For this I'm inspired by the Master Sword from Link to the Past, where if you keep your life meter full it shoots beams. But if you make a mistake and take a hit, the sword is still good but suddenly less effective than you know it can be. I like mechanics like this because you can have everything without spending any money but in exchange you have to become good at the game. I get double satisfaction-- I'm good at the game, and my skill lets me enjoy "deluxe" features for free!
That's all well and good, but the thing is that it doesn't help Orymus3 pay the bills. Ultimately, a free-to-play game hopes to make the dev some money, and if that's the case the goal is to somehow entice players to buy something. Once you've gone down that path, your design -- which ought to include 'monetization design' pretty-much necessarily *shouldn't* reward players just for being good or persistent -- all that really does is say "I give my game away to people who are good or have more time than you. You're terrible or have better things to do, so you have to pay." If your goal is to make money, there's no reason to preferentially incentive good/persistent players in this way over any other type of player; if your goal is to have a large, happy user base, you ought to just make the thing free, period. Outside of mobile/app stores one can hope to make some money on the initial sale, but its an impossibility in today's overcrowded ecosystems unless you're a big name AAA title. The game design must be built to facilitate monetization strategies (even if they're entirely optional for the player to partake in) from its base, it affects gameplay and design decisions, and if you pretend they're independent its likely you'll not make any money. For example, purely cosmetic purchases are far less viable when those purchases are not visible to other players. Likewise, people won't pay big money for items that don't persist with long-term play.
From what I've read around various places, an app that is able to monetize well makes about 50+ percent of its revenue from consumable items, ~30 percent from premium purchases (persistent items), and ~20 percent from cosmetic purchases -- those are games who's play integrates all of the driving factors well (a social aspect, persistence, etc).
Now, from the sound of it, what Orymus3 has is a single-player, non-social, (probably) largely non-persistent adventure game, and to be frank that seems to be kind of a perfect storm for the free-to-play model -- "successful" games in this vein might be popular but make very low return-per-player (the big boys call it ARPU, Average Revenue Per User) so they subsist on the shear size of their user base. If you cannot achieve such a large user base, low ARPU won't be paying your bills. With a lower user base, you need to maximize ARPU if money is a goal, and that means creating monetization potential in the game -- integrating social aspects, multi-player, persistence, and designing to encourage steady purchase of consumables (which includes, of course, pricing them fairly).