New kind of rating system for season 8

I have an idea for a new rating system that would be more forgiving, fair and balanced. I would divide the ranked community in 10 tiers of 5? divisions :

wood - rock - iron - bronze - silver - gold - platinum - diamond- master - challenger

• All games would be between the same division -No promos -Only +25 lp and -25 lp for each win or lose (instant promotion at 100 lp) -The ranked placement of each season make you start at 50 lp -10 placement matches
• First placements make you start at silver 3 (or wood 3 not sure what would be the best)
• You win a tier for each match won or lose a tier for each match lost in the first placement (no effect at wood 3), always matches in division 3 for middle value
• in later placements it's +1 or -1 division per win or loss

I want your feedback on how you would like it :) have a good day

feel free to suggest what you would change in this if you still like the general idea ;)