I have an exotic and 3 legendary pieces of armor currently equipped on my titan with all but 3 spots upgraded with shards. Doesn't seem like the last 18 shards would move my light to 29.
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Shards are just upgrade materials, they don't really have anything to do with light. Upgrading the defense on each piece of armor increases the light for that said piece. Max is 27 for legendaries, 30 for exotics and raid gear. With 3 leg' & 1 ex you'll be 29.25
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I was just mentioning there are 3 more defensive upgrades costing 18 shards and didn't seem like the less than 100 defense would get me to 29.
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You can barely hit 29. I had knucklehead radar and full set of legendary dustwalker armour all maxed out. Gives you a total of 111 light, 109 is requiered to hit 29