There is one key thing to remember when hosting a user-run awards contest on Wattpad, above anything else:

Real life is more important than your contest. Your health, happiness, work, school, etc., take priority.

Your contest shouldn't become a source of stress or monopolize your time. If you realize you have taken on too much, there is no shame in letting your participants know that you have to bow out for personal reasons. Just do the best you can to let everyone know somehow, if possible.

I hope this guide has helped you in some way. Best of luck!