I wouldn't mind the 20-hour wait if it wern't for the other insanities in the design. If there's going to be a cooldown for entry then the limit shouldn't be only 5 pheromone sacks. I understand it may be to fight congestion, but I figured that's why the time limit was set so low.

Also:
Why should I have to trade my tabula thing to be able to save up to 5 pheromones?
Why do i have to have a wasted inventory space if I choose to use up all my pheromones?

The event itself is fun, but why is the whole process/system of entry have so many holes in logic? Abyssea/Voidwatch did it right with a simple "you get a chance every x hours, save up to infinity, burn them whenever", but now we're back to "play the event every few days or get bent".