I finally managed to read rules and it looks promising. What has me a bit worried,though, is that two lives does sound too little if there are not significantly more than 12 players. Hopefully, this won't be of any concern when more people sign up which also makes bidding way more interesting.
50% in-element is a tight restriction which I would have loved to be a bit more lenient but as we all know it does work.
Other than that I hope I am not at too big of a disadvantage since I have no idea about the conclusion of the arc. :S
The reward also looks high. Is this on top of the general participation reward system? Might be worth it to mess up my awards arrangement for. :p