A basic challenge with fantasy and SciFi stories is that they take place in imaginary worlds with special rules and extraordinary beings and events that have to be defined and explained before anyone can comprehend what is going on.
Alas, this logline is overloaded with "WTF?" elements that have to be? explained before it's possible to understand what the story is about.? Like:
>>mythical time
"Mythical"?
>>in precolonial America
Where? in North America, Central America, South America
>>race of demons
Where did they come from?
>>killing humans in their sleep and replacing them with duplicates
What triggered them to start doing that? What is the point, the purpose of their replacing humans?
>>to stop the monsters
How is that even remotely possible?? How will brokering an alliance with rival tribes make any difference?? Mere humans are going up against magical monsters.
A logline should raise curiosity about? how the plot ends, not questions about what the plot is about.
fwiw