Of course we also have a knot which stops any sudden downward acceleration if the line slips (but it never slip unless the wrong line is used)

If the line is to long, or you are sailing relatively flat, you might become wet anyway of the line slips (which it doesnt do if it is correctly sized and relatively soft). But you will not be dropped completely into the water.
We have tied the knot so it also offer a loop you can slip your hand into, to get a better grip when raising yourself one-handed.

There is no problem in letting the whole cleat/ring system be pulled upwards by a bungee, so it doesn't slip out of your trapeeze hook.