If you're an Xverse user importing your seed phrase into the ME Wallet, you might notice a change in the way your accounts are displayed. This is not an error, but a result of the unique architecture of the Xverse wallet and ME Wallet. In this guide, we'll explain why this happens and what it means for you.
Why is this happening?
How BTC wallets work
Before diving into the specifics, let's understand how most BTC wallets, including ME Wallet, create accounts:
A seed phrase generates a master node.
The master node creates individual wallet accounts.
ME Wallet architecture
In ME Wallet, each portfolio instance is a new wallet/account. For example, Portfolio 1 is an individual account (m/0), Portfolio 2 is another account (m/1), and so on.
Xverse also creates wallet accounts, but with a critical difference. When Xverse creates Account 2, it doesn't create a new wallet account but a new wallet address under an existing wallet chain. In other words, while ME Wallet creates m/1 for Account 2, Xverse creates m/0/0/1.
What this means for you
When Xverse users import their seed phrase into ME Wallet, they might see a "merged" account state in their Portfolio 1. This is because ME Wallet detects Xverse wallets but creates separate accounts for each address, whereas Xverse creates new addresses under existing wallet chains.
Your merged accounts are fully functional, and you can use the balance seamlessly.
The appearance of a "merged" state is due to the structural differences between ME Wallet and Xverse.
Next steps and user guidance
If you're importing from Xverse and have multiple accounts, a notification will appear before accessing your wallet. This notification aims to clarify the structural differences and guide you through the experience. We recommend reading the notification thoroughly and referring to this article for further understanding.
ME Wallet's architecture ensures the integrity of separate accounts, aligning with industry best practices. While the "merged" state may seem unfamiliar, rest assured that your accounts are secure and usable. If you have any further questions, feel free to reach out to Magic Eden's support team.
We hope this guide clarifies the situation and helps you navigate your ME Wallet seamlessly.