Btw one thing I forgot to ask, what plans are there for the grand prize? I.e. how will it be distributed in the sense of how much of it will the winner get and how many winners will there be? I prefer a somewhat long tail myself where as many as possible earn something at least with the top 3 still earning the biggest chunk.
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It will be in a ratio, to ensure it is easily divided. The top 3 take the bigger chunk while 4-10th take consolation prizes. It will be according to a ratio of something like 6:4:2:1(first 4) and then 5th to 10th take 0.5 ratio each.
So basically;
1st takes 6/16 of the total prize pool
2nd takes 4/16
3rd 2/16
4th 1/16
5th to 10th take 0.5/16 each
It is still subject to adjustment if required but we're working with this kind of idea to ensure that the reward can easily be divided among winners.