Guild Wars 2

I’d like to know just how to initiate the event and just what I need in terms of the key to unlock it and what I’ll need in gold. It would also help to know ‘where’ to start it too, I’m completely lost.

Here is what I was ‘told’:
I need 150 favor and 100g

or

I need some sort of token and 400g

I dunno what is right and I could use some actual information instead of hearsay.

Enter the guild initiative building n LA turn left and talk to one of the nice NPCs.
Choose a GH, pay 100g and 150 favor.
Then you need to go fight for the hall with a team of players who have HoT.
You can have as many attempts as you like without paying more.

I’ve not heard of the second option of 400g and token that you mention.