This event is a 2 phase event: Day1 - Treasure hunt, gather those chests to gain inner fires. Day 2 - is the battle phase.
Each team starts with 21k acres. You will be attacking players of other teams and if successful, you steal their acres.
A good strategy I find works for me that I found on a few other sites:
1) First - find yourself an hour-hour and a half of uninterrupted time.
2) Spend 8 energy packs to get 80 energy (can do the 100 energy as well)
3) If you have loads of inners, you can use 3 dragons, put an inner on each dragon
4) Rinse and repeat when the energy resets the next day.
Keep in mind that players on the other teams will be hitting you and your team as well to steal yours. Don't make it easy for them, boost your monuments and feed your perches.
If you have any other tips, feel free to post in the comments. Good luck and Happy hunting!