Sound interesting. I don't know that website but if you look up the idea you should find results.
Old chess website
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Players were organised in divisions, by groups of 4. Group winner went up, group looser went down, and the two others stayed in the divisions. And that was the only available system to play online. I think it was 3 days games...
Does anyone remember something like that? Is there any website/app proposing a similar system? I thought the system was very interesting, although groups of 6 would have been more interesting...