I really think it should be one Pokemon eliminated per round for the top 10. And no more that 1 round per day (unless the following round is the finale and last 24 hours).
And of course, I'm strongly in favor of rounds lasting at least 8 hours. I really like participating in these contests but I do have a job and don't get to use the internet while I'm working. And longer rounds mean opportunity for more people to participate.
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"Coinflip is sacred."