Drop catch
Re-registering an expired domain the moment the registry deletes it. Specialized services compete for high-value drops with millisecond-precision API calls.
The window
When a registration lapses, the registry follows a fixed timeline (grace, redemption, pending delete) before the name returns to the public pool. Drop-catchers queue at the exact moment the name becomes available.
Most go to auction
When multiple catchers bag the same name, each runs a private auction internally to figure out which one keeps it — often surfaced to public bidders.