Bungie announced, before the last iron banner, that the rank retention was a one time deal. Starting with this iron banner, reputation will be reset for each event.
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So each time iron banner comes out all rep is erased?
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Yes, this way they can ensure all players have o participate in the current event to purchase the current event's rewards.
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Does this mean iron banner is staying longer than a few days?
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The events have all run one full week. I don't believe this one will be any different.
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Nope still a week