A recent Mandalorian tradition stretching back only a few hundred years, the Great Hunt is considered one of the keenest tests of a professional warrior's skill. While the competition has evolved over the centuries, incorporating more complex rules and greatly expanding its scope, two things have not changed: The challengers hunt each other as often as they do their quarries.
To the modern Mandalorians, the title of Grand Champion is second only in prestige to that of Mand'alor‒the Mandalorian leader. In order to earn the title, a competitor must best everything the galaxy can throw at him or her. It's not entirely uncommon for a Great Hunt to end without a surviving competitor left to hold the title. As such, the number of beings who can claim that honor is slim.