Is there a definitive answer on whether my current engrams will possibly decode to as yet unreleased loot after new content arrives?
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Save em. Worst case scenario. You get a bunch of exotic shards. I have 30+ and I think that some of the new exotics are already in our loot table currently just locked up. So we might actually get em after the update goes live and they "unlock them" technically we would have engrams that are able to drop into the "new" exotics
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No. And there won't be until the content is actually launched. It will depend if they need a new loot table with new engram items to account for the new light level like they did for DLC or if they can just add the new exotics to the existing loot table like they did with the December update. It's hard to say now that the light level of exotics is just an equation built on your light level.