Having a lot of consolation awards to keep a certain amount of people engaged is an idea that has merit, but so does having one or two outlier "jackpot" prizes (with strictly defined qualification requirements) -- it lets people aim for greatness knowing that they're likely to get at least some reward if they fail. Plus the whole gamification, gambling and the expectation of reward aspects. So first, solitary 50+S prize in the pool. Let's go with 80, maybe throw in a special badge of honour they can display on their posts with a link to your contest (revokable). Option to spread that 80 to the rest of the reward pool as bonuses if nobody manages to even qualify for your strict requirements. 20S for up to 6 "runners up" who fit the strict requirements but didn't win #1, again option to spread if not enough qualify. 5S to reward 20 others who made some efforts. Upvotes for the rest, I guess? Additionally you can offer non-monetary rewards such as entries to a list for exclusive future contests (that are limited to list entrants) as additional consolation/reward.
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BIG Thanks for sharing your opinion @eccles. I appreciate
cheers, Piotr