Yes, it is called
Phallosan Forte!
Now on a serious note- I am afraid there is no such thing as a wrap that should not be re-applied every now and then. There are 2 reasons:
1- If you want to keep your penis stretched, you should wrap it good so it does not turtle back. This means that you should wrap a bit tight, which by itself cuts off circulation.
2- When being stretched- the blood vessels stop delivering as much blood (and food) to the penis which makes it go numb and discolorated after time.
It is mostly point 1 that causes the negative effects of wrapping. The 2nd one- Well, it really depends in the stertching intensity. If you are hanging- whether it be constriction based or vacuum hanging- you will have to take it off every 20-50 minutes (depends on the weight and the hanger!!!). When it comes to
ADS (and especially when we're talking about the
Phallosan Forte), you just need to set a very light stretch if you want to wear it for long periods of time (without haing to take it off every now and then- just like when you are sleeping).
So, I think there is no such wrap sadly. If there is a system that uses vacuum instead of constriction- that would eliminate point 1, but it still depends on the intensity. I hope that helps.