As title says, whats the point behind rank 1? I placed an order right now.
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Each rank allows you to carry additional weapon orders. On top of that hitting rank 2 grants you a short quest for a class specific legendary weapons and hitting rank 3 grants you a short quest for your class specific exotic primary. That said after rank three, uses for additional ranks SEEM limited. I say SEEM because we don't have all the info yet, including the info on how to get the Sleeper Simulant.