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Hi I just got two codes for the Shiny Silvally event going on and I've seen people asking for codes to trade with from past events.
My question is, is there a time limit on how long the codes are good for? Do I need to redeem them within a certain amount of time or are they good "forever"?
Also is there any benefit to redeeming a code vs having someone else redeem the code? Does it change the OT or is the OT set?
All codes have expiration dates. They're usually at the bottom of the card or receipt, but if you don't have one then you can always check online. They generally tend to end several months after the distribution ends, so you have plenty of time.
Although I'm not sure how strict the codes are. For example, I had a free theme code for my Pokemon Super Mystery Dungeon game that I got. I wanted to wait until I acquired a new, better DS to use it though. The paper said the code would expire at the beginning of this year. However, when I used it two months ago, it still worked.
Regarding your second question, no there is no benefit. Unless you have too many Wonder Cards, but you can always simply delete those and resume downloading gifts. And the OT doesn't change. A gift Pokemon will always come from where the gift is designed to come from. For example, your Shiny Silvally will always have the OT be Aether, even if a friend of yours downloads it instead.