I’m not very articulate but I’ll try to explain the best I can.
I think the easiest way to describe is a lot like pre-signal. In talking about bits, if you compare a straight shanked bit to one with the same length of shank but curved back, it’s said to create a pre-signal. The rein chains provide that as well as they are ridden on a loose rein.
The chains slow the signal to the bit yet the horse can still feel it. Too long of chains for the weight of the reins and, or ridden too loose though, I find horses tend to “get lost”. There’s no advantage to riding a super long draped rein or really long chains, in my opinion.
As I mentioned above, in the show pen, I want an immediate response. I take the chains off completely. Quicker feel to the bit.