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Will the .io domain cease to exist? | Tuta
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No.
Why would Mauritius turn down a source of revenue?
Because .io is the top level country code domain for the British Indian Ocean Territory, and once a country ceases to exist, the top level domain is supposed to be phased out according to the IANA rules and eventually discontinued by the ICANN.
There are no .yu, .dd, .cs, or .tp domains left. The only exception I know is .su (soviet union).
There's plenty of non country domains too. Just make it into some acronym or have it mean I/O or whatever.
IIRC two letter domains are reserved for country specific domains, the non-country domains start with three letters.