Involved in protein translation. Together with hbs1, may function in recognizing stalled ribosomes and triggering endonucleolytic cleavage of the mRNA, a mechanism to release non-functional ribosomes and degrade damaged mRNAs. The complex formed by dom34 and hbs1 has ribonuclease activity towards double-stranded RNA substrates, but does not cleave single-stranded RNA. Acts as endonuclease; has no exonuclease activity. Increases the affinity of hbs1 for GTP, but nor for GDP. Promotes G1 progression and differentiation and is involved in mitotic and meiotic cell divisions. Monomer. Interacts with hbs1. The N-terminal domain has the RNA-binding Sm fold. It harbors the endoribonuclease activity. Belongs to the eukaryotic release factor 1 family. Pelota subfamily.