When you get level 50 in WildStar The most noticeable change will appear on your experience bar, where you stop earning experience point. But, you start earning Elder points for every task and kill that would award you with experience points. For every 75k Elder Points you get 1 Elder Gem, used to purchase various items and unlocks at the Elder Gem vendor in Illium / Thayd. Weekly cap is 140 elder gems or 10.5 million Elder Points.
It will take weeks to buy everything, so you should make a priority list. The item (Genesis Key – 150 Elder gems) which starts the attunement chain for raids is usually the very first choice, followed by AMP Power Upgrade (320 Elder gems), Ability Tier Points unlocks (400 Elder gems), and Mounts but it’s really up to your preferences. One of the really important things to do is boosting your housing decor bonus XP modifiers, or you can befriend someone who has more, become neighbors, and log out at his place.
1.Use experience boosts bought at the renown vendor (you have to be in a guild with a perk that unlocks those boosts)
2.Cook or buy Special Meals
3.Don’t forget to fill your gear with runes
4.Always logout in your housing area (or your neighbour’s housing – if he has more rested XP bonus).
5.War of the Wilds and Crimelords of the Whitevale are the best adventures to run for reputation and Elder Points –they are much quicker and easier compared to rest.
6.Get social – befriend people which pursue the same goal in dungeons, raid attunements or PvP; or get into a guild that suits you
7.Items from Malgrave reputation vendor are a good start. You don’t need much more to begin with veteran adventures.
– Source from: http://www.fondgold.com/news/game-WildStar-1614/WildStar-Elder-Gem-Tips-12451