I have read some writing contest where pass on the story to some writers who like to continue it. But each writer has own writing pattern, so it may end up differently. But in other way, it interesting as well. 5 Steem actually can attract of writer to continue your story if you want. Too bad, i am lousy in writing, I just love to read only. 
In another way would be as you mentioned, you can continue it slowly. Say 300-500 words per post. Then build it up chapter by chapter. Each post, you provide the link for your previous chapters. It would benefit any reader who jump into your story halfway. 

These only my 2 cents thought :p