Absolute Ring Event

I don't get this event.
1. How do I claim the medal for getting the first ring done? Do I have wait until Phase 1 ends tomorrow, or is Gaga just being dumb?
2. I have the fully upgraded ring I. Is it just there, or do I have to get all 3 tradeable rings and combine them into the absolute ring? Or do I get the absolute ring based on the number of completed days I have, so I end up with 3 evo rings and an absolute ring?

1. You have to wait until August 19, the "rewards phase" to get your medal.
2. The event description says the three rings are combined to make the Absolute ring. We understand this to mean you have to have three rings and they will be consumed to make the Absolute Ring. But Nexon has been illogical and inconsistent in this event already, so it's hard to be sure anymore.