Just finished the game.
To win the treasure at the end of every day, you minimally need to have at least "steel" grade and above level weapons.
For those that require lesser materials like bow and pikes, it is preferable to have them in at least "gold" and "crystal" level. of course at the start of the game it is abit hard to farm for those level.
Do use legendary weapons only when u see more of a certain elements especially at the later stages. For a start, more luck would lead to more materials and spares given out. avoid using any elemental grips,poles when the level does not have any elemental weakness
2 more will be released soon: Chrysantema and Kaamos (Kaamos will come with Combat)