My webapplication concept is all about some kinds of contests in which users can participate. Each contest has a minimal amount of information that will be displayed while viewing the list. As for now, my homepage simply consists of a header and a huge slider explaining how the site works.
My personal opinion on this: For new users, I think the separate page would be better, as it keeps two aspects of the site separated. Experienced users though may want to go directly to the contest-list and could be bothered by having to go to another page.
Here an image to explain the difference: http://imgur.com/a/kdFpO