I would personally rather see an auction house of some kind rather than just trading. Being able to sell and purchase gear you want would be very nice. There would have to be zero pay to win crap involved and well people always find ways to exploit etc (ex:Chinese gold farmers)
If it was just trading then give everything a trade value and the values need to match in order to trade with some one else.
Example:
Exotics : 10 points
Legendary: 5 points
Exotic Shard: 2 points
Commendations (per 1): 1 point
Materials (per 20): 1 point
Etc...
This way the trades have to be of equal value to make them. 1x legendary and a bunch of commendations for someone's exotic. Legendary, 2x exotic shards, and 1x helium filaments for an exotic.
Bit just my opinion and rather not see trading atm
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Instead of just base points for rarity of item each weapon individual item should have its own price and price depends on people so not only would we have trading but a player driven economy also but for that to work there would need to be money sinks for items to reduce inflation.