Do I understand authentication using JWT correctly?

Question

API

there is a certain api in which requests are authorized using JWT and I need to receive data from the API, therefore I need to have a JWT token, my
current understanding is as follows:
information about me, the user in payload and signature in which the same info is encrypted as in payload using the secret key which is stored on back
2. I save the JWT token received during user authentication and use it every time I access the API, specifying it in the headers
correctly did you understand the big picture?

Answer 1

Yes.
But there is also step number 3: in response to each request, you receive an updated token with an extended lifetime, which must be used for the next request.