Loyalty Points (LP) are accumulated slowly over time, but they can be spent on very powerful Weapons, Armor, and Vehicles that aren't available anywhere else in the game. You'll earn loyalty points by getting your daily Gamer Points, and can also be earned when purchasing Favor Points.
You'll start off in the lowest Loyalty Tier with the ability to buy only from the Bronze Tier of loyalty items. As you earn more LP you'll advance through the tiers Silver, Gold, Platinum, Diamond, and lastly Alexandrite, where the best loyalty items can be acquired.
Note: Your progress through the Tiers can fluctuate depending on periods of gameplay and Favor Point purchasing inactivity. As you get to the higher Loyalty Tiers progress through the tier is weighted more heavily on purchases.
Additionally, players who reach the Platinum Loyalty Tier will unlock the ability to purchase Favor Points as gifts for their friends. Sending Favor Point gifts to other players will also earn you Loyalty Points -- it pays to be kind! Note: purchasing Favor Points as a gift only provides Loyalty Points to the purchaser, not to the recipient.