To comment on the rewards or the incentives for events, if we are looking for something out of an event, I'd like to emphasize something more basic. Why do we login and write? I'm not talking about what you write, but the very action. Could be about anything, but the point is that we don't login to write because we get a materialistic reward out of it. Most of the time we don't get a reward out of it. We login and write with others because that's what we want to do. An event should, at it's core and foundation, be about the same thing. When rewards are involved, people come together not because they want to be but because they'll get something out of it. That should not be what this site is about. The moment it does, we lose respect for it. If we want an event, it must be for participation, not the rewards.
On another note, I think we should build up to something climatic =) Events happen across the entire spectrum of the fractions in separate threads, eventually leading up to one thread that results in a climax. It shouldn't end there though. It should fluctuate back and forth, many threads to one thread then back to many. This way, we have galactic threads, while also tailoring the event to suit the fraction to make it so that the event becomes more personal for that fraction. However long this takes is up to the staff, but I think it should go back and forth between climatic and many, whether it starts as one or the other. An event should take time, in my opinion, spanning a long period of time, whether it's years RP wise, or several months IRL while it's only a few days in the RP. One thread is alright to manage and it'll be up to the fractions themselves to manage their respective threads I think.
That's my two cents =)