If I recall correctly, there is a 3/8-16 tapped hole in the spar directly underneath that rivet hole. If desired, the hole in the skin could be opened up and an eyebolt threaded into the spar. I believe the purpose was for the option of hanging the wing out of the way during the build process, or use it as a camera mount, etc. I never used mine and dropped an LP-3 into it at some point.