The Celebration Festival is a specific period in APWars that succeeds the end of the War.
wCOURAGE is a resource token from APWars with unlimited supply that can be earned by sending troops to the War for Supremacy. wCOURAGE minting is proportional to troop attack power times morale modifier.
After the war it is possible to stake your wCOURAGE tokens in a Liquidity Pool with wGOLD. This event will reward all the brave warmongers in a superior way compared to those in Hobbit-town that stood at their farms quietly during war-season.
Rest assured that in the War for Supremacy, the losing faction tends to receive more wCOURAGE tokens because of morale effects. And it would not be a surprise if the losing faction amassed more wGOLD after war-season than the winning one depending on the former's luck.