The latest update for Paladins, titled Dragon's Call, contains the usual abundance of balancing changes and new content, but the killer feature here is definitely the game's brand new 4v4 game mode.
The established ruleset for Dragon's Call is reasonably simple: players have to carry the Warder's Key Sphere into the opposing team's Vault four times to win. It's a sort of a reverse capture-the-flag game mode, where players handling the magical thingamajig will be weakened to make them an easier target.
Aside from Dragon's Call, Hi-Rez have also used the opportunity to open up a new Vault Store mechanic, where previous limited-time premium skins for champions will be made available from time to time, and could be purchased through the use of Vault Keys. With 1.4, a number of entirely new premium skins has also been released, each of which will set you back for 600 Crystals for the duration of Dragon's Call event.
Paladins Patch Notes 1.4 Highlights
Here is a succinct summary of what to expect in Update 14, aside from the Dragon's Call game mode:
-changed Daily Login rotation from 28 to 14 days
-various character customisation additions (event-exclusive, for the most part)
-Mid-Season champion balancing pass, complete with various bug fixes
-Party Leaders can no longer get queued for ranked if there’s an unqualified player in their party
-fixed an issue in ranked matchmaking where a user could select a champion they don’t own, which would cause the game to abort
Naturally, the entirety of the update's changelog is far more exhaustive and has been published via the game's Steam blog, in case you're curious.