diff --git a/contrib/local/02-contracts.sh b/contrib/local/02-contracts.sh
index 8d33f8eeaf..4b4cc84d7f 100755
--- a/contrib/local/02-contracts.sh
+++ b/contrib/local/02-contracts.sh
@@ -6,7 +6,7 @@ DIR="$(cd "$(dirname "${BASH_SOURCE[0]}")" >/dev/null 2>&1 && pwd)"
 echo "-----------------------"
 echo "## Add new CosmWasm contract"
 RESP=$(wasmd tx wasm store "$DIR/../../x/wasm/internal/keeper/testdata/hackatom.wasm" \
-  --from validator --gas 1000000 -y --chain-id=testing --node=http://localhost:26657 -b block)
+  --from validator --gas 1500000 -y --chain-id=testing --node=http://localhost:26657 -b block)
 
 CODE_ID=$(echo "$RESP" | jq -r '.logs[0].events[0].attributes[-1].value')
 echo "* Code id: $CODE_ID"
diff --git a/contrib/local/03-grpc-queries.sh b/contrib/local/03-grpc-queries.sh
index 23e78e6f44..f4bdf8f97f 100755
--- a/contrib/local/03-grpc-queries.sh
+++ b/contrib/local/03-grpc-queries.sh
@@ -7,12 +7,14 @@ echo "-----------------------"
 COSMOS_SDK_DIR=${COSMOS_SDK_DIR:-$(go list -f "{{ .Dir }}" -m github.com/cosmos/cosmos-sdk)}
 
 echo "### List all codes"
-grpcurl -plaintext -import-path $COSMOS_SDK_DIR/third_party/proto -import-path $COSMOS_SDK_DIR/proto -import-path . -proto ./x/wasm/internal/types/query.proto \
-  localhost:9090  cosmwasm.wasm.v1beta1.Query/Codes | jq
+RESP=$(grpcurl -plaintext -import-path $COSMOS_SDK_DIR/third_party/proto -import-path $COSMOS_SDK_DIR/proto -import-path . -proto ./x/wasm/internal/types/query.proto \
+  localhost:9090  cosmwasm.wasm.v1beta1.Query/Codes)
+echo "$RESP" | jq
 
+CODE_ID=$(echo "$RESP" | jq -r '.codeInfos[-1].codeId')
 echo "### List contract by code"
 RESP=$(grpcurl -plaintext -import-path $COSMOS_SDK_DIR/third_party/proto -import-path $COSMOS_SDK_DIR/proto -import-path . -proto ./x/wasm/internal/types/query.proto \
-  -d '{"codeId":2}' localhost:9090  cosmwasm.wasm.v1beta1.Query/ContractsByCode )
+  -d "{\"codeId\": $CODE_ID}" localhost:9090  cosmwasm.wasm.v1beta1.Query/ContractsByCode )
 echo $RESP | jq
 
 echo "### Show history for contract"
diff --git a/contrib/prometheus/README.md b/contrib/prometheus/README.md
new file mode 100644
index 0000000000..7c8d36ea3a
--- /dev/null
+++ b/contrib/prometheus/README.md
@@ -0,0 +1,47 @@
+# Setup
+Enable prometheus metrics in wasmd:
+
+* Edit `$HOME/config/app.toml`
+```toml
+[telemetry]
+
+# Enabled enables the application telemetry functionality. When enabled,
+# an in-memory sink is also enabled by default. Operators may also enabled
+# other sinks such as Prometheus.
+enabled =true
+# ...
+
+# PrometheusRetentionTime, when positive, enables a Prometheus metrics sink.
+prometheus-retention-time = 15
+```
+
+`retention-time` must be >0 (see prometheus scrape config)
+
+
+
+* Edit `$HOME/config/config.toml`
+```toml
+[instrumentation]
+
+# When true, Prometheus metrics are served under /metrics on
+# PrometheusListenAddr.
+# Check out the documentation for the list of available metrics.
+prometheus = true
+```
+# Local testing
+## Run Prometheus
+```sh
+# port 9090 is used by wasmd already
+docker run -it -v $(pwd)/contrib/prometheus:/prometheus  -p9091:9090  prom/prometheus --config.file=/prometheus/prometheus.yaml
+```
+* Open [console](http://localhost:9091) and find `wasm_`service metrics
+
+## Run Grafana
+
+```shell
+docker run -it -p 3000:3000 grafana/grafana
+```
+* Add Prometheus data source
+`http://host.docker.internal:9091`
+### Labels
+* `wasm_contract_create` = nanosec
\ No newline at end of file
diff --git a/contrib/prometheus/prometheus.yaml b/contrib/prometheus/prometheus.yaml
new file mode 100644
index 0000000000..0f6d245287
--- /dev/null
+++ b/contrib/prometheus/prometheus.yaml
@@ -0,0 +1,11 @@
+global:
+  scrape_interval:     15s # By default, scrape targets every 15 seconds.
+  evaluation_interval: 15s # By default, scrape targets every 15 seconds.
+rule_files:
+
+scrape_configs:
+- job_name: wasmd
+
+  scrape_interval: 5s
+  static_configs:
+    - targets: ['host.docker.internal:26660']
\ No newline at end of file
diff --git a/x/wasm/internal/keeper/keeper.go b/x/wasm/internal/keeper/keeper.go
index 206ab65545..9c46232317 100644
--- a/x/wasm/internal/keeper/keeper.go
+++ b/x/wasm/internal/keeper/keeper.go
@@ -4,20 +4,21 @@ import (
 	"bytes"
 	"encoding/binary"
 	"fmt"
-	abci "github.com/tendermint/tendermint/abci/types"
-	"path/filepath"
-
 	"github.com/CosmWasm/wasmd/x/wasm/internal/types"
 	wasmvm "github.com/CosmWasm/wasmvm"
 	wasmvmtypes "github.com/CosmWasm/wasmvm/types"
 	"github.com/cosmos/cosmos-sdk/codec"
 	"github.com/cosmos/cosmos-sdk/store/prefix"
+	"github.com/cosmos/cosmos-sdk/telemetry"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	sdkerrors "github.com/cosmos/cosmos-sdk/types/errors"
 	authkeeper "github.com/cosmos/cosmos-sdk/x/auth/keeper"
 	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+	abci "github.com/tendermint/tendermint/abci/types"
 	"github.com/tendermint/tendermint/crypto"
 	"github.com/tendermint/tendermint/libs/log"
+	"path/filepath"
+	"time"
 )
 
 // GasMultiplier is how many cosmwasm gas points = 1 sdk gas point
@@ -228,6 +229,7 @@ func (k Keeper) Instantiate(ctx sdk.Context, codeID uint64, creator, admin sdk.A
 }
 
 func (k Keeper) instantiate(ctx sdk.Context, codeID uint64, creator, admin sdk.AccAddress, initMsg []byte, label string, deposit sdk.Coins, authZ AuthorizationPolicy) (sdk.AccAddress, []byte, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "instantiate")
 	if !k.IsPinnedCode(ctx, codeID) {
 		ctx.GasMeter().ConsumeGas(InstanceCost, "Loading CosmWasm module: instantiate")
 	}
@@ -322,6 +324,7 @@ func (k Keeper) instantiate(ctx sdk.Context, codeID uint64, creator, admin sdk.A
 
 // Execute executes the contract instance
 func (k Keeper) Execute(ctx sdk.Context, contractAddress sdk.AccAddress, caller sdk.AccAddress, msg []byte, coins sdk.Coins) (*sdk.Result, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "execute")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddress)
 	if err != nil {
 		return nil, err
@@ -371,6 +374,7 @@ func (k Keeper) Migrate(ctx sdk.Context, contractAddress sdk.AccAddress, caller
 }
 
 func (k Keeper) migrate(ctx sdk.Context, contractAddress sdk.AccAddress, caller sdk.AccAddress, newCodeID uint64, msg []byte, authZ AuthorizationPolicy) (*sdk.Result, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "migrate")
 	if !k.IsPinnedCode(ctx, newCodeID) {
 		ctx.GasMeter().ConsumeGas(InstanceCost, "Loading CosmWasm module: migrate")
 	}
@@ -444,6 +448,7 @@ func (k Keeper) migrate(ctx sdk.Context, contractAddress sdk.AccAddress, caller
 // another native Go module directly. Thus, the keeper doesn't place any access controls on it, that is the
 // responsibility or the app developer (who passes the wasm.Keeper in app.go)
 func (k Keeper) Sudo(ctx sdk.Context, contractAddress sdk.AccAddress, msg []byte) (*sdk.Result, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "sudo")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddress)
 	if err != nil {
 		return nil, err
@@ -578,6 +583,7 @@ func (k Keeper) GetContractHistory(ctx sdk.Context, contractAddr sdk.AccAddress)
 
 // QuerySmart queries the smart contract itself.
 func (k Keeper) QuerySmart(ctx sdk.Context, contractAddr sdk.AccAddress, req []byte) ([]byte, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "query-smart")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return nil, err
@@ -600,6 +606,7 @@ func (k Keeper) QuerySmart(ctx sdk.Context, contractAddr sdk.AccAddress, req []b
 
 // QueryRaw returns the contract's state for give key. Returns `nil` when key is `nil`.
 func (k Keeper) QueryRaw(ctx sdk.Context, contractAddress sdk.AccAddress, key []byte) []byte {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "query-raw")
 	if key == nil {
 		return nil
 	}
diff --git a/x/wasm/internal/keeper/relay.go b/x/wasm/internal/keeper/relay.go
index 0bdcd0d8c3..862e8ce5cb 100644
--- a/x/wasm/internal/keeper/relay.go
+++ b/x/wasm/internal/keeper/relay.go
@@ -3,8 +3,10 @@ package keeper
 import (
 	"github.com/CosmWasm/wasmd/x/wasm/internal/types"
 	wasmvmtypes "github.com/CosmWasm/wasmvm/types"
+	"github.com/cosmos/cosmos-sdk/telemetry"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	sdkerrors "github.com/cosmos/cosmos-sdk/types/errors"
+	"time"
 )
 
 // OnOpenChannel calls the contract to participate in the IBC channel handshake step.
@@ -17,6 +19,8 @@ func (k Keeper) OnOpenChannel(
 	contractAddr sdk.AccAddress,
 	channel wasmvmtypes.IBCChannel,
 ) error {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-open-channel")
+
 	_, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return err
@@ -47,6 +51,7 @@ func (k Keeper) OnConnectChannel(
 	contractAddr sdk.AccAddress,
 	channel wasmvmtypes.IBCChannel,
 ) error {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-connect-channel")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return err
@@ -83,6 +88,8 @@ func (k Keeper) OnCloseChannel(
 	contractAddr sdk.AccAddress,
 	channel wasmvmtypes.IBCChannel,
 ) error {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-close-channel")
+
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return err
@@ -119,6 +126,7 @@ func (k Keeper) OnRecvPacket(
 	contractAddr sdk.AccAddress,
 	packet wasmvmtypes.IBCPacket,
 ) ([]byte, error) {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-recv-packet")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return nil, err
@@ -156,6 +164,7 @@ func (k Keeper) OnAckPacket(
 	contractAddr sdk.AccAddress,
 	acknowledgement wasmvmtypes.IBCAcknowledgement,
 ) error {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-ack-packet")
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return err
@@ -189,6 +198,8 @@ func (k Keeper) OnTimeoutPacket(
 	contractAddr sdk.AccAddress,
 	packet wasmvmtypes.IBCPacket,
 ) error {
+	defer telemetry.MeasureSince(time.Now(), "wasm", "contract", "ibc-timeout-packet")
+
 	contractInfo, codeInfo, prefixStore, err := k.contractInstance(ctx, contractAddr)
 	if err != nil {
 		return err