Event discounts are one-time discounts that can be applied to any events. Here's how to generate a discount code
Select 'Create a Discount' from the 'Events' section
Specify the name of the discount. This will auto-generate a discount code, which is basically the discount name, formatted to be code-friendly
Specify the amount of the discount
'Activate' : You can toggle this discount code on or off. For example, after an event is completed, you would deactivate this code, so members will not be able to use it for future events.