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Single Elimination

I would like to see the Olympic system (playoff) in my club in addition to the arena and the Swiss system. Is this possible in the future?
A similar system is used in the FIDE World Cup. After each round, half of the participants drop out.
Single elimination is a good format for a very large number of players and few rounds. Most of the players are eliminated quickly: 50% after 1 game, 25% after 2 games and so on.
In arena or swiss everybody gets to play games till the end of the tournament.

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