🚨 Important Updates for Round 2

Can you explain how the calculation of the private leaderboard is done, please?
So here’s how I understand it:
all submissions are run on the private test set and ranked by score.
This means one candidate may have submission x rank high on public leaderboard and submission y rank high on private leaderboard.
Another way it could be implemented would be that whatever solution is ranked high on the public leaderboard is then evaluated on the private test set and other submissions are ignored.
Which one is it?