Core Concepts

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Overview

The Daya API is built around a small set of core concepts that work together to convert NGN bank transfers into stablecoins.

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Onramps

An onramp defines how NGN is received and how converted funds are settled. Each onramp specifies:

• A virtual account for receiving NGN
• The FX rate behavior
• The settlement destination

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Onramp Types

Daya supports two onramp types:

1. Temporary — Short-lived virtual account (~20 min), locked to a specific rate, for one-time deposits.
2. Permanent — Long-lived virtual account, floating rate at settlement time, requires customer verification.

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Offramps

An offramp generates a crypto deposit address for a customer. When crypto is deposited, it can be settled to the merchant’s internal balance or paid out as NGN to a bank account.

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Offramp Types

1. Temporary — Short-lived deposit address for one-time crypto deposits.
2. Permanent — Long-lived deposit address for recurring crypto deposits.

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Merchant Withdrawals

A withdrawal moves funds from your Daya balance to an on-chain address. Withdrawals are tracked independently and can be observed through the withdrawal APIs and webhook events.

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Rates

A rate is a firm FX quote with a defined validity window. Rates now have a side:

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Rate Application

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Settlement Modes

Settlement defines where funds are delivered after conversion.

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On-chain (ONCHAIN)

Stablecoins are automatically sent to a blockchain address.

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Internal balance (INTERNAL_BALANCE)

Funds are credited to your Daya balance for later withdrawal.

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NGN Payout (NGN_PAYOUT)

For offramp deposits — converted funds are paid out as NGN to a bank account.

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Virtual Accounts (VAs)

Virtual accounts are Nigerian Naira bank account numbers used to receive deposits.

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VA Properties

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Temporary VA Lifecycle

1. Created with the onramp
2. Active for up to 25 minutes
3. Expires after the window closes
4. Late deposits are FLAGGED

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Next Steps