The HD wallet derivation path (hierarchical deterministic wallet derivation path) is a method for generating multiple accounts from the same mnemonic seed. Based on the BIP44 standard, it allows you to theoretically create unlimited addresses from a single mnemonic. The structure is:
m / purpose' / coin_type' / account' / change / address_index
The coin_type identifies the network (e.g., 118 for most Cosmos chains, 60 for EVM-compatible chains). A full list of blockchain network coin types can be found in the SLIP44 standard.
Changing the derivation path will generate a completely different address, so if you’re not familiar with this concept, do NOT modify this option.
Creating a Custom Derivation Path
When creating or importing an account, you can select [Set Custom Derivation Path (Advanced)] to set a custom HD Derivation Path.
The default 'account' is 0, but you can increase the numbers to 1, 2 or another number to create a new address with the same mnemonic seed. Make sure to record your paths so that you don't forget them.