League of Legends ranked guide - LoL ranks in order, distribution, and MMR

There's only one real way to challenge yourself in League of Legends: ranked. If you want to become the next Unkillable Demon a la King Lee 'Faker' Sang-hyeok, you'll want to know everything about MMR, how rank decays at high level, and the general rank distribution - yes, it's okay if you're sitting in either silver or gold. So, without further ado, here are all of the LoL ranks in order, as well as some explainers of key terms.