Effect Menu: LV2
From Audacity Development Manual
LV2 is a more advanced evolution of the LADSPA plug-in architecture. Note that LV2 effects in Audacity cannot yet display a full graphical interface.
LV2 effects support real-time preview. They do not support import/export of presets but do support saving presets for use in Audacity only.
Most LV2 effects that have a graphical interface will show that interface by default in Audacity. Some LV2 effects do not allow directly embedding their interface into our effect dialog, so those effects will only show a textual interface in Audacity.
Some LV2 effects require features that are not yet supported in Audacity, so display an error message when applying the effect.