In reply to Richmond_Mike:
> I'm thinking of the chain that links two bolts on a sport anchor and wondered why I'd never seen a length of chain looped around a block or tree.
You just haven't climbed at enough crags...
There's a very old chain around a block at the top of Gimmer Crag and there are some relatively new chains in place around blocks at Lower Sharpnose Point.
However, as already mentioned, for trees, plastic covered cables are probably the better option.
Although with either option it's definitely worth glueing any maillons shut (superglue or araldite) as rather annoyingly fixed gear can occasionally disappear