Why would you think no one will vote after 30 days? Blog followers will be the first payout voters most likely but someone who finds post later on, maybe even after year, they still might like/vote the post. And it gives content creators long term income. So it is good to think long term when you write your content. And internet is full of articles and posts from years back, they are still helpful in most cases unless of course, content is time relevant.
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If most people don't vote after 1 day, what makes you think most people will vote 29 days later? But the difference is now you're limited to 30 days while before you weren't. Your posts now grow old and die.
Well, the way I understood is that. Now we will have 12 hours for first payout which is shorter period for post to stay on top of the post on trending page. After that period it is payed out and other post will come to visibility and they go down, but the post which has real good value keep getting votes for second period which starts after first 12 hours and so on. I think this will increase chances to more posts to get spread of votes instead only few getting major votes.