People can give Rep to others if they want to (normally if someone helped other person). But it doesn't actually do something (as far as I know), unfornately.
You get to feel more distinguished! (Or in my case, feel bad because I barely remember to ever give rep to people but people seem to always remember to give it to me).
Yes, you can. In fact, you could turn into RepSanta and give everybody free Rep, whatever floats your boat.
Rep, or reputation in full, is merely a number and, changing depending on how high said number is, a title under your name in forum posts and on your profile.
Rep doesn't reward you with anything, except perhaps satisfaction, but it can help SMITEfire users distinguish "active and helpful" users, since that's usually the condition on which rep is given, unless you become a RepSanta, of course.
I believe that if you get enough reps the system can auto promote you to a certain role. or well that once happened so it probably is gone now. And if not it's gonna take a load of reps.
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