The Redemption Period is a 30 day, Registry-imposed hold period for domains that occurs after your domain has expired and after the renewal grace period.

Domains will have reached the REDEMPTION PERIOD state if they have been EXPIRED for at least 40 days (and sometimes, 16 days), and were NOT renewed by the owner. Normally domains would be deleted at this point, but the REDEMPTION PERIOD provides the owner with one last chance to recover the domain before it is dropped and potentially re-registered by a new owner.