What does a memory with Matrix effect do?

With matrix when you successfully dodge time will slow down.

Memories with Matrix Effect like 5* Aife, 6* Hanna. Whenever you do 3 ping, you enter Matrix state, similar situation as Extreme Dodging. This memories allows you to enter Matrix (in total) 2 times in a row. Matrix state slows down environment and lets you move around and deal damage without you getting hurt but avoid continuous laser beams as they tend to pack a punch.