Yes! You can find three different type of events: Quests, Tournaments and Passive Events.
How do the Quests work?
The Quests are challenges available during certain times where you will need to cooperate with other players in order to achieve an objective. Everyone who contributes gets a reward, and rewards are even greater if the objective is completed!
How do Tournaments work?
Tournaments will test your abilities competing against other players. You will be provided a Dragon and pets and your best run will determine your position in the leaderboard. The higher you end up in the leaderboard, the greater the reward.
How do Passive Events work?
Passive Events are events which temporarily increase stats and rewards!