The format is, as fas as I know, fairly new for Diplomacy although it is the standard in chess, go, backgammon, and many others: the Swiss System. So, why don't give it a try?
You can find the official announcement and all the informations on the Nexus Discord server at
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https://discord.com/channels/312260793519308807/457218328734466059/1326366937105825844
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https://docs.google.com/forms/d/1hD_RL_JULZqVckhtrWEtZfep0YCCRjXbGEqGzUj6j4A/edit