What is Redemptionperiod?

A domain name is placed in REDEMPTIONPERIOD status when a registrar requests the deletion of a name that is not within the Add Grace Period.
A name that is in REDEMPTIONPERIOD status will not be included in the zone file. A registrar can not modify or purge a name in EDEMPTIONPERIOD status. The only action a registrar can take on a name in  REDEMPTIONPERIOD is to request that it be restored.
Any other registrar requests to modify or otherwise update the domain will be rejected. Unless restored, the domain will be held in REDEMPTIONPERIOD status for a specified number of calendar days. The current length of this Redemption Period is thirty calendar days.
For someone interested in registering previously registered - but now expiring domains: the domain will always go into REDEMPTIONPERIOD status before it is released to be re-registered.  It will remain in REDEMPTIONPERIOD status for 30 days at which time it will then move to PENDINGDELETE status.
If a domain is renewed by the original registrant during the REDEMPTIONPERIOD status, the domain will NOT go to PENDINGDELETE status.