speed coarse
set the speed of the buffer playback. left plays back at regular speed. scrolling right increases the speed and then once again decreases to a full stop.
speed fine
the center position (led green) will play the buffer at normal speed. rotating left will play at half speed and rotating right will play at double speed.
filter
control the filter of the tape effect.
resonance
control the resonance on the tape filter.
pro-tip: sending midi cc simultaneously to parameters 1 and 2 can result in some cool scratching effects.