> ## Documentation Index
> Fetch the complete documentation index at: https://docs.daya.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Core Concepts

> Understand the core building blocks of the Daya API

## Overview

The **Daya API** is built around a set of core concepts that work together to handle fiat-crypto conversion, cross-border transfers, and merchant balance management.

## Resource Model

Public webhooks follow the resource a merchant creates or reconciles, not the internal provider engine Daya uses to execute it.

| Merchant-facing concept          | Public resource     | Rails / implementation detail                                                      | Webhook family                                                      |
| -------------------------------- | ------------------- | ---------------------------------------------------------------------------------- | ------------------------------------------------------------------- |
| Onramp                           | Funding account     | `NGN_VIRTUAL_ACCOUNT`. Created through `/v1/funding-accounts`.                     | `funding_account.*` for provisioning, `deposit.*` when money lands  |
| Offramp                          | Funding account     | `CRYPTO_ADDRESS`. Created through `/v1/funding-accounts` with `asset` and `chain`. | `funding_account.*` for provisioning, `deposit.*` when crypto lands |
| Inbound NGN or crypto            | Deposit             | NGN bank transfer or crypto deposit received through a funding account.            | `deposit.*`                                                         |
| Inbound USD to a bank account    | USD account deposit | ACH or wire payment received into a USD virtual account.                           | `deposit.*`                                                         |
| Internal balance to NGN/USD bank | Transfer            | Merchant-created bank send through `/v1/transfers`.                                | `transfer.*`                                                        |
| Stablecoin or crypto wallet send | Withdrawal          | Merchant withdrawal from withdrawal balance to an on-chain address.                | `withdrawal.*`                                                      |

<Info>
  Use `/v1/transfers` and `transfer.*` webhooks for merchant-initiated bank sends. Use `deposit.*` webhooks to track incoming money and settlement into Daya.
</Info>

<CardGroup cols={2}>
  <Card title="Funding Accounts" icon="landmark">
    How customers receive funds into Daya
  </Card>

  <Card title="Deposits" icon="money-bill-transfer">
    Inbound NGN and crypto received through funding accounts
  </Card>

  <Card title="Onramps" icon="building-columns">
    Collect NGN from customers
  </Card>

  <Card title="Offramps" icon="wallet">
    Collect stablecoins from customers
  </Card>

  <Card title="Transfers" icon="paper-plane">
    Send NGN or USD to bank recipients (ACH, wire, SWIFT)
  </Card>

  <Card title="USD Virtual Accounts" icon="building-columns">
    USD virtual accounts for tier-2-verified customers
  </Card>

  <Card title="Merchant Balance" icon="wallet">
    Dual-balance model with collection and withdrawal balances
  </Card>

  <Card title="Rates" icon="chart-line">
    Firm FX quotes with buy/sell sides and defined validity windows
  </Card>
</CardGroup>