This post is some thought about a webnovel hosting site.
I've always really liked ao3's model where you can sort of put whatever tags you want. The tagging system on ao3 is really nice, at least in my opinion. Mixed with a system that lets users upvote/downvote tags, I think that's extremely powerful.
I've thought a little bit about alternative ways for a ranking system.
One idea is that a ranking system should reflect the active community. For instance, rank novels higher if the members who have read it are more active on the forum (or social media platform) or comment section. The idea behind this is to incentivize greater community interaction, because forum posting is in a sense directly related the visibility of a novel.
...Maybe...?
What if the forum has like 5-10 advertisement slots built into the signature section of every user. Simply by posting, it ends up marketing these novels...?