Fame should be the reward
This format will S U C K. The game is unbalanced. Dread Drake will proc and kill my Evolved Spirit Mage lvl 200 before it reaches 100 energy. So if you dont have the latest heros your screwed. I have 112,000 might and all 6 of my guys cant kill a vlad and dread during the last Guild Wars. The game is messed up when heros proc before they are even hit! Fix the dam game!
This is a combo of LR tower system and lost battlefield 3 group system. This is nothing really new. I would do this for fame. I don't really need hb or merits. This mode is more for f2p players. So if I were f2p I would push for this to come out asap!
IGG you have already ruined guild wars with the creation of super guilds. Try being a guild ranked 50 going against the big money too 10 guilds it's quite worthless. Please don't do the ranking system the same way for this. You literally have created the battle to not get into top 50 guilds.
In the next update I think IGG should make an auction house, where you can buy heroes with gems or maybe even fame. It would be helpful to people who do not have enough money to afford gems. You could use it by putting heroes up for auction and letting people bid on them. To make it more organized you could put a "buy now price," and a "starting bid" for when you are selling the heroes.