It's ok to have a belt restriction, but matching people based on qi would't work. You could add something like rank groups (most competitive games do stuff like this, lol, smite, csgo, etc) to match people with oponents with similar skills.
Belt/qi doesn't really matter...
Having a weekly reward seems better than one reward per season. It will also force players to be more active.
weekly rewards for top n players
Top ten would be nice.
Unranked matchmaking should be added as well. Maybe people don't want it now, but after ranked matchmaking is realesed, some might want to have a similar, more casual experience.
(3 months for season length)
That seems a bit too much, but ok. Also there could be something for the player with the best overall rank at the end of the season.
One last thing:
No mod choice - players get to fight in randomly selected mods
There could be diferent categories for ranked matches, like sambo, grappling, etc. So the mods in the category are somewhat similar. Idk