All domain can be registered for 1 to 10 years subsription, after expiration you have 30 days to renew it as grace period.
And after that there is redemption period, this period attract restoration fee. you have to renew your domain before the redemption period to save cost.
After the redemption period the domain will be deleted and become free again that anybody can register it as the first owner lost the ownership by failing to renew it during grace period or restore it within redemption period.
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