I'll take a shot at guessing the intent of the web page :
The {VALUE} placeholder may be used to trigger the receiving page (CGI App) to insert a pre-defined {VALUE} at a pre-determined place or places in response to the clicked item.
Without more page context, I cannot speculate further.
"There are only two truly infinite things. The universe and stupidity, and I'm not too sure about the universe"- Albert Einstein
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