It's an interesting idea. But something about the whole "leaderboard" feel of it rubs me wrong. Still, it's on FEI, not Dwilight, so...
Ick. Not a leaderboard. A rank system. I.e. when you have the big feat, the Emperor sits at the head of the table, the Ruler of the next highest realm sits to his right, and so on. In official heraldry and other matters of precedence, nobles from thus realm rank higher than those of that other realm. If the third ranked realm is a Grand Duke, the fourth ranked realm better not have a King or they will be accused of getting above themselves.
And, of course, you have the taxes to further incentivize people, though I don't know if Velax is keeping that part.
