The Redemption period is a 30-day, Registry-imposed period that occurs when a domain name has been expired or not renewed.
Normally domains would be deleted at this point, but the Redemption period provides the registrant owner one last chance to recover the domain before being dropped and potentially re-registered by someone else.
Any website or email services associated with a domain name that has gone into a Redemption period will stop working because all DNS entries will be removed.
There is an additional fee associated with purchasing a domain out of Redemption.
Recovering an expired domain requires a one-time $79.95 restoration fee plus the past due registration cost.