Time-based challenges are challenges where you play against other players for a set amount of time (rather than Single-Round challenges that track your performance with limited attempts over a match or game.)
In Time-based challenges, you can keep testing your skills to work your way up the leaderboard until the time has run out. Even if you do not come 1st, rewards are shared amongst other players in the leaderboard.
Time-Based Challenge Rewards.
Time-based challenges reward players based on percentage brackets, not the position you placed individually on the leaderboard. Think of it as a reward for a grouping of players instead.
Time-based challenges with monetary prizes display a breakdown of the rewards based on percentage brackets, like these two examples:
Note: Although not displayed, 41-50% brackets receive a minimum of 0.25$ or 0.50$ depending on which challenge the player took. If you are in the bottom 51- 100%, you will not be rewarded.
The best way to show how it works is to take an example of a leaderboard made of 100 players.
The total number of players (100) on the leaderboard makes 100%, so dividing it into percentage brackets (groups) is super simple. The 10% bracket lines up with positions 2-10 and so on.
The reward table for 100 player leaderboard looks like this.
So as you see with 100 people, it's clear to see what prize money you will receive.
There are situations where there are less than 100 people on the leaderboard and which changes how rewards are distributed. It usually does not affect things significantly, but if there are less than ten people on the leaderboard, it can start to look confusing.
One of the trickier cases is if there are only 3 people on the leaderboard as we now have to break up 100% of 3.
As you can see here, both 2nd and 3rd place does not receive any rewards. That's because the way percentages work, 2nd, and 3rd place are in the bottom 51-100% bracket resulting in 0$ rewards. The first place takes the top 20, 30, 40, and 50% bracket- but of course they only take the top prize.
Here is another example with 5 players in a leaderboard:
So hopefully with this information, you can now work out which brackets you fall into based on your position in the leaderboard and the number of people that participated in the challenge.