It COULD be done, I personally wouldn't go out of my way to design a
system to do that. If the system is designed properly, there will be
provisions for take up for wear. If the chain and sprockets wear
enough to get beyond the range of the tensioning mechanism, they'll
all need replacing. See the timing chains on the Porsche flat six for
such. Another feature of the mechanism is to keep the chain from
whipping around at speed.
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