This is an interesting problem. I the same dilemma not too long ago when I was running a content crowdsourcing event. I had a 100 Steem worth of rewards to give out and in the end I opted for rewarding the top 6 with 10 Steem and another 10 with 4 Steem.
In the end, I didn't manage to get the number of entries that I wanted. But I still got something. I guess there is no right or wrong when it comes to the rewards system. I think if you want to attract the best, then you have to give good rewards for the top entries. If you want volume, then spreading into smaller rewards probably makes sense.
In addition, have to considered rewarding Steem basic income shares instead of liquid Steem?
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hi @culgin
I found SBI to complicated and most people wouldnt even know what is it. Organizing contest is already difficult and time-consuming.
ps.
you're very responsive which is absolutely great and steemit community surely will benefit by having you here.
if you would ever like to keep in touch and support each other closer, then drop me a message promib.pl@gmail.com.
This will allow us to communicate easier.
No pressure of course,
Cheers, Piotr