Best Bang for your Buck DAC ?

I think this type of question is wrong. Best bang for the buck will probably always be something very cheap. A $1000 dac is probably not 10x as good as $100 one.

I think it is more important with some rough budget for you. What are you willing to pay for a dac?
Which dac is best for you within that budget?

And, since we don't know your taste or system perfectly,  which dacs do the rest of us think are really good (still within your budget)?

Here it is: the Khadas Tone Board KTB DAC! $90! You add a case and 5 volt DC power supply. Near SOTA specs! Khadas also has the Tone Pro 2 for those not into DIY - $199! I have a KTB in a custom case!

So what sonic qualities is it that you would like to improve over the use of the Cobalt in your main system? 

Would say shop for a used Rega DAC. Had one in my system for several years and thoroughly enjoyed it. Takes the sizzle out of the digital experience and is decidedly British in its presentation. Has several filter settings with the slightest of differences but I enjoyed stretching to hear the differences. Digital signal was bright to begin with and the Rega tamed it exceptionally well. Recently picked up a Line Magnetic 502ca that runs both SS or Tube. It's a VERY nice piece and I'm waiting on a MOON Neo MIND streamer to replace my current piece. Hoping for even improved symmetry. 

There are many references to the Denafrips Ares 2 being available for $750 direct from their US distributor. Their site now lists it for $1000. Am I missing something?