The event is divided into three parts. Part 2 and 3 will be unlocked at a later date. Complete the quests and "Star of Destiny" challenges to obtain Fading Star's Might and Fading Star's Essence. These will be used to exchange for items in the event shop. You need to be at Adventure Rank 20 or above to unlock the event.
Event Duration
Three Event Phases: "Unknown Star" start time: 2020/11/16 10:00:00 "Star of Deceitful Dreams" start time: 2020/11/18 04:00:00 "Star of Destiny" start time: 2020/11/23 04:00:00 Event gameplay duration: 2020/11/16 10:00:00–2020-11-30 03:59:59 Event Shop duration: 2020/11/16 10:00:00–2020/12/06 03:59:59 (Asia Server Time)
Event Rewards
The event shop uses 2 different exchange items: Fading Star's Might, and Fading Star's Essence. You can view the event shop by going to the event page (F5 on PC), then select the "Event Shop."
Phase 1 and 2 gives Fading Star's Might, which are mostly traded for rarity 3 elemental stones for character ascension. Also has plenty of character exp books, and a lot of Mora. It's recommended that you prioritize both the character exp books, and the limited Mora version. They offer higher value than using your resin on the regular ley lines.
Fading Star's Essence are used to trade for rarity 3 and 4 talent book materials, and weapon exp crystals. More importantly, you can buy Crown of Sagehood. The crown is used to level up your talent from level 12 to level 13 (max talent level), and can only be acquired from events, so they are very rare and limited. Make sure to get this as your first priority.
Complete "Prinzessin's Pact" to get "Prinzessin der Verurteilung!" Fischl (Electro)!
Is it worth the resin?
This event is definitely worth doing, no matter your Adventure Rank level. The exchange shop for Fading Star's Might (1st and 2nd phase) offers limited items, but the main focus is the character exp books, and the limited Mora. Both of these offer higher value, compared to if you use your resin and do Ley Lines instead. The elemental fragments should be the last priority after you take the others, or can be completely ignored since you need the boss exclusive drops to ascend characters anyway. The limitless Mora that offers 500 per shard is not worth getting.
Amount of runs and resins required
In order to buy the entire thing at the shop, you need a total of 1966 Fading Star's Might. If you did all of the first phase, and picked up all the meteorite shards from the map, you will have around 218, add another 60 if you do the optional quests from phase 2. This means that you only need 1688 shards left.
The amount of runs you need for 1688 depends on your Adventure Rank. The max that you can get is at world level 5 (Adventure Rank 40+), and it gives 45 per run. Simply divide 1688 by the max amount that you can get at your world level. At WL 5, it takes 38 runs (760) resins to complete.
Boosted Characters
Some characters' damage are boosted during the event. This effect only applies to the second and third event phases.
Meteoric Wave
These are the additional quests that come with the event. They are pretty straightforward and helps with the story, they also give plenty of additional rewards. You can view these by going to the event section in-game, then select "Meteoric Wave" at the bottom left of the screen.
Unlimited Opportunity
This is the first meteoric quest from phase 3 of the event. To start the quest, tap the location icon on the right. Then talk to Ivanovich in Liyue Harbor.
When you talk to him, you have several options to try and persuade him and get to full friendship levels. To get maximum friendship level, use these answers:
You'll faint if you touch those meteorites.
Perhaps you could go to the Adventurers' Guild...
But the people who buy those will...
He will then ask you to get some sweet flowers for him that's just outside of Liyue Harbor. Take the flowers close to the meteorite and then head back to Ivanovich to complete the quest.
A Mysterious Loss
This is one of the three quests given on the phase 3 of the event. To start the quest, you need to tap on the location icon on the right.
Talk to Viktor inside the Cathedral to start the quest.
After the initial talk, he will tell you to find his lost box around Windrise region. Talk to him again after he gives you the quest to ask him for more details about the location, and exhaust all 3 available options. If it doesn't show up, then you might need to teleport to the marked area on the map first, then talk to Viktor again for the options.
When you teleport to the teleport waypoint for the quest area, face the north and use your vision (middle mouse button on pc, or tap the "eye" icon next to your minimap) and you will see a blue marker on the ground.
Then keep going until you reach the area marked on the map shown above to pick up the box. Go back to Viktor after you've picked it up to finish the quest.
Unknown Star (Part 1) - Meteorite Shard Locations
There are meteorite shards in 3 different areas each day. Each area has more than 7 shards, but you only need to collect 7 in each region.
Once you collect 7 in an area, you can claim the rewards from the missions list. You are still able to pick up the meteorite shards from day 1, even if you missed day 1 of the event.
The two shards near the domain is actually at the top of the mountain. It's easier to pick up the other ones instead if you only want to take 7. A total of 20 in Guyun Stone Forest. The mining marker also contains a shard.
Qingce Village
1 more is unmarked at the top of the mountain in Wuwang Hill. The area with the small lion statues.
To start the phase 2 of the event, you'll need to complete the pre-requisite quest "The Crisis Deepens." After you complete the quest, 3 new Meteoric Wave quests will also be unlocked.
Talk to Mona in Windrise area for her to tell you the locations of the meteorite strike zones. 4 are shown on your map at a time, once you clear all 4, you need to talk to Mona again for more strike zones.
3 different difficulty levels that depends on your world level. It costs 20 Original Resin to claim the rewards, and will only be considered complete once you pick up the rewards. You are also not able to use Condensed Resin on it.
This is the difficulty levels and rewards for world level 6 (Adventure Rank 45).