A dual purpose deployment line for a parachute system is disclosed. The system includes a main line and a plurality of cascading release loops disposed proximate a first end of the main line. The plurality of cascading release loops are configured to be releasably secured to an aircraft anchor ring. The deployment line includes a release pin secured to a first end of the release line, where the release pin is in communication with the plurality of cascading release loops and adapted to pull free and release the cascading release loops from the anchor ring when a parachute is deployed. An optional locking pin is adapted to selectively secure the plurality of cascading release loops in place when desired to retain the deployment line to the anchor ring when the parachute is deployed and the release pin is pulled free.