Step 1: Line 8-inch (2 L) square cake pan with parchment paper. Add cereal to large bowl. Set aside.
Step 2: In small saucepan, mix the sugar, corn syrup, 1/3 cup water and salt together; bring to a medium boil medium-high heat. Continue to boil WITHOUT stirring, until consistency of maple syrup, 5 to 6 minutes (mine took about 10 minutes to thicken - you can stir the ingredients just after adding to the saucepan but DO NOT stir while boiling!). Remove from heat; stir in peanut butter and melted butter until smooth. Pour over cereal; stir until well combined. Scrape into prepared pan, smoothing top. Let cool to room temperature.
Step 3: Refrigerate until set, about 1 hour. Let stand for 30 minutes before slicing.
Step 4: Top with melted chocolate if desired after cooling.
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