What Benchmade says:
Take your ultralight game to the next level. Inspired by the insanely popular Bugout, the all-new 15535OR-01 Taggedout is Benchmade's first knife to feature CPM-MagnaCut steel, fusing the high-hardness strength and toughness of a tool steel with the corrosion resistance of a super-stainless marine blade. Outfitted with premium carbon fiber handle scales for added rigidity and strength, along with an orange anodized lanyard backspacer, this new Taggedout can handle the wildest of wilderness tasks.

CPM-Magnacut (HRC 60-62)
A new approach to stainless tool steel that eliminates chromium carbides from the microstructure. The result: a combination of properties with similar toughness and edge retention to non-stainless steel like CPM-CruWear and CPM-4V, with the addition of excellent corrosion resistance and strength. 

Carbon Fiber Handle
A contemporary premium composite of thin strands of carbon tightly woven into various weave patterns, then impregnated with resin that is most commonly clear, but can be color-tinted. It offers great looks and is exceptionally strong for its minimal weight.