Arena event is pretty interesting, just before 2.0 gets released there's an event that the dedicated players can get their i70 weapon. After 2.0 it's only obtainable when you reach level 50 and do the upgrades in steps from 65 to 66-67-68-69-70 where as right now you can upgrade from i65 to i70.

Items required running the arenas, yeah you need A LOT resources to get far enough in the arena event. If you time out too early you get low amount to no whie pages.