It is entirely analog with true bypass. It uses a state variable filter to split your signal into two separate signals - low and high. The cross-over frequency knob lets you select where in the spectrum you want to split your signal. It has a massive sweep range of 44Hz to 3.3kHz so you can focus on just the lowest lows, the highest highs, and all points in between. Once the cross-over splits your signal into low and high, each is sent to its own separate optical compressor circuit. This pedal actually has two completely independent optical compressors. The high signal has its own compressor and the low signal has its own compressor. This allows you to put as much or as little compression as you need on each of the frequencies. And because it's optical, you get the fast and transparent compression that is preferred on bass and acoustic guitar, or electric players who don't want their tone squished.
This is not an EQ per se, but because you can control the volume level of each frequency, you can use it as such. This, in addition to being able to adjust the level of compression on each frequency, allows you to sculpt and enhance your tone in a way that the typical single band compressor just can't even come close to, no matter how many knobs and switches it has.
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