The Krayt was the prize for beating the challenge from the November 10-11 Console Event. It appears as a white version of it's random drop version Dragon Cannon. It's Projectile Speed Bonus stat will always stay at -20,000 unless the player upgrades the Krayt and reduces the number.
HandCannon/Dragon-Head Type Weapon
84 base attack
8 Shots Per Second (Non-Upgradable)
10 Reload Speed
-20,000 projectile speed
3 Projectiles (Non-upgradable)
Dragon Cannon - Random drop version