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Another thing your item might hold is a fishing pole. In some places, folks cast a line and let it settle to the bottom, put down the pole and go do something something else.... like take a nap. If a "lunker" were to take the bait, it could snatch the pole into the water, so securing an unattended pole is mandatory.
That said, the photo of the bottom indicates that it is weighted, which is appropriate for a bench stand but not so much for a fishing pole clamp.