[1.2.400] Dojo Revamp

So what determined your rank?(points, time, or something else entirely?)

Good question. I'm not completely sure but it might be determined on how fast you do it. When you start, the timer starts at 0:00 (but that doesn't mean you have all the time in the world to kill a boss. There IS a timer bar for each stage and gets reset each stage).
It can't be points cause it seems like the point system was wiped out entirely. To obtain the the new belts, you need proof of valors, which drop from the last boss before the pit stop. I only went up to stage 10 or so and it seems like they only drop a fixed amount of 3. It MAY drop more if you go deeper in dojo.

Seems like it's dependent on the difficulty. I got 5 on Challenge mode and 3 on Easy.