well, it is an event!, is it a good one? now that is the question! lol
there is somewhat of a story line you can read on the herald for some fiction about the Bane
as for actual in game fiction to be discovered on your own?, there is none atm!
that has been the recent Devs way of doing things lately!, but ive been told that is about to change! and we can expect actual in game depth to these Dev events shortly, and some things to stumble across ect..
as for whats goin on now?...basicly you need 7500 loyalty points for the Bane to take a quest from them! that makes you an actual member of the Bane! with your own personalized distorted version of the Book of Truth, there was a time when you could gain points for killing the ophidians, but as it stands now! meers are your only option...why? we dont know yet because they failed to give us any fiction about it..killing meers get you 3 loyalty points per meer..so yea! lotsa slaying to be done for no reason atm other then to get the personalized twinkly, no story as to why we are killing them
hope my rambling helped some