You are level 20 not level 34, but level 20. You will get a 1 time boost to get a character to 20 so that when TTK drops you can begin your adventure. You will need to attain 20 levels to hit 40 and then after that you will be able to equip "light" items to determine your power. They did it this way so that by just playing you could hit max level and not be left out of content, but at the same time rewarding players who grind.