I don't completely know about balancing, but basic rules:
No 1 shot kills at any range w/o precision damage.
No overpowered abilities (Ill be the judge of that)
No other rules noted
Have At It!
My Humble Opinion
Excuse Me Sir, May I Speak?
Exotic Sniper Rifle
Primary Weapon
Possesses No Scope (Not a noscoping gun)
Precision damage is lowered to slightly better than scout rifle (x2.5 instead of x10 or whatever snipers get)
Has small iron sights, akin to a hand cannon, but a little more archaic, and slightly larger
Has a mid length 9 shot magazine (also aesthetically on the bottom)
First Perk: Luck in the chamber
Exotic Perk: Humbling Opinion (Precision hits overpenetrate, Precision kills make the target explode and increase reload speed, as well as granting a damage bonus)
Bolt Action Sniper, Increased Reload time and you have to unscope to reload between shots (Happens automatically)
1st option set(Normally scopes, but this has no scope)
Snapshot
Custom Optics
Single Point Sling
2nd option set
High Caliber Rounds
Explosive Rounds
Extended Mag
Designed as to be just something different, no idea why, just liked the idea, so thought I'd share
Now, continue Posting
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Here's my idea for an exotic weapon. Taking away from the idea of the No Land Beyond but with a major improvement. I'd love to see an exotic primary sniper rifle that is bolt action but the exotic perk would be that it slots a legendary pistol in your special weapon slot. This exotic would use two slots in your inventory but allow you a suitable sidearm. The pistol would just be an average mag loaded weapon but have legendary damage stats. Short to mid range and semi automatic. Precision Kills with the pistol would replenish ammo directly into the sniper rifle magazine. The pistol would need to have lower range and higher fire rate than a hand cannon for balancing but it would be a cool combination for a primary sniper to have a proper sidearm.