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Borderlands is known for all of the crazy weapons and items you'll find, and the random loot generator is in full effect here in the Pre-Sequel. This means that there's always some new gun to find around the corner, either by opening up treasure chests or finding them from off the bodies of the recently deceased.
Chests must be unlocked with a Hextech key. Players can earn up to four chests at a time and chest slots regenerate at the rate of one chest slot every 7 days. This is shown in the Summoner Profile. Champions eligible to earn chests are shown on the Champion Profile. Players can only earn chests on champions they own.