The V-Shape is two modules in one, a wave twister and a distortion/wavefolding module. Both sections of the module are fully analog in design, and both can be used independently or normalized together in series, so that a waveform can be twisted first and then distorted and wavefolded.

The wave twister can take (for example) a sawtooth waveform as input and shape it, under manual or external voltage control, into a triangle waveform and then into a ramp waveform, producing a sound similar to PWM for sawtooths. It also works with symmetrical waveforms such as triangle and sine waves, again producing PWM-like tones.

It can produce a wave twisting effect from most waveforms (except square waves), whether symmetrical or asymmetrical. Under many conditions, the transfer function is not perfect, so different harmonics may also be generated. The offset control allows a bias to be added to the incoming waveform, either to correctly bias it around zero or offset it for more distortion and harmonics.

The second part of the V-Shape module is a distortion unit, with selectable Soft or Hard Clipping, and the clipping amount can be varied either by a front panel control or an external control voltage with the "Distort" control. The distortion offset control adds or subtracts a bias voltage to the CV signal, providing an extended range of control. There is also a single-stage, switchable wavefolder, which can be used with either soft or hard clipped waveforms.

More information can be found here:  V-Shape