Id say to name the weapon Praedyth's Remorse. The exotic perk name could be Paradox. Reason being is that the perk is conflicting with death, but at the same time it's denying life. I like the idea of the weapon but only if there's a large radius for the effect(or does it just effect everyone in your team?)
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It's a large AoE, just larger than crystal room in crota. (Just the one little bit with the crystal) which for raids is more than enough. And thanks for the input!