That's kinda what I figured. The other way would be too good to be true. I'll prob still give it a shot. The rewards are pretty good.
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If it works the same as the Sparton 300 event, and I believe it does then if you get to 500 battles you get all prizes from lvl 7,6,5,4,3,2 and 1. If you only do enough battles to get to lvl 5 then you also get the rewards from lvls 4,3,2 and 1 as well.
I wasn't active during that event, but your saying you do get the Lv 1 rewards again at lv2 and again at 3 and so on? I hope so. Either way, I'll get what I can out of it.
Edit: after looking at this it seems like you can end up with 15 skill shards if you make 500. Oh wait I think I get it. It's only 6. It just calculates where your at when the event ends and gives you that level. Still pretty good. 15 would be better!
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For some reason I was thinking you get the rewards as you reach each tier, instead of it being done after the event. That's why I thought it was 15 shards. I bought some ironite for it. I'll ride the roller coaster this week and see if I can get there. I don't have to win them all so it should be doable.