# Deposit Duration

The admin sets the duration during which the club can accept deposits.

* This can be altered after the creation of a club, but changes require an on-chain transaction with gas fees.

**TIPS:**

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We recommend that you set a deposit period longer than you expect to collect all of the funds and give your club some buffer. Do not choose the date the club is created as the club will close to deposits at the end of the day.
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That said, users may find it more convenient to have shorter fundraising periods to easily track ownership of club assets and simplify distributions to club members. If you'd like to welcome members over a longer time horizon, you might consider setting up multiple investment clubs for each cohort (e.g. one club per month) that members could join on a regular basis. Syndicate recommends that all investment clubs consult with their own tax and legal counsel to determine the best structure for their particular situation.
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That said, we do not condone setting extra long fundraising periods, as they can pose an issue when clubs invest in illiquid assets. For example:

1. You raise $100,000 out of a $200,000 deposit cap and purchase an NFT. The other $100,000 is available for deposit over a year long period.
2. Before the year long period ends, the NFT increases in value and is now worth $1,000,000.
3. Because $100,000 remains unallocated, someone can now purchase $500,000 worth of the NFT for $100,000 by buying 50% ownership of the club.

Thus, if you'd like to extend your investing practice, we recommend structuring your investing similar to that of a rolling fund. For example, you could set up multiple investment clubs for each cohort (e.g. one club per month) and then have members join on a regular basis. This structure will dampen the effect of ETH price fluctuations and ensure that members who buy high-value assets are rewarded for the upside.
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