Of course it is.
The photos say 1-bit and DSM
Which is 1bit SDM which is… DSD
Heh? Have you looked at a Holo DAC?
Are you currently drinking 
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Holo does not use the R2R part of the DAC for DSD. R2R doesn’t work for 1-bit DSD.
Not to excess.
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Who said they use the R2R (PCM ladder) part for DSD?
Have you looked at the DSD part?
For me a R2R ladder is totally useless to decode DSD. It’s a N bits to Volts converter. No sense to use such design for 1 bit conversion.
Do I miss something ?
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Are you commenting about the Holo DAC I shared above, showing DSD ladder circled in red?
This looks interesting but I couldn’t find any info about it yet. Where did you find the pictures from?
Has been on display at some show. See the ASR thread:
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Yes, very strange, but as I said I may missed something 
Take a look at my DSC1 design. It has 32 resistors per channel. And it is single-ended. If it would be fully balanced it would have 64 resistors per channel.
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Now we cleared up Resistor Gate , as I originally mentioned:
Unknown if it will have a true DSD bypass mode though, to bypass any internal DSP.
I’m trying to find out
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I just looked through the Cyan2 manual, I didn’t see how to switch to “Direct DSD”?
The least we can say is that the manual is very light… compared to that of the RME ADI2 
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No need to switch, it is DSD direct by default.
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Had the exact same discussion with Daiyama above in this thread:
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ok, and is it the same for all other Holo products (Spring and May)?
Cyan2 is simpler because the others actually have DSP, for PCM and DSD upsampling. DSP which you can disable of course, when using HQP.
Cyan2 has no DSP at all - it is pure NOS and nothing else.
ok, thanks for the explanations.
Regarding the Cyan2’s USB port, the connection is USB3, but does it really use the USB 3 stream or is it simply a USB2 stream?
Better to choose which USB port on a NUC PC, 2 or 3 to connect the Cyan2 (On my RME, I use USB2)
aplay -l shows USB 2.0
You can use any port but but do use a USB3 cable - strongest mechanical connection
We discussed this above in this thread
Installing of NAA OS on my RPi4 did not made an improvement, still the mild crackle.
I increased the buffer from default to 100 ms and now its gone. So all good now.
No, only the May (but not the current Spring) has the option to upsample PCM or DSD itself, but it’s (for me) not really enjoyable…
But there are some other things, that the Cyan 2 don’t has, like switching through the inputs, setting parameters for I2S (and only few devices are using here Holo Audio settings), no PLL function,…
If you need only an USB R2R DAC together with HQPlayer, then the Cyan 2 is surely a fine solution.
In this case, what are good USB 3 cables?
Well-known brands only offer audiophile USB 2