Gjallarhorn is only an example. Only a select "[b]FEW[/b]" exotics we be redesigned for the Taken King
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Yes "redesign" but the rest can be upgraded stats wise. Redesign means with new perks.
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Redesigned also comes with "infuse". Which is only exclusive to TTK weapons. It allows to upgrade a weapon further. If the weapon does not have TTK logo on it then it is not year 2. Year 1 does not have the infuse feature, therefore you cannot upgrade that weapon any further.