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I go back and forth on liners. Sometimes you need them to add thickness to your handle, sometimes they can be used to sort of flatten things out, sometimes they are used to add a little bit of strength to a fragile material, sometimes they are just there for looks! Sometimes I get sick of trying to choose a color combination and just go with no liners and lately I've been pleased with that!
I have a couple of fixed blades (CPK, OK&T) with wood handles and CF liners. I'd assume they add mechanical stability and corrosion resistance (tang oil coating not soaked up by the wood?). Not sure though. Wonder what the manufacturers would say ....
i always imagined the vulcanized paper liners to be a softer buffer material between the stiff steel and stag / micarta, to soften the effects of humidity, age and temperature dimensional changes.