Mhm, I think that's how everyone wanted to do it - in fact, I think they wanted anyone who's reached the champ spot to be able to challenge each other for it, ehhh I'm not sure - I'd have to check back in the discussion thread, I think it's been talked about before.
I do know though, that whomever was champ, accepted it as a position, and had to retain it in accepting challenges for their position and hang around and all that.