Not really - you need a breathable fabric that will still block the wind. I'm not aware of something substantially lighter than 1.1 oz DWR. Thru-hiker.com has .9 oz Momentum 90...if you have the $$$ to drop that's what I'd go with, I guess.
You won't want to make it from Cuben b/c you need breathability. You could probably use Cuben as end caps and the bottom panel, then use Momentum 90 for the top. That could save some weight. Getting pretty expensive though. Cuben is about $20/yd. Momentum is about $12.
DWR is $4-6/yd. If you find it at Walmart it's $1/yd.
Find something cheap to prototype it, though - I bet you'll make two or three before you're happy with it. And don't forget that it'll fit each hammock differently based on that hammock's dimensions and how much sag you put in it. Then when you get a good match for your homemade hammock and Pod, make it from the real stuff.
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