Elektron's Model:Cycles is part of their budget range of instruments, with Model:Samples being the other, that aim to bring the Elektron workflow into a more affordable product. With reduced features, such as the deeper editing and multiple audio outputs of the more costly siblings.
Model:Cycles is a six voice FM Groovebox which uses the concept of machines, like many Elektron instruments, with the focus on FM synthesis. The sequencer follows the Elektron concept of parameter locking - which they have pioneered and made extremely usable - with each step (up to 64) being an independent state or snapshot.
The 6 machines are:
Each machine is surprisingly versatile, with six sound control parameters: Pitch and Decay - these are self explanatory. The remaining four are specific to each machine and represent macros of multiple parameters: Color, Shape, Sweep, Contour.
There's an LFO per track and master Delay and Reverb Send per Track - these effects are pretty nice.
Edd took a look in this video for Sonic LAB - and despite his trepidation of taking on an Elektron product, (they have a notoriously steep learning curve) found it much more straightforward than he imagined. Providing a quick way to access the Elektron sequencer and a world of FM sounds.