benz has the splice right - just pretend it's a very large eye splice and you can't even see the whole bight.
But to the idea - seems to me like a solution in search of a problem. The reefing clew and tack lines I keep rigged all come readily to hand and it's really no hassel to grab all three for the first reef, then two and then the last if reefing all the way.
I have a bit of a fetish against jam, cam, cram and slam cleats as they can be very hard to release if loaded, except of course when they release themselves because the loose tail of the reefing pendent has snagged on something while you tack and . . .
Now if you have only two reefs and if you work out the geometry for a single line slab reefing with the traveling blocks staggered so they don't tangle up inside the boom . . .
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