The voting process seems short enough, I think it need at least 1 week or even 2 weeks since people might forgot, busy etc.
I am also in favor of 2 weeks period for voting.
After considering the feedback it actually ends up making sense. Considering not only this will be a small event, we would need to have a good sample of time in order to gather enough feedback to have a clear winner.
Tl; dr: my suggestion is to
extend voting period to 2 weeks, set an eligibility rule allowing
only users which earned at least 30 merits and 30 activity (no matter the rank),
forbid merit sending from nominees to those which voted for them; and
allow eventual sponsors to hold their funds and personally send them to winners

This is a great contribution (again) Gazeta, and shame on me not even considering taking some rules - and tweak them according to the scale of this contest - from the already well organized event that was Bitcointalk Community Awards. I suppose that the rule to forbid merit sending from nominees to the ones who voted for them is to prevent users to vote in X user because he knows that there's a high chance of receiving merit from him/her correct?
As for the required merit & activity for the contest, the suggestion from Helena Yu, yourself and CryptoHeadlineNews totally makes sense and it's far more balanced than the one I proposed. I think that 10 merit is too low as a requirement because I really would like to send a message to users that if they want to take part in this awesome contest they should try their best in making positive and informative actions whithin our community, thus earning them well deserved merit, activity and thus providing an organic growth to the platform. That is why I'm more geared towards values around 30 merit & 30 activity than lower ones, even if that means that we do end up loosing some participants (and even so, if you are really confident that you would make a great entry, I don't see earning the required amount of merits such a herculean task.)
As for the prizes, I think that having multiple users/sponsors holding their funds may make the distribution of the prizes a tad more difficult regarding each user sending Y amount to each of the winners (considering 60 % for 1st place, 30% for 2nd and 10% for 3rd), but that's easily achievable by a good spreadsheet and management. I'll also apply this criteria to the pot

Things are looking great guys! We're having great points being discussed, and I'm really seeing this contest being able to be launched right on time! I'm building the thread as of now, still open to suggestions until 13/02/2023 23:59 GMT