"Yes, it's all a formality. Once you are the Knight, you are presented with gifts from those you traded with before; as a patron of the Queen's, this is an opportunity for them to repay one of their debts t the Queen, by providing the gift. You'll also likely receive a number of additional gifts, as well, I should add; there has been much speculation this last little while as to what gifts might be appropriate for you, given you lack of interest in the offers."