Sites can be found as beacons on the overview or as anomalies in the probe scanner. Waves of ships will warp in and out (includes everything from frigs to battleships). Ewar includes warp disruption and mild neut pressure (thanks @Chan_aar). Kill enough ships and eventually the Emcee battleship will warp in. He provides the main loot drop, but I did pull an agency booster out of another wreck. It’s similar to last year’s GG, if you remember that one. Fortunately, there are no lootboxes this go round.
Hoboleaks has additional rat info if you want specifics. Don’t know minimum viable tank but I was tanking comfortably with about 600 EHP/s active rep. Looks like rats do thermal, kinetic, and explosive damage. There’s a mix of serpentis and angel rats, so Kinetic is a good damage type to deal (followed by thermal and explosive).
Maybe I’ve been spoiled by previous events, but the loot was disappointing and the spawn rates for the event sites are too low. Out of two sites, loot included some agency drugs, 1 skin, overseer effects, and random trinkets. No implants. No cerebral accelerators. Like I said, I’ve only run two sites so far, so perhaps i had some bad luck. I’ll check back this evening to see. Oh, but the bounty payout was higher than most live events though. Looks like it might be the same as the emerging conduits. So, yay for that I guess.
Site difficulty is probably in the neighborhood of emerging conduits. Personally, I think emerging conduits can be worse, as a large third wave could get me get me down into half armor before I cleared enough deeps from the field to turn it around.
Also, I was using Ikitursas (fit was all T2 save for the damage mods, which were T2 Sinks + Gravid Mutaplasmids).