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What's nice about Namecheap is their UI doesn't suck. I've found nic.io confusing compared to my experience using Namecheap.

Why would you expect the domains to get cheaper anyway? That's not really within Namecheap's control.

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I suppose they could, in theory, negotiate a better deal with the nic.io folks, with the pitch that making it easier to register domains will increase overall registration. Like you've said, nic.io isn't the most user friendly experience. I stopped myself a few times when registering, wondering if I was indeed on the correct site (because the official domain registry for a TLD couldn't possibly be this awkward).

I guess it could be if they were to be able to buy in significant enough bulk (although not sure how much of that is already factored into the price): http://nic.io/join.html#benefits

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