Not uncommon.
Hi Freddy,
It is not uncommon to wrap the hilts in this manner, Philip Tom has recently commented that in a lot of cases the Dadao were just wrapped with cloth or rope after I asked a question of tangs.
Whilst I aggree it could promote rust, for the price of cord it can be wrapped every 6 months if it saw heavy use, I wouldn't worry about it, a little more moisture wont kill a tang that short and thick, it still has several life times left in it even if soaking wet.
I might put a few more wrapping on it though until it feels nice in the hand and would be harder for the sweat to penetrate..
Gav
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