This video breaks down Cleanflight's failsafe configuration so that you can understand it. Cleanflight's failsafe has two stages. Stage 1 occurs when the receiver indicates that radio link is lost. The purpose of stage 1 is to give the radio link a chance to come back quickly. If the radio link doesn't come back, then stage 2 failsafe activates, in which the copter can either shut down entirely, or try to auto-land.