Would be nice to know I guess
Best case is obviously that you can use then on year 2 gear to max them out... but I doubt that will happen.
Worst (likely) scenario, I imagine they'll be treated like Ascendant materials and such. Tradable for motes or whatever, or able to be used on the older-class of gear that took them before the switch.
Obviously there are worse scenarios, but I doubt they'll do something worse than what I posted.
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All good thoughts, but I'm looking for the REAL answer, that would come from BUNGIE. Come on Bungie, this question needs to be properly answered.
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The real answer is that nothing is going to happen to them. Etheric light will remain the same. You will be able to ascend any piece of armor or gun that has the ability to be ascended, so basically anything year one. Year two weapons and armor do not have the ability to ascend.