diff --git a/.changelog/unreleased/bug-fixes/3645-implicit-addr-balances-toml-fix.md b/.changelog/unreleased/bug-fixes/3645-implicit-addr-balances-toml-fix.md
new file mode 100644
index 0000000000..6a7dd9a8d4
--- /dev/null
+++ b/.changelog/unreleased/bug-fixes/3645-implicit-addr-balances-toml-fix.md
@@ -0,0 +1,3 @@
+- Fix genesis bonds from implicit accounts. Now, only addresses
+  of the form `tnam1...` are supported in `balances.toml`.
+  ([\#3645](https://github.com/anoma/namada/pull/3645))
\ No newline at end of file
diff --git a/crates/apps_lib/src/cli.rs b/crates/apps_lib/src/cli.rs
index 19bbbd3897..af64f76c82 100644
--- a/crates/apps_lib/src/cli.rs
+++ b/crates/apps_lib/src/cli.rs
@@ -3187,7 +3187,7 @@ pub mod args {
     use super::utils::*;
     use super::{ArgGroup, ArgMatches};
     use crate::client::utils::PRE_GENESIS_DIR;
-    use crate::config::genesis::GenesisAddress;
+    use crate::config::genesis::AddrOrPk;
     use crate::config::{self, Action, ActionAtHeight};
     use crate::facade::tendermint::Timeout;
     use crate::facade::tendermint_rpc::Url;
@@ -3308,7 +3308,7 @@ pub mod args {
             )
         }),
     );
-    pub const GENESIS_BOND_SOURCE: ArgOpt<GenesisAddress> = arg_opt("source");
+    pub const GENESIS_BOND_SOURCE: ArgOpt<AddrOrPk> = arg_opt("source");
     pub const GENESIS_PATH: Arg<PathBuf> = arg("genesis-path");
     pub const GENESIS_TIME: Arg<DateTimeUtc> = arg("genesis-time");
     pub const GENESIS_VALIDATOR: ArgOpt<String> =
@@ -8003,7 +8003,7 @@ pub mod args {
 
     #[derive(Clone, Debug)]
     pub struct GenesisBond {
-        pub source: GenesisAddress,
+        pub source: AddrOrPk,
         pub validator: EstablishedAddress,
         pub bond_amount: token::DenominatedAmount,
         pub output: PathBuf,
@@ -8014,7 +8014,7 @@ pub mod args {
             let validator = GENESIS_VALIDATOR_ADDRESS.parse(matches);
             let source =
                 GENESIS_BOND_SOURCE.parse(matches).unwrap_or_else(|| {
-                    GenesisAddress::EstablishedAddress(validator.clone())
+                    AddrOrPk::Address(Address::Established(validator.clone()))
                 });
             let bond_amount = AMOUNT.parse(matches);
             let output = PATH.parse(matches);
diff --git a/crates/apps_lib/src/cli/client.rs b/crates/apps_lib/src/cli/client.rs
index 1125378814..61ce4a5512 100644
--- a/crates/apps_lib/src/cli/client.rs
+++ b/crates/apps_lib/src/cli/client.rs
@@ -786,7 +786,7 @@ impl CliApi {
                     utils::init_network(global_args, args);
                 }
                 ClientUtils::GenesisBond(GenesisBond(args)) => {
-                    utils::genesis_bond(args)
+                    utils::genesis_bond(global_args, args)
                 }
                 ClientUtils::DeriveGenesisAddresses(
                     DeriveGenesisAddresses(args),
diff --git a/crates/apps_lib/src/client/utils.rs b/crates/apps_lib/src/client/utils.rs
index dc643d6a43..702ebbcb06 100644
--- a/crates/apps_lib/src/client/utils.rs
+++ b/crates/apps_lib/src/client/utils.rs
@@ -9,6 +9,7 @@ use flate2::read::GzDecoder;
 use flate2::write::GzEncoder;
 use flate2::Compression;
 use itertools::Either;
+use namada_sdk::address::Address;
 use namada_sdk::args::DeviceTransport;
 use namada_sdk::chain::ChainId;
 use namada_sdk::dec::Dec;
@@ -29,6 +30,7 @@ use crate::config::genesis::chain::DeriveEstablishedAddress;
 use crate::config::genesis::transactions::{
     sign_delegation_bond_tx, sign_validator_account_tx, UnsignedTransactions,
 };
+use crate::config::genesis::{AddrOrPk, GenesisAddress};
 use crate::config::global::GlobalConfig;
 use crate::config::{self, genesis, get_default_namada_folder, TendermintMode};
 use crate::facade::tendermint::node::Id as TendermintNodeId;
@@ -602,13 +604,40 @@ pub fn init_genesis_established_account(
 }
 
 /// Bond to a validator at pre-genesis.
-pub fn genesis_bond(args: args::GenesisBond) {
+pub fn genesis_bond(global_args: args::Global, args: args::GenesisBond) {
     let args::GenesisBond {
         source,
         validator,
         bond_amount,
         output: toml_path,
     } = args;
+
+    let (wallet, _wallet_file) =
+        load_pre_genesis_wallet_or_exit(&global_args.base_dir);
+    let source = match source {
+        AddrOrPk::Address(addr) => match &addr {
+            Address::Established(established) => {
+                GenesisAddress::EstablishedAddress(established.clone())
+            }
+            Address::Implicit(internal) => {
+                match wallet.find_public_key_from_implicit_addr(internal) {
+                    Ok(pk) => GenesisAddress::PublicKey(StringEncoded::new(pk)),
+                    Err(err) => {
+                        eprintln!(
+                            "Couldn't find the PK associated with the given \
+                             implicit address {addr} in the wallet: {err}"
+                        );
+                        safe_exit(1)
+                    }
+                }
+            }
+            Address::Internal(_) => {
+                eprintln!("Unexpected internal address as bond source");
+                safe_exit(1);
+            }
+        },
+        AddrOrPk::PublicKey(pk) => GenesisAddress::PublicKey(pk),
+    };
     let txs = genesis::transactions::init_bond(source, validator, bond_amount);
 
     let toml_path_str = toml_path.to_string_lossy();
diff --git a/crates/apps_lib/src/config/genesis.rs b/crates/apps_lib/src/config/genesis.rs
index 6e879c5c66..b2efd1a227 100644
--- a/crates/apps_lib/src/config/genesis.rs
+++ b/crates/apps_lib/src/config/genesis.rs
@@ -42,40 +42,46 @@ use serde::{Deserialize, Serialize};
     PartialOrd,
     Hash,
 )]
-#[allow(missing_docs)]
-pub enum GenesisBalanceAddress {
+pub enum GenesisAddress {
+    /// Encoded as `public_key = "value"` in toml.
     PublicKey(StringEncoded<common::PublicKey>),
-    Address(Address),
+    /// Encoded as `established_address = "value"` in toml.
+    EstablishedAddress(EstablishedAddress),
 }
 
-impl GenesisBalanceAddress {
-    /// Return an [`Address`] from this [`GenesisBalanceAddress`].
+impl GenesisAddress {
+    /// Return an [`Address`] from this [`GenesisAddress`].
     #[inline]
     pub fn address(&self) -> Address {
         match self {
-            Self::Address(addr) => addr.clone(),
+            Self::EstablishedAddress(addr) => {
+                Address::Established(addr.clone())
+            }
             Self::PublicKey(pk) => (&pk.raw).into(),
         }
     }
 }
 
-impl Serialize for GenesisBalanceAddress {
+impl Serialize for GenesisAddress {
     fn serialize<S>(&self, serializer: S) -> Result<S::Ok, S::Error>
     where
         S: serde::Serializer,
     {
         match self {
-            GenesisBalanceAddress::Address(address) => {
-                Serialize::serialize(&address, serializer)
+            GenesisAddress::EstablishedAddress(address) => {
+                Serialize::serialize(
+                    &Address::Established(address.clone()),
+                    serializer,
+                )
             }
-            GenesisBalanceAddress::PublicKey(pk) => {
+            GenesisAddress::PublicKey(pk) => {
                 Serialize::serialize(pk, serializer)
             }
         }
     }
 }
 
-impl<'de> Deserialize<'de> for GenesisBalanceAddress {
+impl<'de> Deserialize<'de> for GenesisAddress {
     fn deserialize<D>(deserializer: D) -> Result<Self, D::Error>
     where
         D: serde::Deserializer<'de>,
@@ -83,21 +89,22 @@ impl<'de> Deserialize<'de> for GenesisBalanceAddress {
         struct FieldVisitor;
 
         impl<'de> serde::de::Visitor<'de> for FieldVisitor {
-            type Value = GenesisBalanceAddress;
+            type Value = GenesisAddress;
 
             fn expecting(
                 &self,
                 formatter: &mut Formatter<'_>,
             ) -> std::fmt::Result {
-                formatter
-                    .write_str("a bech32m encoded public key or an address")
+                formatter.write_str(
+                    "a bech32m encoded public key or an established address",
+                )
             }
 
             fn visit_str<E>(self, value: &str) -> Result<Self::Value, E>
             where
                 E: serde::de::Error,
             {
-                GenesisBalanceAddress::from_str(value)
+                GenesisAddress::from_str(value)
                     .map_err(serde::de::Error::custom)
             }
         }
@@ -106,29 +113,36 @@ impl<'de> Deserialize<'de> for GenesisBalanceAddress {
     }
 }
 
-impl Display for GenesisBalanceAddress {
+impl Display for GenesisAddress {
     fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
         match self {
-            GenesisBalanceAddress::Address(address) => write!(f, "{address}"),
-            GenesisBalanceAddress::PublicKey(pk) => write!(f, "{}", pk),
+            GenesisAddress::EstablishedAddress(address) => {
+                write!(f, "{}", Address::Established(address.clone()).encode())
+            }
+            GenesisAddress::PublicKey(pk) => write!(f, "{}", pk),
         }
     }
 }
 
-impl FromStr for GenesisBalanceAddress {
+impl FromStr for GenesisAddress {
     type Err = String;
 
     fn from_str(value: &str) -> Result<Self, Self::Err> {
         // Try to deserialize a PK first
         let maybe_pk = StringEncoded::<common::PublicKey>::from_str(value);
         match maybe_pk {
-            Ok(pk) => Ok(GenesisBalanceAddress::PublicKey(pk)),
+            Ok(pk) => Ok(GenesisAddress::PublicKey(pk)),
             Err(_) => {
                 // If that doesn't work, attempt to retrieve
-                // an address
+                // an established address
                 let address =
                     Address::from_str(value).map_err(|err| err.to_string())?;
-                Ok(GenesisBalanceAddress::Address(address))
+                if let Address::Established(established) = address {
+                    Ok(GenesisAddress::EstablishedAddress(established))
+                } else {
+                    Err("expected an established address or public key"
+                        .to_string())
+                }
             }
         }
     }
@@ -146,58 +160,38 @@ impl FromStr for GenesisBalanceAddress {
     PartialOrd,
     Hash,
 )]
-pub enum GenesisAddress {
-    /// Encoded as `public_key = "value"` in toml.
+#[allow(missing_docs)]
+pub enum AddrOrPk {
     PublicKey(StringEncoded<common::PublicKey>),
-    /// Encoded as `established_address = "value"` in toml.
-    EstablishedAddress(EstablishedAddress),
-}
-
-impl From<GenesisAddress> for GenesisBalanceAddress {
-    #[inline]
-    fn from(genesis_addr: GenesisAddress) -> Self {
-        match genesis_addr {
-            GenesisAddress::PublicKey(pk) => Self::PublicKey(pk),
-            GenesisAddress::EstablishedAddress(addr) => {
-                Self::Address(Address::Established(addr))
-            }
-        }
-    }
+    Address(Address),
 }
 
-impl GenesisAddress {
-    /// Return an [`Address`] from this [`GenesisAddress`].
+impl AddrOrPk {
+    /// Return an [`Address`] from this [`AddrOrPk`].
     #[inline]
     pub fn address(&self) -> Address {
         match self {
-            Self::EstablishedAddress(addr) => {
-                Address::Established(addr.clone())
-            }
+            Self::Address(addr) => addr.clone(),
             Self::PublicKey(pk) => (&pk.raw).into(),
         }
     }
 }
 
-impl Serialize for GenesisAddress {
+impl Serialize for AddrOrPk {
     fn serialize<S>(&self, serializer: S) -> Result<S::Ok, S::Error>
     where
         S: serde::Serializer,
     {
         match self {
-            GenesisAddress::EstablishedAddress(address) => {
-                Serialize::serialize(
-                    &Address::Established(address.clone()),
-                    serializer,
-                )
-            }
-            GenesisAddress::PublicKey(pk) => {
-                Serialize::serialize(pk, serializer)
+            AddrOrPk::Address(address) => {
+                Serialize::serialize(&address, serializer)
             }
+            AddrOrPk::PublicKey(pk) => Serialize::serialize(pk, serializer),
         }
     }
 }
 
-impl<'de> Deserialize<'de> for GenesisAddress {
+impl<'de> Deserialize<'de> for AddrOrPk {
     fn deserialize<D>(deserializer: D) -> Result<Self, D::Error>
     where
         D: serde::Deserializer<'de>,
@@ -205,23 +199,21 @@ impl<'de> Deserialize<'de> for GenesisAddress {
         struct FieldVisitor;
 
         impl<'de> serde::de::Visitor<'de> for FieldVisitor {
-            type Value = GenesisAddress;
+            type Value = AddrOrPk;
 
             fn expecting(
                 &self,
                 formatter: &mut Formatter<'_>,
             ) -> std::fmt::Result {
-                formatter.write_str(
-                    "a bech32m encoded public key or an established address",
-                )
+                formatter
+                    .write_str("a bech32m encoded public key or an address")
             }
 
             fn visit_str<E>(self, value: &str) -> Result<Self::Value, E>
             where
                 E: serde::de::Error,
             {
-                GenesisAddress::from_str(value)
-                    .map_err(serde::de::Error::custom)
+                AddrOrPk::from_str(value).map_err(serde::de::Error::custom)
             }
         }
 
@@ -229,36 +221,29 @@ impl<'de> Deserialize<'de> for GenesisAddress {
     }
 }
 
-impl Display for GenesisAddress {
+impl Display for AddrOrPk {
     fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
         match self {
-            GenesisAddress::EstablishedAddress(address) => {
-                write!(f, "{}", Address::Established(address.clone()).encode())
-            }
-            GenesisAddress::PublicKey(pk) => write!(f, "{}", pk),
+            AddrOrPk::Address(address) => write!(f, "{address}"),
+            AddrOrPk::PublicKey(pk) => write!(f, "{}", pk),
         }
     }
 }
 
-impl FromStr for GenesisAddress {
+impl FromStr for AddrOrPk {
     type Err = String;
 
     fn from_str(value: &str) -> Result<Self, Self::Err> {
         // Try to deserialize a PK first
         let maybe_pk = StringEncoded::<common::PublicKey>::from_str(value);
         match maybe_pk {
-            Ok(pk) => Ok(GenesisAddress::PublicKey(pk)),
+            Ok(pk) => Ok(AddrOrPk::PublicKey(pk)),
             Err(_) => {
                 // If that doesn't work, attempt to retrieve
-                // an established address
+                // an address
                 let address =
                     Address::from_str(value).map_err(|err| err.to_string())?;
-                if let Address::Established(established) = address {
-                    Ok(GenesisAddress::EstablishedAddress(established))
-                } else {
-                    Err("expected an established address or public key"
-                        .to_string())
-                }
+                Ok(AddrOrPk::Address(address))
             }
         }
     }
@@ -542,9 +527,7 @@ pub fn make_dev_genesis(
             .unwrap()
             .first()
             .unwrap();
-        let genesis_addr =
-            GenesisAddress::EstablishedAddress(tx.tx.data.address.raw.clone())
-                .into();
+        let genesis_addr = Address::Established(tx.tx.data.address.raw.clone());
 
         let balance = *nam_balances.0.get(&genesis_addr).unwrap();
         let bonded = {
@@ -660,13 +643,9 @@ pub fn make_dev_genesis(
                 .get_mut(&Alias::from_str("nam").unwrap())
                 .unwrap();
 
-            let validator_addr =
-                GenesisAddress::EstablishedAddress(validator_address.clone())
-                    .into();
-            let account_pk = GenesisAddress::PublicKey(StringEncoded::new(
-                consensus_keypair.ref_to(),
-            ))
-            .into();
+            let validator_addr: Address =
+                Address::Established(validator_address.clone());
+            let account_pk: Address = (&consensus_keypair.ref_to()).into();
 
             nam_balances.0.insert(validator_addr, first_val_balance);
             nam_balances.0.insert(account_pk, first_val_balance);
diff --git a/crates/apps_lib/src/config/genesis/templates.rs b/crates/apps_lib/src/config/genesis/templates.rs
index 8b430c2db8..29194f29f5 100644
--- a/crates/apps_lib/src/config/genesis/templates.rs
+++ b/crates/apps_lib/src/config/genesis/templates.rs
@@ -24,7 +24,6 @@ use super::transactions::{self, Transactions};
 use super::utils::{read_toml, write_toml};
 use crate::config::genesis::chain::DeriveEstablishedAddress;
 use crate::config::genesis::transactions::{BondTx, SignedBondTx};
-use crate::config::genesis::GenesisBalanceAddress;
 use crate::wallet::Alias;
 
 pub const BALANCES_FILE_NAME: &str = "balances.toml";
@@ -140,9 +139,7 @@ pub struct DenominatedBalances {
     PartialEq,
     Eq,
 )]
-pub struct RawTokenBalances(
-    pub BTreeMap<GenesisBalanceAddress, token::DenominatedAmount>,
-);
+pub struct RawTokenBalances(pub BTreeMap<Address, token::DenominatedAmount>);
 
 /// Genesis balances for a given token
 #[derive(
@@ -156,9 +153,7 @@ pub struct RawTokenBalances(
     PartialEq,
     Eq,
 )]
-pub struct TokenBalances(
-    pub BTreeMap<GenesisBalanceAddress, token::DenominatedAmount>,
-);
+pub struct TokenBalances(pub BTreeMap<Address, token::DenominatedAmount>);
 
 /// Genesis validity predicates
 #[derive(
@@ -522,7 +517,7 @@ pub struct IbcParams {
 }
 
 impl TokenBalances {
-    pub fn get(&self, addr: &GenesisBalanceAddress) -> Option<token::Amount> {
+    pub fn get(&self, addr: &Address) -> Option<token::Amount> {
         self.0.get(addr).map(|amt| amt.amount())
     }
 }
@@ -991,7 +986,6 @@ mod tests {
 
     use namada_sdk::key;
     use namada_sdk::key::RefTo;
-    use namada_sdk::string_encoding::StringEncoded;
     use tempfile::tempdir;
 
     use super::*;
@@ -1047,14 +1041,13 @@ mod tests {
         let path = test_dir.path().join(BALANCES_FILE_NAME);
         let sk = key::testing::keypair_1();
         let pk = sk.ref_to();
-        let address =
-            GenesisBalanceAddress::PublicKey(StringEncoded { raw: pk.clone() });
+        let address: Address = (&pk).into();
         let balance = token::Amount::from(101_000_001);
         let token_alias = Alias::from("Some_token".to_string());
         let contents = format!(
             r#"
 		[token.{token_alias}]
-		{pk} = "{}"
+		{address} = "{}"
 	    "#,
             balance.to_string_native()
         );
diff --git a/crates/apps_lib/src/config/genesis/transactions.rs b/crates/apps_lib/src/config/genesis/transactions.rs
index c1b4f9a5ba..3239ad18e1 100644
--- a/crates/apps_lib/src/config/genesis/transactions.rs
+++ b/crates/apps_lib/src/config/genesis/transactions.rs
@@ -42,7 +42,7 @@ use crate::config::genesis::chain::DeriveEstablishedAddress;
 use crate::config::genesis::templates::{
     TemplateValidation, Unvalidated, Validated,
 };
-use crate::config::genesis::{utils, GenesisAddress, GenesisBalanceAddress};
+use crate::config::genesis::{utils, GenesisAddress};
 use crate::wallet::{CliWalletUtils, WalletTransport};
 
 /// Dummy chain id used to sign [`Tx`] objects at pre-genesis.
@@ -1197,7 +1197,7 @@ fn validate_bond(
 
     // Check and update token balance of the source
     let native_token = &parameters.parameters.native_token;
-    let source = GenesisBalanceAddress::from(source.clone());
+    let source = source.address();
     match balances.get_mut(native_token) {
         Some(balances) => {
             let balance = balances.amounts.get_mut(&source);
@@ -1255,7 +1255,7 @@ fn validate_bond(
 #[derive(Clone, Debug)]
 pub struct TokenBalancesForValidation {
     /// Accumulator for tokens transferred to accounts
-    pub amounts: BTreeMap<GenesisBalanceAddress, DenominatedAmount>,
+    pub amounts: BTreeMap<Address, DenominatedAmount>,
 }
 
 pub fn validate_established_account(
diff --git a/crates/node/src/shell/init_chain.rs b/crates/node/src/shell/init_chain.rs
index a5c9d415c1..74d324aba3 100644
--- a/crates/node/src/shell/init_chain.rs
+++ b/crates/node/src/shell/init_chain.rs
@@ -512,15 +512,6 @@ where
             };
 
             for (owner, balance) in balances {
-                if let genesis::GenesisBalanceAddress::PublicKey(pk) = owner {
-                    namada_sdk::account::init_account_storage(
-                        &mut self.state,
-                        &owner.address(),
-                        std::slice::from_ref(&pk.raw),
-                        1,
-                    )
-                    .unwrap();
-                }
                 tracing::info!(
                     "Crediting {} {} tokens to {}",
                     balance,
@@ -530,7 +521,7 @@ where
                 credit_tokens(
                     &mut self.state,
                     token_address,
-                    &owner.address(),
+                    owner,
                     balance.amount(),
                 )
                 .expect("Couldn't credit initial balance");
@@ -568,6 +559,7 @@ where
 
                 let public_keys: Vec<_> =
                     public_keys.iter().map(|pk| pk.raw.clone()).collect();
+
                 namada_sdk::account::init_account_storage(
                     &mut self.state,
                     address,
@@ -575,6 +567,18 @@ where
                     *threshold,
                 )
                 .unwrap();
+
+                for pk in &public_keys {
+                    let implicit_addr = pk.into();
+
+                    namada_sdk::account::init_account_storage(
+                        &mut self.state,
+                        &implicit_addr,
+                        std::slice::from_ref(pk),
+                        1,
+                    )
+                    .unwrap();
+                }
             }
         }
         self.proceed_with(())
diff --git a/crates/tests/src/e2e/setup.rs b/crates/tests/src/e2e/setup.rs
index f1879afd09..e3fa45c778 100644
--- a/crates/tests/src/e2e/setup.rs
+++ b/crates/tests/src/e2e/setup.rs
@@ -23,9 +23,7 @@ use namada_apps_lib::client::utils::{
     self, validator_pre_genesis_dir, validator_pre_genesis_txs_file,
 };
 use namada_apps_lib::config::genesis::utils::read_toml;
-use namada_apps_lib::config::genesis::{
-    templates, transactions, GenesisAddress,
-};
+use namada_apps_lib::config::genesis::{templates, transactions};
 use namada_apps_lib::config::{ethereum_bridge, genesis, Config};
 use namada_apps_lib::wallet::defaults::{derive_template_dir, is_use_device};
 use namada_apps_lib::{config, wallet};
@@ -255,7 +253,7 @@ where
             .get_mut(&Alias::from_str("nam").expect("Infallible"))
             .expect("NAM balances should exist in pre-genesis wallet already");
         nam_balances.0.insert(
-            GenesisAddress::PublicKey(StringEncoded::new(sk.ref_to())).into(),
+            (&sk.ref_to()).into(),
             token::DenominatedAmount::new(
                 token::Amount::from_uint(1000000, NATIVE_MAX_DECIMAL_PLACES)
                     .unwrap(),
@@ -263,8 +261,7 @@ where
             ),
         );
         nam_balances.0.insert(
-            GenesisAddress::EstablishedAddress(validator_address.clone())
-                .into(),
+            Address::Established(validator_address.clone()),
             token::DenominatedAmount::new(
                 token::Amount::from_uint(2000000, NATIVE_MAX_DECIMAL_PLACES)
                     .unwrap(),
diff --git a/genesis/hardware/balances.toml b/genesis/hardware/balances.toml
index 61fb124255..4e8dfbd076 100644
--- a/genesis/hardware/balances.toml
+++ b/genesis/hardware/balances.toml
@@ -17,25 +17,25 @@
 [token.NAM]
 # albert
 tnam1qye83lg3ncsen8wjedgz27rxjktn0gcrc574p78e = "2000000"
-tpknam1qquurf975axryz4sf0jmyxpknkxp4cs7g8e8ahhpw089u6j3q9dy6qssdhz = "2000000"
+tnam1qq6qyugak0gd4up6lma8z8wr88w3pq9lgvfhw6yu = "2000000"
 # bertha
 tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "2000000"
-tpknam1qrg6qx72e0vqhg8plg20hv97g3p3q092gl88jlngkly0hpmca2h2we44uzw = "2000000"
+tnam1qp7z909dsdv4qw5jcasywzm9p7xa3qeqqghcjqxe = "2000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "2000000"
-tpknam1qp7r3et2usz538fxzkm69h3awr7t0kgk7h6528za7pk4g2jldk5dz0qjkhx = "2000000"
+tnam1qq8kszasdp30f2j2pkhz40zpfvztdakwqvkm0xy4 = "2000000"
 # daewon
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "100000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "100000000"
 # ester
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "200000"
-tpknam1qpzrttnzfyt6xfu2vy092eruasll3z52rjfexwapdw0rdww5uktlk3j73dw = "200000"
+tnam1qrdrgx6d3rzl2f5yn6nde6wg20sl6kmtug3ecg7z = "200000"
 # validator-0-account-key
-tpknam1qrulnacf6l6lt2vlpc8y2yudlgzs9hzrfa9p66fv4p7vk8utf6m4554t3ak = "1000000"
+tnam1qr56gfuh4flztuqlpk50e5dknjx8vcnhz59t5u3w = "1000000"
 # frank
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "2000000"
-tpknam1qqwfpuvn8x7yqtquejhppef4vddv9ghusec2rkaxav38amamxaxpgj9cs79 = "2000000"
+tnam1qz0nvec686e9pks8ynhm5ddq8ke7j2eey50uagtr = "2000000"
 
 [token.BTC]
 # albert
@@ -45,9 +45,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
@@ -61,9 +61,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
@@ -78,9 +78,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
@@ -94,9 +94,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
@@ -110,9 +110,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
@@ -126,9 +126,9 @@ tnam1qyvmxf6r5e9gjtq2pwsndgq77hmx4vw2rghnmt8v = "1000000"
 # christel
 tnam1q8wemh6ws8vctdyg3dh9339qusttefzp0qw0qhvm = "1000000"
 # daewon-key
-tpknam1qzdgg0q7c2szvx67q84r859axuwmyvsku0t9w97kwdvz7ff89xy4xrqxfmv = "1000000"
+tnam1qqnxq04amahj5yuwux7pdsjp3dyu07at3u3f742p = "1000000"
 # ester-key
-tpknam1qplr7n6ej99zyvzvjy0w726p0809m6a279a02rn5zw0c52k8wdw8q5gfc8y = "1000000"
+tnam1qr2y927swt2ax66m9fgc9ejs40m7m77rry53cvkv = "1000000"
 # validator-0
 tnam1q9q3lph40w88cs5000k48thkw3f7s0m6mqrtfgss = "1000000"
 # frank
diff --git a/genesis/localnet/balances.toml b/genesis/localnet/balances.toml
index 1a41f87dad..e4db4e5c85 100644
--- a/genesis/localnet/balances.toml
+++ b/genesis/localnet/balances.toml
@@ -17,22 +17,22 @@
 [token.NAM]
 # albert
 tnam1qxfj3sf6a0meahdu9t6znp05g8zx4dkjtgyn9gfu = "2000000"
-tpknam1qrnw8mxyqlj60mykgevnldcj5mg2fya7fs5a8xqdkd2gwtxhef0zy8a2wha = "2000000"
+tnam1qrr8r00nrf6490ff9zgfz52xrnfhdja7rqvldl46 = "2000000"
 # bertha
 tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "2000000"
-tpknam1qq52dx5e290wyh7ngdt6wudtyd502lg6ln49yvg3vz97e8j2ruux5e3yewq = "2000000"
+tnam1qqc2ge6tg7s03nlshjr5d79dqyjr33aa8g2mxyzm = "2000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "2000000"
-tpknam1qqwfpuvn8x7yqtquejhppef4vddv9ghusec2rkaxav38amamxaxpgj9cs79 = "2000000"
+tnam1qz0nvec686e9pks8ynhm5ddq8ke7j2eey50uagtr = "2000000"
 # daewon
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "100000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "100000000"
 # ester
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "200000"
-tpknam1qpzrttnzfyt6xfu2vy092eruasll3z52rjfexwapdw0rdww5uktlk3j73dw = "200000"
+tnam1qrdrgx6d3rzl2f5yn6nde6wg20sl6kmtug3ecg7z = "200000"
 # validator-0-account-key
-tpknam1qpg2tsrplvhu3fd7z7tq5ztc2ne3s7e2ahjl2a2cddufrzdyr752g666ytj = "1000000"
+tnam1qzwnw8rdyg8c5nrdwrcd87pgdxygr2eyguzy9c44 = "1000000"
 
 [token.BTC]
 # albert
@@ -42,9 +42,9 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"
 
@@ -56,9 +56,9 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"
 
@@ -71,9 +71,9 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"
 
@@ -85,9 +85,9 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"
 
@@ -99,9 +99,9 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"
 
@@ -113,8 +113,8 @@ tnam1q9rhgyv3ydq0zu3whnftvllqnvhvhm270qxay5tn = "1000000"
 # christel
 tnam1q9sx4ekzqaq3xdxtruxkm764nhl00cvcsc7df5jf = "1000000"
 # daewon-key
-tpknam1qzz4x4fammhdcfa0g8xw4udkq8s4n6kjhzlxh00ul3da05wuu9wkykqqvjm = "1000000"
+tnam1qpca48f45pdtpcz06rue7k4kfdcjrvrux5cr3pwn = "1000000"
 # ester-key
-tpknam1qypvqpzu74nafjahlwyq272dj76qq9rz30dulyc94883tmj893mquqs74gxv4 = "1000000"
+tnam1qpm3dpsv76ttu382vfggtr7m8n00na3sfyzm2g2q = "1000000"
 # validator-0
 tnam1q9vhfdur7gadtwx4r223agpal0fvlqhywylf2mzx = "1000000"