While you control Festival of Embers, abilities that trigger whenever a creature you own dies won’t trigger because those cards and tokens are never put into your graveyard.

If you discard a card while you control Festival of Embers, abilities that function when that card is discarded (such as madness) still work even though that card never reaches a graveyard. In addition, spells or abilities that check the characteristics of a discarded card can find that card in exile.

If Festival of Embers is destroyed by a spell, Festivals of Embers will be exiled and then the spell will be put into its owner’s graveyard.

When Festival of Embers’s last ability resolves, it will be exiled.