Is it possible to have Leagues and Challanges on XMage?

Is it possible to test a new feature that gives players the opportunity to meet each other like on MTGO Leagues?
I don't know if it's legal. I'm talking about a server that has the feature to play with other players choosen at random, for a maximum of 5 matches, with a little entry fee and some prizes, maybe coupons to use in an online marketplace that sponsors the "XMage League".
Players pay the entry fee for each format, that lasts an entire week. At the end of the week, they can redeem prizes based on their results in each league. I don't know if MTGO's Leagues work like this.
Once a month there would be a Challenge for each format (or maybe two of them per format, so players from different nations can play) with a bigger entry fee and bigger prizes, that starts and ends the same day, or that lasts for more than one day in order to give "busy" players the chance to play if they can't dedicate too much hours a day to the game.
If this idea can work, we need also an internal regulation. For example, using Cockatrice to end the match if there is a bug during the game.
I don't know if it's legal. I'm talking about a server that has the feature to play with other players choosen at random, for a maximum of 5 matches, with a little entry fee and some prizes, maybe coupons to use in an online marketplace that sponsors the "XMage League".
Players pay the entry fee for each format, that lasts an entire week. At the end of the week, they can redeem prizes based on their results in each league. I don't know if MTGO's Leagues work like this.
Once a month there would be a Challenge for each format (or maybe two of them per format, so players from different nations can play) with a bigger entry fee and bigger prizes, that starts and ends the same day, or that lasts for more than one day in order to give "busy" players the chance to play if they can't dedicate too much hours a day to the game.
If this idea can work, we need also an internal regulation. For example, using Cockatrice to end the match if there is a bug during the game.