We sat down in the Main Theatre at PAX East for a live Borderlands 4 panel. We got amazing cosplay, free Golden Keys, and a surprise DLC drop—but the price tag is turning heads for the wrong reasons.
If there is one thing you can always count on at PAX East, it is that Gearbox Entertainment knows how to command a room.
Our team piled into the massive Main Theatre at the Boston Convention and Exhibition Center this past weekend to sit in on the highly anticipated Borderlands 4 panel. Hosted by Dan Hewitt, Chief Communications Officer at Gearbox, the panel took on a fun, live podcast format that kept the energy high and the crowd heavily engaged.
While the event was packed with fantastic community moments, charitable shoutouts, and franchise teasers, the absolute centerpiece of the panel was the surprise shadow-drop of the game’s very first story expansion: Borderlands®4 – Story Pack 1: Mad Ellie and the Vault of the Damned.
Here is our full breakdown of the panel, the incredible community cosplay, and our candid thoughts on that hefty DLC price tag.
C4SH Takes the Stage: Voice Acting and Killer Cosplay
Before diving into the trailers, Gearbox took a moment to celebrate the characters and the community that make the Borderlands universe so vibrant.
The panel introduced us to the voice actor behind the franchise’s newest character, C4SH. Hearing the behind-the-scenes process of bringing a chaotic, hyper-violent Vault Hunter to life in the recording booth was a massive treat.
But the absolute highlight of the afternoon was when a community cosplayer walked out onto the stage fully decked out as C4SH. The detail on the costume was jaw-dropping, perfectly capturing the franchise’s signature cel-shaded, comic-book aesthetic in real life. The cosplayer noted that she and her team spent weeks painstakingly crafting the outfit specifically for this PAX East reveal, and their hard work absolutely paid off. It was, without a doubt, one of the best cosplays we saw all weekend.
Mad Ellie and the Vault of the Damned
Of course, the main event was the reveal of Story Pack 1: Mad Ellie and the Vault of the Damned.
When Gearbox rolled the latest trailers on the massive Main Theatre screens, the DLC looked undeniably great. It promises a return to the vehicular, scrap-metal mayhem that the Catch-A-Ride mechanic is famous for, putting fan-favorite Ellie front and center for a wild, explosive narrative arc.
The crowd erupted when the panel announced that the DLC wasn’t just coming soon—it was launching later that exact same day. Shadow-dropping content during a major convention is a phenomenal way to build hype, and the energy in the room was electric.
The Catch: A Steep Price for a Small Story
However, that electricity fizzled just a bit once the digital storefronts updated.
Mad Ellie and the Vault of the Damned is out right now, but it carries a hefty $30 price tag. For a relatively small story DLC, that is a remarkably steep asking price. While the gunplay in Borderlands 4 is as tight and chaotic as ever, and the trailers for this expansion look genuinely fun, it is incredibly difficult to justify dropping half the price of a full, AAA game on a bite-sized story pack.
If you are a die-hard Vault Hunter who absolutely needs more loot to grind, you will likely find plenty to enjoy here. But for the average player, you might want to wait for a Steam sale before diving into the Vault of the Damned.
Golden Keys, Stack Up, and Risk of Rain
To soften the blow of the DLC pricing, Gearbox didn’t let the crowd leave empty-handed. They flashed a highly coveted SHiFT code on the screen for 5 Golden Keys in Borderlands 4.
(If you weren’t at the panel, don’t worry, we took notes. Redeem this before April 26, 2026: WH5TB-BS5SR-3HC9W-HT3B3-STRKW)
The panel also took time to highlight some excellent initiatives and upcoming events outside of the Borderlands universe. They showcased a QR code for Stack Up, an incredible charity that uses video games to support US and Allied military active duty and veterans.
Additionally, they teased an upcoming showcase for the Triple-i Initiative involving Risk of Rain 2, scheduled for April 9th. It is clear Gearbox has a massive roadmap planned for the rest of 2026 across all their properties.
Overall, the panel was a fantastic, entertaining anchor to our PAX East experience. Even if the DLC pricing leaves a bit to be desired, the passion of the developers, the voice actors, and especially the community cosplayers proves that there ain’t no rest for the wicked.