Yup at it's most basic. But I have a mini crab on the other end doing the same. For bigger trees I have a sling that goes around the tree then I go through a loop in the sling - makes setting up easier.
ah see now a crab is technically hardwear and probably weighs the same as two dutch clips. Seriously though i have tried that setup and for my superfly it just doesnt really work. just not enough grab in a constriction knot on dyneema to get it drum tight. My OCD wont allow creases in my tarp