Maybe instead of AP reward, the MoM's could unlock a custom selection of armatars?
A few things should be added I think.
1. No one wins more than once year.
2. After a certain number of wins your name is added to a list of 'Most Honored' and you're no longer eligible for the prize.
3. There is no AP reward for this, seems it would encourage too much cheating.
I think that's about it, what do you guys thing?