At first I thought that sounded overpowered but when you really think about it, it's a very balanced exotic. The way I assume this works is that if your at full health and something does damage that would normally insta kill you, you would survive. If you take any kind of damage it doesn't work. I'm thinking there should be some kind of cool down to it because I still think this is too good. Maybe 30 seconds.
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Agreed, with a regeneration upon orb collection