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Yes! Every change change detected in the position of the joystick will send a key event.
But, for the moment, arrows key events are not yet supported, though we are very close to being able to implement them.
For the moment we have a beta version that you can set to trigger letters, number, and some punctuation symbols, and use CTRL/CMD, ALT, or SHIFT as modifiers with them.
Keyboard functionality seems kind of complex when you try to accommodate to several possible keyboard layouts.
We’re aware that we need to document this feature better in the manual, and we will soon