I don't know what does reputation do currently. I heard that it is required to wear their vanity set.
I suggest when you reached maximum reputation for Eldevin Army, you will unlock a shop that sell Eldevin Army Prestige set (bind on pick up) and a small buff that last for 1 hour. They can be purchased with either gold or reputation token. Make the buff special so that when player die, it will not be removed, just like exp potion. I imagine the buff will be very useful in battling world bosses. It should be convenient but not overpowered, even if it give very tiny stat increase will do.
I recalled that when I first entered Academy of Varuna, I was told that they possess powerful healing ability and can summon strong familiar. This give me an idea for the buff for Fellowship of Varuna: a tiny healing over time buff. But this is just a rough idea and I don't want it to affect PvE and PvP much.
I got this idea from another game.
Edited by D4VYJONES, 09 January 2014 - 06:46.