Looks good! I did the same but instead of knotting, I looped through and glued the both ends to form a link/circle.So, I rather impulsively did a partial defringe tonight of my Mineral Whiplash; I did not mind the lower fringes except they would get all bent up during storage - the longer ones don't get this issue so much as they don't get squished at bottom of dustbag, etc. I just cut them, retied a knot, and glued them. The ones on back aren't pretty but I was able to hide the knots on front ones "behind" the first section. See how that goes; or else I will just remove them and leave the little holes.
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Save the fringes, I used my to add on my Rogue Satchel as zipper pulls and embellished a keychain with them. (I have the oxblood saddle one which is the same color as my satchel).