I literally just put a paracord lanyard on my hatchet. Only about 3 inches. Undecided on it though
As Harvestman says, if you want to live long and prosper .. take it off
A lanyard on an axe or hatchet is a self-harming incident just waiting to happen.
I will only ever use a lanyard on even a knife if it is forward posistion, like on a competition cutting knife. A 'traditional' lanyard hole at the butt-end of a handle is of no use or interest to me, unless it is to be used simply for hanging the tool up after use, or for the addition of a small toggle or monkeys fist to facilitate withdrawal from a deep 'pocket' type sheath.
Competition cutting knives must have a lanyard to comly with BladeSports regulations, but the wise always fit the lanyard from the front of the handle so that if the knife slips from the hand it is pushed back into the palm by the lanyard. A rear fitted lanyard simply makes the knife/axe into a sharpened swinging flail that's loosely attached to your wrist should you ever loose your grip on the handle during use.