is now.
Clearly, I see this card on ladder everyday and in the very large majority of Vanar decks, and I also it in my Vanar decks and I think it’s crazy. Any late-game oriented deck can find room for it, it’s just too good