Why did you split the process into two with no clear definition of time between? Worst idea ever.
What does 'slight waiting period' mean? Cause if its more than 5 minutes its not a short time is it...and if its days or weeks then this is retarded way to distribute. You have made two steps separated by an undefined time delay for no apparent reason.
a) Everyone must be given time to register, that is obvious, and I guess doesn't have to be explained
b) We need to know how many unclaimed stakes will there be, before we start phase two