Events will allow you to compete with your friends, show everyone else who is the top dog and get some good rewards on top of everything. Events are usually time limited from few hours to several days, and each event has a unique condition to perform in order to get to these sweet rewards. The Events menu can be accessed directly from the main command interface using the Event button on the left side of the screen.
The button displays the remaining time for the closest to end Event.
Some events will have leaderboards and competing brackets which hold their own rewards given at the very end of the event depending on your performance.
Most events however have Threshold rewards that you can get by performing the condition and reaching a certain score. Once that score is reached, don't forget to collect your rewards though.