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Might be all it needs?
I was thinking a recessed screw run up through the bottom and a knurled-nut on top would be a great tension-adjustment on a bench-strop. A hinge or something might be...

Not really a table-strop, but I saw this on the fleabay a while back and thought it was pretty neat. Adjust tension with the thumb......

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There is some black foam between the wood and the strop.
Earlier ones have felt there. A little 'give'.

I dig my Lipshaw strops. Certainly overkill, but the strops can be flipped-over or changed out quickly as-desired.

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I use them for progressive stropping after honing at the shop.
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