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The first margin action creates MarginAccount at ["margin", your_wallet].

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Steps

  1. Connect a wallet.
  2. Open Perps, Farm, or a margin deposit screen.
  3. If no account exists, the app sends user_create_margin.
  4. Wait for confirmation. Later visits rediscover the same PDA.
You cannot create a second account for the same wallet. Closing requires zero collateral, zero debt, and no Lite positions (user_close_margin).