Project Date is the length of time the project will run. Envelopes cannot be sent outside of the start and end dates of the project. E.g. Black Friday is only 5 days long and you want the project to end on day 5.
Envelope Expiration: Envelope expiration is set by the sender and can be set as either a length of time (i.e. 30 days, 60 days, etc.) or a specific date. When you use a length of time for your expiration date i.e. 30 days the days start with the creation of the envelope. This is important to note if you have an approval step on your project that the expiration date starts from the day you send a envelope out for approval.
The envelope expiration can extend beyond the project expiration date. You determine how long the recipient has to open and claim the envelope. Envelopes that are not claimed will expire and the value of the incentive will be returned to your account upon expiration.