DynamicSvmWalletClient::create_wallet_account runs an Ed25519 MPC keygen ceremony and returns the wallet metadata (with base58 address) and the server key shares the customer must persist in their vault.
password is required when back_up_to_dynamic: true. The SDK rejects the call with Error::InvalidArgument if you pass None. The password locally AES-256-GCM-encrypts the share that gets uploaded to Dynamic’s backup store — needed later if you ever recover via run_recover_key_shares.
You always vault the returned Vec<ServerKeyShare> in your own infrastructure for day-to-day signing — the flag only decides whether Dynamic also keeps an encrypted disaster-recovery copy. With back_up_to_dynamic: false, no copy lives on Dynamic and password becomes optional; losing your vault in that mode means losing the wallet.