A cryptocurrency is digital money. Just like physical money (dollars, euros, naira), it's worth something and you can trade it. But instead of being controlled by a government or bank, cryptocurrencies run on a computer network.

Example: Bitcoin is digital money that people can send to each other without needing a bank.

A stablecoin is a special cryptocurrency designed to NOT go up and down in price. The goal is to keep it stable at 1 unit = 1 of something (usually US dollars).

Real examples on this dashboard:

• USDT (Tether): Should equal $1 USD
• USDC (USD Coin): Should equal $1 USD
• cNGN: Nigerian Naira stablecoin, issued by the African Stablecoin Consortium under SEC ARIP oversight. Should equal ₦1 Nigerian Naira.

An exchange is like a marketplace where people buy and sell cryptocurrencies. You might have heard of stock exchanges (where people buy and sell company stocks); a crypto exchange is the same idea but for digital currencies.

Examples: Coinbase (US), Quidax (Nigeria), Kraken (Europe).

A "pair" is when you're trading two things. "USDT/NGN" means "swap USDT (US dollars) for NGN (Nigerian Naira)". When you see "All NGN pairs", it means the exchange lets you trade several different cryptocurrencies that all end in NGN — the exact count comes from the live API.

A corridor is a money-movement path between two places. The dashboard talks about "Nigeria → Kenya", "Nigeria → China", etc.

In plain English: How do people send money from Nigeria to Kenya? There's a "corridor" (path) for that money to flow.

Volume (or Turnover) is the total amount of money that traded in 24 hours.

Example: If $100 of USDT traded on Quidax today, the volume is $100.

A spread is the difference in price between two places.

Example:

• At Quidax, 1 USDT costs ₦800
• On the black market, 1 USDT costs ₦795
• The spread = ₦5

Spreads matter because they show how "good" an exchange's prices are.

NGN is the currency code for Nigerian Naira, Nigeria's official money. It's like "USD" for US Dollars or "EUR" for Euros.

BPS = Basis Points. It's a way to measure small percentage changes.

• 1 BPS = 0.01% (one one-hundredth of a percent)
• 100 BPS = 1%
• 1,000 BPS = 10%

Example: If USDT should be ₦800 but an exchange sells it for ₦799, that's a 0.125% difference = 12.5 BPS. We use BPS because spreads on stablecoins are tiny, so saying "12.5 basis points" is clearer than saying "0.125%".

Confidence tells you how sure we are that a number is correct.

• High Confidence: We have direct evidence (URL, official number, recent data). Trust this number.
• Medium Confidence: We have good sources (reports from banks/firms) but data might be older or aggregated. Probably true but could shift.
• Low Confidence: This is an estimate based on fragments. Treat it as "our best guess".

LKG = Last Known Good. If the dashboard can't fetch fresh data (network down, server error), it shows you the last good reading it got, but clearly labels it as OLD.

Plain English: "I can't get you today's price, but here's what it was yesterday. This is old."

The top badge shows where the data is coming from:

• Live = Fresh data (updated 0-15 seconds ago)
• Cached = Still live, but from a cache that's 0-10 seconds old
• Stale = No new data; showing an old reading
• Empty = No data available at all

KPI = Key Performance Indicator. These are the big headline numbers:

• Total NGN volume on Quidax: How much Nigerian Naira worth of trading happened today.
• Stablecoin share: What percentage of that volume is stablecoins (USDT, USDC, cNGN) vs other cryptos.
• USDT at NFEM: Is the USDT price tracking Nigeria's official government FX rate?
• cNGN peg integrity: Is cNGN stable? Or did it drift away from ₦1?

NFEM = Nigerian Foreign Exchange Market (official rate). Nigeria's government publishes an official FX rate every day. It's supposed to be what 1 USD = how many Nigerian Naira.

TAM = Total Addressable Market. It's how big a business could be if it captured all the money flowing through that category.