Using setparam with abstractions in Gen Codebox

Answer here: https://cycling74.com/forums/loading-an-abstraction-and-its-params-in-a-codebox

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I'm trying to load an abstraction with params inside codebox, trying to replicate the functionality of setparam outside of codebox. It seems as though I have to add inputs to my abstraction and name the params as the inputs, ie make an abstraction with two inputs and one output and call it in codebox:

out1 = abstraction(param1, param2);

Is there something I'm missing? When I do the param - input approach, does this mean that those params get updated at sample rate rather than block rate?