Hourly Events are one hour quests that rotate regularly. 

These Hourly Quests/ Events such as Monster Slaying, Might Growth, Troop Training, Research, Construction, Idol Investment, Resource Gathering etc. will all provide regular rewards.

Hourly Events do not give Event Tokens.

You can see the Hourly Events through the Quest Board. The Quest Board is usually accessed by tapping the third avatar found in the upper left area of your Realm Map game screen.