This thread will be just full of spam post from newbies who tries to get free money from your project. This is not so good for your reputation, your ANN thread should be clean from spam posts so you need to create a new thread at the Games and Rounds board for users to post what you asks to join the competition.
Otherwise, I think this thread will be deleted soon. Even worst, you have no strict rules for the competition and I will not be surprised to see more and more newbie accounts as most of the time they are just the same person with many accounts tries to get free money.