see here:
https://tld-list.com/tld/io
My namecheap .io domains currently renew at about $35. I was surprised to see $45 when I went to transfer them.
I find it hard to imagine that .io domains are being subsidized at such high percentages… why on earth would namecheap lose out on $10/yr per .io domain if they didnt have to? Not to mention the other ones that renew lower as well.