Will reach rank 5 today but for those of you that have claimed I have wasted my time here is what you missed. Hawkmoon, drop, no mans land drop, Gallahorn (dropped for me personnaly) 4 ship drops and high level legendary IB weapons that you can reforge and make any roll you want.
* Just to clarify Gallahorn is only exotic that dropped for me the others I saw awarded. I have dropped IB weapons and the reforge is the best option in the game for people that are non believers.
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A guy in my fire team got the ice breaker from a drop last night... Lucky bastard