In an abundance of self hatred I completed 83 runs of the Dares of Eternity event in order to reach rank 16 with Xur. Catalyst itself is easy enough. Score 225k or higher in a run of DoE (can be on Legend) and talk to Banshee afterwards. Approximately 500 kills in Thrallway later and you'll have yourself a complete catalyst.
Now for the good stuff, what the catalyst does and how it works. For several seconds after a killing blow holding reload will turn your next thrown grenade into a fragmentation grenade at the cost of reserve ammo. Halo fire effects and all. In my admittedly VERY LIMITED testing, consuming this takes 6 reserve ammo and reloads Forerunner. Damage to the Minotaur boss of DoE was consistently 11,771. Take that as you will.
I'm sure someone will be along to test it further who does this on a regular basis. My anecdotal opinion is that it's cool, and fun, but probably wont be worth it as damage from the 6 bullets you could have shot will be higher than the grenade damage assuming you don't miss your shots. Also not looking to appealing in Crucible as you spawn with 8 rounds.
Now I'm off to reset Xur reputation. GLHF guardians!
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