Savelii Kaliupanov has released Deregulator, a stereo effects processor for iOS. Here's the details as seen on the App Store page:
Deregulator is a mini-processor of stereo effects with Echo, Delay and Reverberator. Input signal goes to echo and delay simultaneously. Then delayed and echoed signal lands into reverberator. All parameters of this effects may be randomised at once and some key parameters can be randomised dynamically all time. On output we have wide effects range from simple mono echo/delay/reverb and combinations to near granulation live when remains of sounds create nebula around original input and like morning mist its blurring and smudging sound into scape of something new, vibrant and beautiful (degree of beautifulness depends on what you feed in D).
Delay just repeat sound pieces and size of every piece can be randomised, this chop and remix original sound into sometimes very glitchy, something new. Echo behaves like a usual echo unless you start randomising delay and feedback parameters. Reverb have three parameters, room size, damping and wetness of output. Off course all of them are randomisible. Randomising its a root of conception in this little app.
Compatible with iPhone, iPad, and iPod touch. This app is optimized for iPhone 5.
Pricing and Availability:
A new plug-in for creating 3d spaces on your regular headphones