diff --git a/backend/core/identity.go b/backend/core/identity.go
index 297807e26..fd3f226f0 100644
--- a/backend/core/identity.go
+++ b/backend/core/identity.go
@@ -45,13 +45,15 @@ func AccountFromMnemonic(m []string, passphrase string) (KeyPair, error) {
 	return AccountFromSeed(seed)
 }
 
-// AccountDerivationPath value according to SLIP-10 and BIP-44.
-// 109116116 is the concatenation of Unicode code point values for letters mtt - stands for Mintter.
-const AccountDerivationPath = "m/44'/109116116'/0'"
+// keyDerivationPath value according to SLIP-10 and BIP-44.
+// 104109 is the concatenation of Unicode code point values for 'hm' - stands for Hypermedia.
+// The first zero segment can be incremented to derive multiple accounts eventually.
+// PR to add our derivation code to SLIP-44: https://github.com/satoshilabs/slips/pull/1742.
+const keyDerivationPath = "m/44'/104109'/0'/0/0"
 
 // AccountFromSeed creates an account key pair from a previously generated entropy.
 func AccountFromSeed(rand []byte) (KeyPair, error) {
-	slipSeed, err := slip10.DeriveForPath(AccountDerivationPath, rand)
+	slipSeed, err := slip10.DeriveForPath(keyDerivationPath, rand)
 	if err != nil {
 		return KeyPair{}, err
 	}
diff --git a/backend/core/identity_test.go b/backend/core/identity_test.go
index b994f48f2..c2c335a1b 100644
--- a/backend/core/identity_test.go
+++ b/backend/core/identity_test.go
@@ -12,7 +12,7 @@ func TestSLIP10Derivation(t *testing.T) {
 	seed, err := hex.DecodeString("000102030405060708090a0b0c0d0e0f")
 	require.NoError(t, err)
 
-	k, err := slip10.DeriveForPath(AccountDerivationPath, seed)
+	k, err := slip10.DeriveForPath(keyDerivationPath, seed)
 	require.NoError(t, err)
 
 	require.Equal(t, "6dba7f7e7d2e1e51072c601e2e35cdd7025cea3978c4ecc54068b84f0f666a40", hex.EncodeToString(k.Seed()))
diff --git a/backend/mttnet/mttnet.go b/backend/mttnet/mttnet.go
index 630a040ec..92bf791bc 100644
--- a/backend/mttnet/mttnet.go
+++ b/backend/mttnet/mttnet.go
@@ -46,6 +46,11 @@ import (
 
 const protocolSupportKey = "mintter-support" // This is what we use as a key to protect the connection in ConnManager.
 
+const (
+	protocolPrefix  = "/hypermedia/"
+	protocolVersion = "0.4.0"
+)
+
 var userAgent = "mintter/<dev>"
 
 // GatewayClient is the bridge to talk to the gateway.
@@ -160,7 +165,7 @@ func New(cfg config.P2P, db *sqlitex.Pool, blobs *hyper.Storage, me core.Identit
 		testnetSuffix = "-" + cfg.TestnetName
 	}
 
-	protoInfo := newProtocolInfo("/hypermedia/", "0.3.0"+testnetSuffix)
+	protoInfo := newProtocolInfo(protocolPrefix, protocolVersion+testnetSuffix)
 
 	client := newClient(me, host, protoInfo.ID)
 	clean.Add(client)