Like others, for Vault compatibility I need the ability to use custom derivation paths as a option. I think is an recent (unspoken/undocumented) standard to use no derivation now in other wallets? I am really not sure TBH.
I do strongly desire the ability to use a password/salt to implement a “dummy account" with default derivation path(s) holding a smaller amount of funds, in so creating plausible deniability if the mnemonic is lost/stolen/$5 wrench attacked.
A bit off topic: I would prefer a default derivation standard to “add a new account” without the ability to choose the derivation manually for any “retail/normal” user focused wallet like Vault I hope is. For sure in more enterprise fully-featured wallet or “advanced mode” in Vault&Omni paring you demo above I would need to have the ability to manually set this for, say, soft deriving accounts for clients ala BIP32’s described use cases. Vault (and most Substrate compatible wallets?) expose this “advanced mode” by default now from what I see here and in the Portability/Compatibility section in Polkadot Accounts In-Depth · Polkadot Wiki.
Does anyone know if our ecosystem has derivation path standards for wallets defined?
IMHO we should form a standard now if there is none.