Every Event challenge you complete nets you 1-2 levels of the event.
I believe you can reach level 10 of the event this week, your challenges should take you to level 7 and the final challenge is worth three (unconfirmed).
Though you get XP grants, it appears those cannot be applied to the event levels. The XP on event weeklies goes toward your normal Battlepass.
EDIT:
Okay yall, may have been wrong about a couple things so I’m going to work on figuring out how this actually works.
Thank you, good to know it will only take three weeks of events to unlock it all. Wonder if it will be Fiesta every time…
No problem. Probably. That’s just for the pass though, and the armor everyone likes is nowhere on it. That said, there is some cool stuff near level 30.
“only”
the boot licking is unreal.
Ah I didn’t realise that, I haven’t been able to look yet. That’s a shame. I didn’t expect to get everything for free but I suppose some bits is nice too. Maybe I’ll buy something in future fracture events depending on the theme.
I just like having challenges to do tbh. The bonus Fiesta playlist will be fun.
I have 6 of those weeklies and only gain one level (don’t have Premium). Just FYI.
I’ve only completed 2 event challenges, and gained 2 levels on the Event BP, where are you getting the info that two event challenges = 4 levels?
Are you sure you completed 2?
Hmm, I may have been mistaken. Let me finish another challenge and do some math.
I’ll be on in 10 mins I’ll let you know 
Get a Double kill in Fiesta and get 10 kills in Fiesta, yeah I completed them both.
I’ve just had a thought there are different levels to the challenges right so maybe someone has completed the more advanced ones for example.
That’s a good point. I am just trying to figure out how it all adds up to 10, if that. I may have 6 challenges as well but I thought I completed 1 and now I have 4. Maybe the final one counts as a few levels…
One is definitely legendary I have to stop 5 sprees in Fiesta which sounds awful lol. We will see how easy or hard that is I assume I have to kill someone on a 4 kill streak.
Most people won’t have their challenges as they need to do the other non event ones too.
You can always check all your challenges though.
i did two event challenges and it didn’t give me anymore what’s up with that?
Are you sure they were event challenges or were they normal challenges?
they were event for sure
might be bugged for me idk
It most likely gives you your weekly challenges at random, and you just have to complete them to hope to get your other event challenges.