It'll instantly expand the URL to its canonical form, e.g.
https://github.com/sass/libsass/blob/master/parser.cpp#L29-L...
to
https://github.com/sass/libsass/blob/fca1f75a14fe5336c7b1a4b...
which stays valid indefinitely (unless the commit is deleted from the repo).
P.S. Hit the ? key for more keyboard awesomeness. :)