tokens are long-lasting. you shouldn’t need to be creating new tokens every few weeks.
it’s a little confusing, but v1 apis require a v1 token and v2 apis require a v2 token. for v2, the button will just say “Generate API token”. v1 tokens cannot be used to call v2 apis. so either you need to have both tokens for your application to use or you need to use the correct apis for the version of tokens you generated.
also, it seems generating new tokens invalidates your previous tokens.
unless you’re talking about oauth tokens, then I would expect those to expire.