Holo Audio MAY DAC KTE – L1 – L2 (R2R – DSD1024)

The Art of Reference Digital-to-Analogue Conversion

The Holo Audio MAY DAC is the flagship discrete resistor ladder digital-to-analogue converter developed by HoloAudio under the direction of designer Jeff Zhu.

Created after years of research and development, MAY combines advanced digital conversion technology with an uncompromising dual-mono architecture, proprietary linear compensation and an independent linear power supply.

The result is a sophisticated two-chassis DAC intended for high-end systems where accurate conversion, musical transparency and natural expression are fundamental.

Unlike converters built around conventional integrated DAC chips, MAY employs custom discrete resistor networks for digital-to-analogue conversion. Its engineering also accommodates both PCM and native DSD through dedicated conversion structures.

Available in Level 1, Level 2 and Kitsune Tuned Edition (KTE) configurations, the MAY platform offers a carefully defined path into some of the most ambitious technology produced by HoloAudio.

A True Dual-Mono Discrete R2R Architecture

At the heart of MAY lies a true dual-mono discrete conversion system.

Each audio channel employs its own dedicated DAC module, creating a symmetrical architecture designed to preserve channel separation and precise stereo performance.

The PCM conversion path uses an advanced R2R resistor ladder network, with a separate compensation network intended to improve the accuracy of the main ladder.

Native DSD conversion uses an optimised discrete resistor network designed specifically for the characteristics of DSD data rather than simply converting DSD into PCM first.

This combination represents one of HoloAudio’s defining approaches to modern discrete digital conversion.

Separate PCM and DSD Conversion

MAY incorporates dedicated conversion structures for both major high-resolution audio formats.

• PCM: discrete R2R resistor ladder architecture with proprietary linear compensation.
• DSD: separately optimised discrete resistor conversion network.
• Dual mono: dedicated left- and right-channel conversion paths.
• Balanced operation: analogue output architecture supporting both XLR and RCA connections.

This approach allows MAY to accommodate native high-resolution PCM and DSD playback while retaining HoloAudio’s distinctive resistor-based conversion philosophy.

01 / DISCRETE CONVERSION

A Bespoke Digital Conversion Platform

MAY was engineered around dedicated discrete conversion modules rather than general-purpose commercial DAC chips.

Its resistor networks and control circuitry reflect the company’s extensive research into conversion accuracy, signal timing and analogue output performance.

The custom architecture is a defining feature of the flagship MAY platform.

Proprietary Linear Compensation Technology

One of MAY’s most important technologies is its advanced linear compensation system.

In a resistor ladder DAC, the accuracy of individual resistor values influences the precision of the analogue output.

Because physical resistors are manufactured with finite tolerances, errors can accumulate within a complex conversion network.

HoloAudio employs an additional digitally controlled compensation network to correct for deviations in the main R2R ladder.

The manufacturer describes this approach as achieving an equivalent compensation accuracy of approximately 0.00005% under its stated design methodology.

This is a manufacturer-specific engineering claim concerning the compensation technique and should not be confused with a universal tolerance specification for every individual component.

Native DSD Conversion Without PCM Conversion

MAY’s DSD processing is another defining aspect of its architecture.

Instead of routing DSD through a conventional DSD-to-PCM conversion process before digital-to-analogue conversion, the design provides a dedicated discrete conversion structure.

This DSD network is not simply an ordinary PCM R2R ladder. It uses a resistor-based topology optimised for the DSD signal format.

The design therefore supports native conversion of both PCM and DSD within the same reference DAC platform.

Two-Chassis Reference Construction

The Holo Audio MAY DAC is constructed as a two-chassis system, separating the DAC circuitry from its substantial external linear power supply.

This arrangement allows the power supply and conversion electronics to occupy independent enclosures.

The separate power supply contains dedicated transformer arrangements serving the left and right channels, supporting MAY’s symmetrical dual-mono architecture.

HoloAudio uses specially manufactured flat-wire transformer technology and multi-stage voltage regulation to support stable operating conditions.

This sophisticated power architecture is central to the construction philosophy of MAY.

Four Digital Conversion Modes

MAY provides four selectable digital processing modes, allowing listeners to explore different approaches to PCM and DSD conversion.

NOS | Non-Oversampling

Incoming PCM data is converted without the internal digital oversampling processing employed by conventional oversampling DAC designs.

NOS operation offers a distinctive conversion approach, while also retaining the well-understood frequency-domain characteristics of non-oversampled PCM playback.

OS | Oversampling

PCM and DSD signals are oversampled within their respective digital formats before conversion.

OS PCM

Incoming PCM or DSD is digitally processed into a higher-rate PCM conversion path.

OS DSD

Incoming PCM or DSD is digitally processed for conversion through the DSD path.

These modes allow listeners to compare different digital processing strategies. Differences in output level and playback behaviour should be considered when conducting comparisons.

Advanced PLL, FIFO and Clock Architecture

Accurate timing is a central consideration in digital audio design.

HoloAudio MAY uses a custom clock-management architecture combining phase-locked loop technology, FIFO buffering and a high-quality voltage-controlled crystal oscillator.

The PLL system is intended to reduce the influence of incoming interface jitter on the conversion clock.

The FIFO buffer helps accommodate timing differences between received digital data and the local conversion timing system.

HoloAudio’s design documentation describes a very low PLL corner frequency and a third-order filter approach to suppress timing variations.

The performance of the finished DAC depends on the complete implementation, including clock selection, digital interface handling and analogue circuitry.

Extraordinary Digital Connectivity

MAY offers a sophisticated collection of digital input interfaces designed for reference digital transports, music servers, CD players and dedicated network streaming devices.

Available digital inputs include USB, two independent I²S HDMI-style interfaces, AES/EBU XLR, coaxial RCA, coaxial BNC and optical Toslink.

Enhanced USB Audio

The Level 2 and KTE configurations include the enhanced USB implementation identified in the original HoloAudio specifications, incorporating proprietary firmware and the Titanis 2.0 circuitry.

The enhanced implementation is intended to improve electrical signal integrity and interface performance.

USB capabilities and exact implementation should be confirmed against the selected model’s configuration.

Dual I²S over HDMI Inputs

MAY includes two independent I²S digital inputs using HDMI-style connectors.

Each input has configurable pin assignments to accommodate compatible digital transports and DDCs.

HoloAudio uses a dedicated circuit approach to isolate and handle individual I²S signal lines.

Important: I²S over HDMI is not conventional HDMI audio or video. Always verify the pinout before connecting an external source.

AES/EBU, RCA, BNC and Optical

The AES/EBU, coaxial and optical digital interfaces provide compatibility with a broad range of digital transports.

Supported rates depend on the interface and the selected source device. These inputs should not be assumed to support the same maximum PCM and DSD rates as high-resolution USB or I²S.

Class A Discrete Analogue Output Stage

MAY uses a carefully considered hybrid approach within its analogue circuitry.

The manufacturer’s original design description identifies operational amplifiers in the input stage and a discrete bipolar transistor output stage operating in Class A.

This arrangement was selected to combine tightly matched input-stage components with the thermal and current-handling requirements of the output stage.

The analogue outputs are direct-coupled according to the original design description.

True Balanced and Single-Ended Outputs

MAY provides balanced XLR and single-ended RCA outputs.

The balanced circuit uses the complete differential signal architecture, while the RCA outputs provide a single-ended connection for compatible equipment.

The choice between balanced and single-ended operation should reflect the characteristics of the connected amplification and the system installation.

Intuitive Display and Remote Control

The front panel features a high-contrast display presenting input and digital playback information.

When supported S/PDIF data is present, the display can also provide additional CD track or timing information.

A CNC-machined aluminium remote control is included in the original MAY product description for the three configurations.

A front-panel power control and soft-start circuit contribute to convenient operation of this sophisticated two-chassis system.

HoloAudio MAY: Level 1, Level 2 and KTE

MAY is offered in different performance configurations based on the same fundamental discrete dual-mono conversion architecture.

MAY Level 1 (L1)

Level 1 provides the foundation of the MAY platform: dual-mono discrete conversion, separate linear power supply, PCM and native DSD support, multiple digital inputs and balanced analogue outputs.

MAY Level 2 (L2)

Level 2 incorporates additional selected components and the enhanced USB implementation described in the original manufacturer/distributor specifications.

MAY Kitsune Tuned Edition (KTE)

KTE is the premium configured version, with selected upgrades described in the original product documentation.

These include specialist component selection, enhanced USB circuitry and high-purity silver internal wiring in designated positions.

The original KTE design description also specifies upgraded mains inlet termination details and a different fuse arrangement from the standard configurations.

The exact parts fitted should always be verified against the edition and production revision being supplied.

The Musical Character of MAY

Independent reviews have praised the HoloAudio MAY DAC for its ability to combine strong measured performance with a natural and involving listening presentation.

The following characteristics summarise subjective listening impressions of the platform rather than guaranteed changes applicable to every system.

Natural Tonal Expression

MAY has been widely associated with convincing tonal colours, expressive instrumental timbre and a presentation that avoids unnecessary artificial sharpness.

Exceptional Soundstage

The dual-mono architecture and analogue output design support a highly capable stereo platform, while published listening evaluations have described excellent image placement and a convincing sense of recorded space.

Dynamics and Musical Scale

Reviewers have noted the sense of instrumental weight, rhythmic drive and natural dynamic contrast that MAY can communicate with suitable recordings and amplification.

Low-Level Detail and Acoustic Decay

The perception of subtle ambience, instrumental decay and low-level musical information is another frequently discussed quality of this flagship DAC.

Independent International Reviews

HoloAudio MAY with RED Network Streamer

The HoloAudio RED DDC & Network Streamer can provide an elegant dedicated digital transport for MAY.

RED can operate as a network audio endpoint or digital-to-digital converter, while MAY performs the final digital-to-analogue conversion.

Confirm the compatibility of the I²S pin assignment and software playback formats before using the HDMI-style I²S connection.

MAY vs Spring 3 and Cyan 2

MAY vs Spring 3

The HoloAudio Spring 3 brings advanced discrete R2R technology to a single-chassis platform, with features and available configurations that differ from MAY.

MAY adds a separate linear power supply chassis and a dual-mono architecture dedicated to its flagship positioning.

MAY vs Cyan 2

The Holo Audio Cyan 2 provides a compact and accessible implementation of discrete PCM and DSD conversion.

MAY provides a larger, more elaborate reference platform with separate power supply, user-selectable conversion modes and additional system flexibility.

HoloAudio MAY DAC Technical Overview

Frequently Asked Questions

What is the Holo Audio MAY DAC?

MAY is HoloAudio’s flagship two-chassis dual-mono discrete resistor ladder digital-to-analogue converter.

Does MAY use an off-the-shelf DAC chip?

No. Its conversion architecture uses proprietary discrete resistor networks.

Does MAY support native DSD?

Yes. It employs a dedicated discrete conversion structure for native DSD playback.

What is the maximum supported resolution?

The documented platform supports up to PCM 1536 kHz and DSD1024 through compatible high-resolution input configurations.

Does MAY operate in NOS mode?

Yes. MAY also provides several selectable oversampling modes.

What is linear compensation?

It is HoloAudio’s approach to correcting resistor ladder conversion errors using an additional digitally controlled compensation network.

Does MAY include a separate power supply?

Yes. MAY uses two separate chassis, one for the DAC and one for its linear power supply.

What is the difference between L1, L2 and KTE?

The editions share the core MAY architecture but differ in selected components, USB implementation and other configuration details. The exact differences should be verified for the version being ordered.

Is the USB interface identical on every MAY edition?

No. The original product documentation specifies an enhanced USB implementation for Level 2 and KTE.

Is MAY compatible with HoloAudio RED?

Yes, with an appropriate compatible digital connection. RED can provide network streaming and digital transport functionality for MAY.

Can I use both RCA and XLR outputs?

Both connector types are provided. Consult the manufacturer’s guidance for simultaneous use and any limitations affecting the connected equipment.

Are the I²S ports normal HDMI inputs?

No. They use HDMI-style connectors to carry I²S digital audio signals and require compatible pin assignments.

Does MAY have a remote control?

The original product descriptions specify a CNC-machined aluminium remote control for the three MAY editions.

Can MAY be connected to a power amplifier?

Use an appropriate preamplifier or a properly configured volume-control stage unless the receiving system provides a suitable and safe alternative.

Is the KTE version supplied with upgraded components?

Yes. The original KTE specifications describe selected component upgrades and internal silver wiring in designated positions. Confirm exact implementation for the unit supplied.

Availability and International Orders

Contact Chameleon Audio for Holo Audio MAY DAC Level 1, Level 2 and KTE availability, international shipping, system-matching advice and detailed information on the differences between the three editions.