Raymon Trailray 160-Tool in rear axle?

[Elvi$]

I was just checking all the bolts on my bike and found that if you pull the rear axle on the non drive side, a tool like object pulls out. It is spring loaded and pops back in when you let go. I am new to modern bikes. Is this a tool?

 

[captaintomo]

You use it to undo the rear axle. Pull it out, push it to the side and it slots in the grooves and becomes a lever.