so one of my friends is doing artfight this year, and here's what i know just from witnessing the process, basically.
the general gist of artfight is that you draw free art for people and you get free art in return! you'll probably want to write on your profile that you take friendly fire + revenge attacks you get (which will increase the likelihood for more people to come attack you most likely). and you'll actually want to attack artists and revenge artists if you say you're going to, of course, lol. you can also follow some people you want to attack or whose art you're interested in.
you'll typically want to have all your references and such uploaded before artfight starts, but if you're a little late i think you should be fine. but the likelihood of receiving attacks if you don't have full character references uploaded is a little bit more unlikely. also, you'll want to give as good as a reference as possible - all the little details you want included (a full body is the most preferable) and etc. my friend gives a description of the character or "the vibes" as well as their motifs. you can include as much information or as little as you want! but personally i think the more the better :>