The Effects settings panel allows you to set rounded corners on objects like an image, gallery, or shape. It is also where you can add drop shadows to objects on your site.
Effects Rounded Corners can be applied to:
Full rounding on an image will create a circle if the object is a square proportion, as seen by the grey example below.
Corner rounding allows you to adjust the rounding radius which can also be adjusted, as shown by the black square below.