Vale smiled at the names of these contests.
In simple words, the Labyrinth of Secrets was a maze challenge. The maze was filled with traps, puzzles, and enemies that required the use of specific escape, detection, or movement arts to finish. The winner was the one who could escape the maze first or the one who could go the farthest in the allotted time.
The Mirage of Wonders was an illusion challenge. This contest has an individual run and a group run. In this challenge, the contestants must break the illusions and find the treasure that the organizers had prepared. Apparently, to ensure that the students would be excited about this, the organizers would always place low-grade or even mid-grade Royal Rank Mystical Items as a reward. This wasn't even part of the real awards to be given to the winners. Of course, it was also a tactic to promote the sponsors of this Competition.