Notifications API - how to handle channel expiry

Notifications API - how to handle channel expiry

The Documentation doesn't give a lot of detail on how the Notification API should be used.

Am I correct that I can only open a channel for a maxmimum of 24 hours? And once the channel_expiry date has passed, I will no longer receive notifications?

What if I want to keep receiving notifications for ever (or until I disable them)?

Should I simply recreate a new channel every 24 hours?

Or can I update the existing channel?