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cool knot, thanks for sharing! My most useful knot is the trucker's hitch. It's so handy for tying down loads, I don't know how I ever lived without it: https://www.animatedknots.com/truckers-hitch-knot
I'm utterly fascinated, big knot fan and I didn't know this one, but it's a combination of parts I knew. It's really strange to me though, and it's probably a culture thing, because for this use case literally everybody I know would use a bowline knot ( https://www.animatedknots.com/bowling-knot ), possibly with an extra lock to make sure it does not untie if there's no tension. This observation comes from a French s…
The first part, up to step 6, is just a slip knot. That part could be replaced by a bowline. But the slip knot can be thrown in one-handed in the middle of the line without needing to pull the end through like a bowline. And when you're done you give it a yank and the slip knot pops out.
Step 7 is the real point of the whole thing. You're using the loop and the hook (in this example) to create a pulley system to crank your load down tight. Then the rest of the steps are a hitch to keep it in place.
This is more secure than the version than I typically see used (and would be annoying to untie). I normally don't poke the end through like in step 9, but make another slip knot so the whole thing can be unravelled by pulling on the end of the line like a quick release.