Loot are based on points. Points you get them from participating in linkshell events.
There are two type of events:
1. High Rank Monsters (Monsters ranks 70+)
2. World Notorious Monsters
3. Faction Monsters

High Rank monsters event will give you 5 points, World will give 3 points and Faction will give 2 points.
All pieces from World Notorious monsters worth 15 points each.
Faction drops drops including horn are your loot your drop.
For been able to apply for a loot item you must've at least rund before that.
Items that drop from High Ranked monsters are going to the linkshell bank and be sold.
The earnings from those sells are going to be divided equally to the members who participated in the run where the item was dropped.