This week's Destiny 2 Ascendant Challenge is in the Bay of Drowned Wishes. This area is located directly behind the Dreaming City's landing zone. It's unmissable; just turn around when you spawn in and follow the path until you reach an open area. Use a Tincture of Queensfoil and you'll find the challenge portal down a path to the right. (Note: I had already collected the eggs and lore in this challenge before recording this video, so I've indicated where they would be with arrows.)
Beating the challenge
The bulk of this challenge (0:20 in the video above) is straightforward platforming. Your goal is to reach the big, uh, space gazebo at the end of the path. Little lights will indicate which platforms you need to jump to, and (as seen at 1:10) you can also fall from higher up in order to save time (just like the penguin slide in Super Mario 64). Once you make your way to the end, a few Taken orbs will appear alongside some Shadow Thrall. Destroy the orbs and two Wizards will spawn in. Kill them both to complete the challenge.
Bay of Drowned Wishes Taken eggs
There are three Taken eggs in this challenge. Luckily all of them are easy to spot. The first egg (2:57) is on top of the mountain at the start of the path. Move up two platforms and look to your right. The second egg (3:07) is on top of the floating statue about halfway through the path. Just follow the lights along the path and you'll find it. The third egg (3:21) is on top of the gazebo at the end of the path. You can snipe it from the final platform.
Bay of Drowned Wishes hidden lore
You can find a set of lore bones (3:40) in this challenge behind a big tree on a large marble platform. From the platform where you shot the first egg, the tree is four platforms ahead. It's also pretty much the only tree along the path, so again, you can't miss it.
I was using Thunderlord in this video! It's very good. You can get it yourself with the help of our Destiny 2 Thunderlord quest guide.