[Underwhelp]

Whats a favor mat?

I think they are referring to the Mining / Botany nodes that spawn when using the items from Red Script gathering. Red Roundstones, Blue Ooids, Dragon's Wart, Sword Leaf , ect. They come from gathering the nodes in the area after you use the Red Scrip item, from Special node spawns that occur only when the item buff is active (5 min buffs)

The resulting gathered favor materials are traded in for the crafting items to make iLVL 170, 2 Star DoL/DoH gear.