"If you collect Command Tokens, you can go to the Event Ambassador, and exchange them for a reward. The rewards include Experience, Forging Materials, Equipment, Secret Scripts and More."
Find a NPC dressed in blue robe at any bank. Click on him and you will see this message: I want to take part in OB event, click it and you will be lead into the exchange section. There will be 3 gifts to exchange, minimum amount of command tokens require to exchange is 7. The gift reward comes with school certificates and jianghu reputation.