The Chest of Maggots is a chest that can be opened with a Key of Maggots obtained from a Wormfeeder Rune. It and all other Wormfeeder Rune chests will reward engrams, Court of Oryx runes, Wormspore, and Calcified Fragment XXXVIII: The partition of death.
The chest is located in the Mausoleum in a small cave room next to the entrance to The Founts.
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Maggots Chest Location Guide - Destiny-Maggots Chest