According to Xbox Wire, Killer Instinct now has monthly Ranked Leagues.

The Ranked Leagues begin with qualifiers, which require a player to participate in 10 matches to determine their ranking in the tiered ladder system. Based on performance, players are grouped together into Bronze, Silver, or Gold Tiers, and then fight amongst themselves. The outcome of each match dictates whether players lose or gain Ladder points, which are required for players to reach the next tier, but once they make it to another Tier, players can’t fall out of it, so there’s no need to worry about a bad streak.

Kraig Kujawa of Iron Galaxy Studios goes on to explain the KILLER rules:

And once you’ve progressed to the KILLER Tier, everything changes!

KILLER Rules

Killer vs. Killer Ranked Matches are now BEST two out of three, a staple of tournament fighting.

Unlike Tournament fighting, you cannot counter-pick between rounds, keeping matches as brisk as possible.

The Killer Tier is reset every month and the Top 32 Killer players at the end of the month are rewarded PRO Status, immortalizing them in that month’s Leaderboards, in addition to unlocking special Player Card PRO stars.

The Xbox One-exclusive Killer Instinct reboot is now in its second season, which is bringing a new cast of fighters to the game. Aganos, an entirely new character to the franchise, is the most recent fighter to make it onto the roster. The next fighter for the game will be another wholly new character fans are referring to as “Ghost Girl”, who was teased at the end of Aganos’ launch trailer.