Is it the current gear you have equipped? Can it be only what you have in your inventory? Or what about whatever highest piece you have in your bank? Or is it none of the above and is just on what the highest piece of gear you got from any time, no matter if you scraped it? Has anyone tested all these options out?
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I think engrams decrypt as the average highest light you could have, so it is based off of what you can get using your total items.
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It is based on average light of highest in your character’s inventory, doesn’t matter if it’s equipped or not but must be in that character’s inventory
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Highest gear that you have currently. Anything can be in the vault and weapons can be on another character.