diff --git a/CHANGELOG.md b/CHANGELOG.md
index 864a64cdf494..9390a7f9e7d8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -68,6 +68,8 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * (x/mint) [#12363](https://github.com/cosmos/cosmos-sdk/pull/12363) Migrate `x/mint` to self-managed parameters and deprecate it's usage of `x/params`.
 * (x/distribution) [#12434](https://github.com/cosmos/cosmos-sdk/pull/12434) Migrate `x/distribution` to self-managed parameters and deprecate it's usage of `x/params`.
 * (x/crisis) [#12445](https://github.com/cosmos/cosmos-sdk/pull/12445) Migrate `x/crisis` to self-managed parameters and deprecate it's usage of `x/params`.
+* (x/staking) [#12409](https://github.com/cosmos/cosmos-sdk/pull/12409) Migrate `x/staking` to self-managed parameters and deprecate it's usage of `x/params`.
+
 
 ### API Breaking Changes
 
@@ -84,6 +86,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * (x/staking) [#12102](https://github.com/cosmos/cosmos-sdk/pull/12102) Staking keeper now is passed by reference instead of copy. Keeper's SetHooks no longer returns keeper. It updates the keeper in place instead.
 * (linting) [#12141](https://github.com/cosmos/cosmos-sdk/pull/12141) Fix usability related linting for database.  This means removing the infix Prefix from `prefix.NewPrefixWriter` and such so that it is `prefix.NewWriter` and making `db.DBConnection` and such into `db.Connection`
 * (x/distribution) [#12434](https://github.com/cosmos/cosmos-sdk/pull/12434) `x/distribution` module `SetParams` keeper method definition is now updated to return `error`.
+* (x/staking) [#12409](https://github.com/cosmos/cosmos-sdk/pull/12409) `x/staking` module `SetParams` keeper method definition is now updated to return `error`.
 * (x/crisis) [#12445](https://github.com/cosmos/cosmos-sdk/pull/12445) `x/crisis` module `SetConstantFee` keeper method definition is now updated to return `error`.
 
 ### CLI Breaking Changes
diff --git a/api/cosmos/staking/v1beta1/genesis.pulsar.go b/api/cosmos/staking/v1beta1/genesis.pulsar.go
index 5e423b11973c..094309b4420f 100644
--- a/api/cosmos/staking/v1beta1/genesis.pulsar.go
+++ b/api/cosmos/staking/v1beta1/genesis.pulsar.go
@@ -1746,7 +1746,7 @@ type GenesisState struct {
 	sizeCache     protoimpl.SizeCache
 	unknownFields protoimpl.UnknownFields
 
-	// params defines all the paramaters of related to deposit.
+	// params defines all the parameters of related to deposit.
 	Params *Params `protobuf:"bytes,1,opt,name=params,proto3" json:"params,omitempty"`
 	// last_total_power tracks the total amounts of bonded tokens recorded during
 	// the previous end block.
diff --git a/api/cosmos/staking/v1beta1/staking.pulsar.go b/api/cosmos/staking/v1beta1/staking.pulsar.go
index 7e027f3b670a..4fa721fc27c1 100644
--- a/api/cosmos/staking/v1beta1/staking.pulsar.go
+++ b/api/cosmos/staking/v1beta1/staking.pulsar.go
@@ -12706,7 +12706,7 @@ func (x *Redelegation) GetEntries() []*RedelegationEntry {
 	return nil
 }
 
-// Params defines the parameters for the staking module.
+// Params defines the parameters for the x/staking module.
 type Params struct {
 	state         protoimpl.MessageState
 	sizeCache     protoimpl.SizeCache
diff --git a/api/cosmos/staking/v1beta1/tx.pulsar.go b/api/cosmos/staking/v1beta1/tx.pulsar.go
index a2ff599dec41..b265c158358e 100644
--- a/api/cosmos/staking/v1beta1/tx.pulsar.go
+++ b/api/cosmos/staking/v1beta1/tx.pulsar.go
@@ -6167,6 +6167,861 @@ func (x *fastReflection_MsgCancelUnbondingDelegationResponse) ProtoMethods() *pr
 	}
 }
 
+var (
+	md_MsgUpdateParams           protoreflect.MessageDescriptor
+	fd_MsgUpdateParams_authority protoreflect.FieldDescriptor
+	fd_MsgUpdateParams_params    protoreflect.FieldDescriptor
+)
+
+func init() {
+	file_cosmos_staking_v1beta1_tx_proto_init()
+	md_MsgUpdateParams = File_cosmos_staking_v1beta1_tx_proto.Messages().ByName("MsgUpdateParams")
+	fd_MsgUpdateParams_authority = md_MsgUpdateParams.Fields().ByName("authority")
+	fd_MsgUpdateParams_params = md_MsgUpdateParams.Fields().ByName("params")
+}
+
+var _ protoreflect.Message = (*fastReflection_MsgUpdateParams)(nil)
+
+type fastReflection_MsgUpdateParams MsgUpdateParams
+
+func (x *MsgUpdateParams) ProtoReflect() protoreflect.Message {
+	return (*fastReflection_MsgUpdateParams)(x)
+}
+
+func (x *MsgUpdateParams) slowProtoReflect() protoreflect.Message {
+	mi := &file_cosmos_staking_v1beta1_tx_proto_msgTypes[12]
+	if protoimpl.UnsafeEnabled && x != nil {
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		if ms.LoadMessageInfo() == nil {
+			ms.StoreMessageInfo(mi)
+		}
+		return ms
+	}
+	return mi.MessageOf(x)
+}
+
+var _fastReflection_MsgUpdateParams_messageType fastReflection_MsgUpdateParams_messageType
+var _ protoreflect.MessageType = fastReflection_MsgUpdateParams_messageType{}
+
+type fastReflection_MsgUpdateParams_messageType struct{}
+
+func (x fastReflection_MsgUpdateParams_messageType) Zero() protoreflect.Message {
+	return (*fastReflection_MsgUpdateParams)(nil)
+}
+func (x fastReflection_MsgUpdateParams_messageType) New() protoreflect.Message {
+	return new(fastReflection_MsgUpdateParams)
+}
+func (x fastReflection_MsgUpdateParams_messageType) Descriptor() protoreflect.MessageDescriptor {
+	return md_MsgUpdateParams
+}
+
+// Descriptor returns message descriptor, which contains only the protobuf
+// type information for the message.
+func (x *fastReflection_MsgUpdateParams) Descriptor() protoreflect.MessageDescriptor {
+	return md_MsgUpdateParams
+}
+
+// Type returns the message type, which encapsulates both Go and protobuf
+// type information. If the Go type information is not needed,
+// it is recommended that the message descriptor be used instead.
+func (x *fastReflection_MsgUpdateParams) Type() protoreflect.MessageType {
+	return _fastReflection_MsgUpdateParams_messageType
+}
+
+// New returns a newly allocated and mutable empty message.
+func (x *fastReflection_MsgUpdateParams) New() protoreflect.Message {
+	return new(fastReflection_MsgUpdateParams)
+}
+
+// Interface unwraps the message reflection interface and
+// returns the underlying ProtoMessage interface.
+func (x *fastReflection_MsgUpdateParams) Interface() protoreflect.ProtoMessage {
+	return (*MsgUpdateParams)(x)
+}
+
+// Range iterates over every populated field in an undefined order,
+// calling f for each field descriptor and value encountered.
+// Range returns immediately if f returns false.
+// While iterating, mutating operations may only be performed
+// on the current field descriptor.
+func (x *fastReflection_MsgUpdateParams) Range(f func(protoreflect.FieldDescriptor, protoreflect.Value) bool) {
+	if x.Authority != "" {
+		value := protoreflect.ValueOfString(x.Authority)
+		if !f(fd_MsgUpdateParams_authority, value) {
+			return
+		}
+	}
+	if x.Params != nil {
+		value := protoreflect.ValueOfMessage(x.Params.ProtoReflect())
+		if !f(fd_MsgUpdateParams_params, value) {
+			return
+		}
+	}
+}
+
+// Has reports whether a field is populated.
+//
+// Some fields have the property of nullability where it is possible to
+// distinguish between the default value of a field and whether the field
+// was explicitly populated with the default value. Singular message fields,
+// member fields of a oneof, and proto2 scalar fields are nullable. Such
+// fields are populated only if explicitly set.
+//
+// In other cases (aside from the nullable cases above),
+// a proto3 scalar field is populated if it contains a non-zero value, and
+// a repeated field is populated if it is non-empty.
+func (x *fastReflection_MsgUpdateParams) Has(fd protoreflect.FieldDescriptor) bool {
+	switch fd.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		return x.Authority != ""
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		return x.Params != nil
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", fd.FullName()))
+	}
+}
+
+// Clear clears the field such that a subsequent Has call reports false.
+//
+// Clearing an extension field clears both the extension type and value
+// associated with the given field number.
+//
+// Clear is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParams) Clear(fd protoreflect.FieldDescriptor) {
+	switch fd.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		x.Authority = ""
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		x.Params = nil
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", fd.FullName()))
+	}
+}
+
+// Get retrieves the value for a field.
+//
+// For unpopulated scalars, it returns the default value, where
+// the default value of a bytes scalar is guaranteed to be a copy.
+// For unpopulated composite types, it returns an empty, read-only view
+// of the value; to obtain a mutable reference, use Mutable.
+func (x *fastReflection_MsgUpdateParams) Get(descriptor protoreflect.FieldDescriptor) protoreflect.Value {
+	switch descriptor.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		value := x.Authority
+		return protoreflect.ValueOfString(value)
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		value := x.Params
+		return protoreflect.ValueOfMessage(value.ProtoReflect())
+	default:
+		if descriptor.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", descriptor.FullName()))
+	}
+}
+
+// Set stores the value for a field.
+//
+// For a field belonging to a oneof, it implicitly clears any other field
+// that may be currently set within the same oneof.
+// For extension fields, it implicitly stores the provided ExtensionType.
+// When setting a composite type, it is unspecified whether the stored value
+// aliases the source's memory in any way. If the composite value is an
+// empty, read-only value, then it panics.
+//
+// Set is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParams) Set(fd protoreflect.FieldDescriptor, value protoreflect.Value) {
+	switch fd.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		x.Authority = value.Interface().(string)
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		x.Params = value.Message().Interface().(*Params)
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", fd.FullName()))
+	}
+}
+
+// Mutable returns a mutable reference to a composite type.
+//
+// If the field is unpopulated, it may allocate a composite value.
+// For a field belonging to a oneof, it implicitly clears any other field
+// that may be currently set within the same oneof.
+// For extension fields, it implicitly stores the provided ExtensionType
+// if not already stored.
+// It panics if the field does not contain a composite type.
+//
+// Mutable is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParams) Mutable(fd protoreflect.FieldDescriptor) protoreflect.Value {
+	switch fd.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		if x.Params == nil {
+			x.Params = new(Params)
+		}
+		return protoreflect.ValueOfMessage(x.Params.ProtoReflect())
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		panic(fmt.Errorf("field authority of message cosmos.staking.v1beta1.MsgUpdateParams is not mutable"))
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", fd.FullName()))
+	}
+}
+
+// NewField returns a new value that is assignable to the field
+// for the given descriptor. For scalars, this returns the default value.
+// For lists, maps, and messages, this returns a new, empty, mutable value.
+func (x *fastReflection_MsgUpdateParams) NewField(fd protoreflect.FieldDescriptor) protoreflect.Value {
+	switch fd.FullName() {
+	case "cosmos.staking.v1beta1.MsgUpdateParams.authority":
+		return protoreflect.ValueOfString("")
+	case "cosmos.staking.v1beta1.MsgUpdateParams.params":
+		m := new(Params)
+		return protoreflect.ValueOfMessage(m.ProtoReflect())
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParams"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParams does not contain field %s", fd.FullName()))
+	}
+}
+
+// WhichOneof reports which field within the oneof is populated,
+// returning nil if none are populated.
+// It panics if the oneof descriptor does not belong to this message.
+func (x *fastReflection_MsgUpdateParams) WhichOneof(d protoreflect.OneofDescriptor) protoreflect.FieldDescriptor {
+	switch d.FullName() {
+	default:
+		panic(fmt.Errorf("%s is not a oneof field in cosmos.staking.v1beta1.MsgUpdateParams", d.FullName()))
+	}
+	panic("unreachable")
+}
+
+// GetUnknown retrieves the entire list of unknown fields.
+// The caller may only mutate the contents of the RawFields
+// if the mutated bytes are stored back into the message with SetUnknown.
+func (x *fastReflection_MsgUpdateParams) GetUnknown() protoreflect.RawFields {
+	return x.unknownFields
+}
+
+// SetUnknown stores an entire list of unknown fields.
+// The raw fields must be syntactically valid according to the wire format.
+// An implementation may panic if this is not the case.
+// Once stored, the caller must not mutate the content of the RawFields.
+// An empty RawFields may be passed to clear the fields.
+//
+// SetUnknown is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParams) SetUnknown(fields protoreflect.RawFields) {
+	x.unknownFields = fields
+}
+
+// IsValid reports whether the message is valid.
+//
+// An invalid message is an empty, read-only value.
+//
+// An invalid message often corresponds to a nil pointer of the concrete
+// message type, but the details are implementation dependent.
+// Validity is not part of the protobuf data model, and may not
+// be preserved in marshaling or other operations.
+func (x *fastReflection_MsgUpdateParams) IsValid() bool {
+	return x != nil
+}
+
+// ProtoMethods returns optional fastReflectionFeature-path implementations of various operations.
+// This method may return nil.
+//
+// The returned methods type is identical to
+// "google.golang.org/protobuf/runtime/protoiface".Methods.
+// Consult the protoiface package documentation for details.
+func (x *fastReflection_MsgUpdateParams) ProtoMethods() *protoiface.Methods {
+	size := func(input protoiface.SizeInput) protoiface.SizeOutput {
+		x := input.Message.Interface().(*MsgUpdateParams)
+		if x == nil {
+			return protoiface.SizeOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Size:              0,
+			}
+		}
+		options := runtime.SizeInputToOptions(input)
+		_ = options
+		var n int
+		var l int
+		_ = l
+		l = len(x.Authority)
+		if l > 0 {
+			n += 1 + l + runtime.Sov(uint64(l))
+		}
+		if x.Params != nil {
+			l = options.Size(x.Params)
+			n += 1 + l + runtime.Sov(uint64(l))
+		}
+		if x.unknownFields != nil {
+			n += len(x.unknownFields)
+		}
+		return protoiface.SizeOutput{
+			NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+			Size:              n,
+		}
+	}
+
+	marshal := func(input protoiface.MarshalInput) (protoiface.MarshalOutput, error) {
+		x := input.Message.Interface().(*MsgUpdateParams)
+		if x == nil {
+			return protoiface.MarshalOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Buf:               input.Buf,
+			}, nil
+		}
+		options := runtime.MarshalInputToOptions(input)
+		_ = options
+		size := options.Size(x)
+		dAtA := make([]byte, size)
+		i := len(dAtA)
+		_ = i
+		var l int
+		_ = l
+		if x.unknownFields != nil {
+			i -= len(x.unknownFields)
+			copy(dAtA[i:], x.unknownFields)
+		}
+		if x.Params != nil {
+			encoded, err := options.Marshal(x.Params)
+			if err != nil {
+				return protoiface.MarshalOutput{
+					NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+					Buf:               input.Buf,
+				}, err
+			}
+			i -= len(encoded)
+			copy(dAtA[i:], encoded)
+			i = runtime.EncodeVarint(dAtA, i, uint64(len(encoded)))
+			i--
+			dAtA[i] = 0x12
+		}
+		if len(x.Authority) > 0 {
+			i -= len(x.Authority)
+			copy(dAtA[i:], x.Authority)
+			i = runtime.EncodeVarint(dAtA, i, uint64(len(x.Authority)))
+			i--
+			dAtA[i] = 0xa
+		}
+		if input.Buf != nil {
+			input.Buf = append(input.Buf, dAtA...)
+		} else {
+			input.Buf = dAtA
+		}
+		return protoiface.MarshalOutput{
+			NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+			Buf:               input.Buf,
+		}, nil
+	}
+	unmarshal := func(input protoiface.UnmarshalInput) (protoiface.UnmarshalOutput, error) {
+		x := input.Message.Interface().(*MsgUpdateParams)
+		if x == nil {
+			return protoiface.UnmarshalOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Flags:             input.Flags,
+			}, nil
+		}
+		options := runtime.UnmarshalInputToOptions(input)
+		_ = options
+		dAtA := input.Buf
+		l := len(dAtA)
+		iNdEx := 0
+		for iNdEx < l {
+			preIndex := iNdEx
+			var wire uint64
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrIntOverflow
+				}
+				if iNdEx >= l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				wire |= uint64(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			fieldNum := int32(wire >> 3)
+			wireType := int(wire & 0x7)
+			if wireType == 4 {
+				return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: MsgUpdateParams: wiretype end group for non-group")
+			}
+			if fieldNum <= 0 {
+				return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: MsgUpdateParams: illegal tag %d (wire type %d)", fieldNum, wire)
+			}
+			switch fieldNum {
+			case 1:
+				if wireType != 2 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: wrong wireType = %d for field Authority", wireType)
+				}
+				var stringLen uint64
+				for shift := uint(0); ; shift += 7 {
+					if shift >= 64 {
+						return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrIntOverflow
+					}
+					if iNdEx >= l {
+						return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+					}
+					b := dAtA[iNdEx]
+					iNdEx++
+					stringLen |= uint64(b&0x7F) << shift
+					if b < 0x80 {
+						break
+					}
+				}
+				intStringLen := int(stringLen)
+				if intStringLen < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				postIndex := iNdEx + intStringLen
+				if postIndex < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				if postIndex > l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				x.Authority = string(dAtA[iNdEx:postIndex])
+				iNdEx = postIndex
+			case 2:
+				if wireType != 2 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: wrong wireType = %d for field Params", wireType)
+				}
+				var msglen int
+				for shift := uint(0); ; shift += 7 {
+					if shift >= 64 {
+						return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrIntOverflow
+					}
+					if iNdEx >= l {
+						return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+					}
+					b := dAtA[iNdEx]
+					iNdEx++
+					msglen |= int(b&0x7F) << shift
+					if b < 0x80 {
+						break
+					}
+				}
+				if msglen < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				postIndex := iNdEx + msglen
+				if postIndex < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				if postIndex > l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				if x.Params == nil {
+					x.Params = &Params{}
+				}
+				if err := options.Unmarshal(dAtA[iNdEx:postIndex], x.Params); err != nil {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, err
+				}
+				iNdEx = postIndex
+			default:
+				iNdEx = preIndex
+				skippy, err := runtime.Skip(dAtA[iNdEx:])
+				if err != nil {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, err
+				}
+				if (skippy < 0) || (iNdEx+skippy) < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				if (iNdEx + skippy) > l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				if !options.DiscardUnknown {
+					x.unknownFields = append(x.unknownFields, dAtA[iNdEx:iNdEx+skippy]...)
+				}
+				iNdEx += skippy
+			}
+		}
+
+		if iNdEx > l {
+			return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+		}
+		return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, nil
+	}
+	return &protoiface.Methods{
+		NoUnkeyedLiterals: struct{}{},
+		Flags:             protoiface.SupportMarshalDeterministic | protoiface.SupportUnmarshalDiscardUnknown,
+		Size:              size,
+		Marshal:           marshal,
+		Unmarshal:         unmarshal,
+		Merge:             nil,
+		CheckInitialized:  nil,
+	}
+}
+
+var (
+	md_MsgUpdateParamsResponse protoreflect.MessageDescriptor
+)
+
+func init() {
+	file_cosmos_staking_v1beta1_tx_proto_init()
+	md_MsgUpdateParamsResponse = File_cosmos_staking_v1beta1_tx_proto.Messages().ByName("MsgUpdateParamsResponse")
+}
+
+var _ protoreflect.Message = (*fastReflection_MsgUpdateParamsResponse)(nil)
+
+type fastReflection_MsgUpdateParamsResponse MsgUpdateParamsResponse
+
+func (x *MsgUpdateParamsResponse) ProtoReflect() protoreflect.Message {
+	return (*fastReflection_MsgUpdateParamsResponse)(x)
+}
+
+func (x *MsgUpdateParamsResponse) slowProtoReflect() protoreflect.Message {
+	mi := &file_cosmos_staking_v1beta1_tx_proto_msgTypes[13]
+	if protoimpl.UnsafeEnabled && x != nil {
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		if ms.LoadMessageInfo() == nil {
+			ms.StoreMessageInfo(mi)
+		}
+		return ms
+	}
+	return mi.MessageOf(x)
+}
+
+var _fastReflection_MsgUpdateParamsResponse_messageType fastReflection_MsgUpdateParamsResponse_messageType
+var _ protoreflect.MessageType = fastReflection_MsgUpdateParamsResponse_messageType{}
+
+type fastReflection_MsgUpdateParamsResponse_messageType struct{}
+
+func (x fastReflection_MsgUpdateParamsResponse_messageType) Zero() protoreflect.Message {
+	return (*fastReflection_MsgUpdateParamsResponse)(nil)
+}
+func (x fastReflection_MsgUpdateParamsResponse_messageType) New() protoreflect.Message {
+	return new(fastReflection_MsgUpdateParamsResponse)
+}
+func (x fastReflection_MsgUpdateParamsResponse_messageType) Descriptor() protoreflect.MessageDescriptor {
+	return md_MsgUpdateParamsResponse
+}
+
+// Descriptor returns message descriptor, which contains only the protobuf
+// type information for the message.
+func (x *fastReflection_MsgUpdateParamsResponse) Descriptor() protoreflect.MessageDescriptor {
+	return md_MsgUpdateParamsResponse
+}
+
+// Type returns the message type, which encapsulates both Go and protobuf
+// type information. If the Go type information is not needed,
+// it is recommended that the message descriptor be used instead.
+func (x *fastReflection_MsgUpdateParamsResponse) Type() protoreflect.MessageType {
+	return _fastReflection_MsgUpdateParamsResponse_messageType
+}
+
+// New returns a newly allocated and mutable empty message.
+func (x *fastReflection_MsgUpdateParamsResponse) New() protoreflect.Message {
+	return new(fastReflection_MsgUpdateParamsResponse)
+}
+
+// Interface unwraps the message reflection interface and
+// returns the underlying ProtoMessage interface.
+func (x *fastReflection_MsgUpdateParamsResponse) Interface() protoreflect.ProtoMessage {
+	return (*MsgUpdateParamsResponse)(x)
+}
+
+// Range iterates over every populated field in an undefined order,
+// calling f for each field descriptor and value encountered.
+// Range returns immediately if f returns false.
+// While iterating, mutating operations may only be performed
+// on the current field descriptor.
+func (x *fastReflection_MsgUpdateParamsResponse) Range(f func(protoreflect.FieldDescriptor, protoreflect.Value) bool) {
+}
+
+// Has reports whether a field is populated.
+//
+// Some fields have the property of nullability where it is possible to
+// distinguish between the default value of a field and whether the field
+// was explicitly populated with the default value. Singular message fields,
+// member fields of a oneof, and proto2 scalar fields are nullable. Such
+// fields are populated only if explicitly set.
+//
+// In other cases (aside from the nullable cases above),
+// a proto3 scalar field is populated if it contains a non-zero value, and
+// a repeated field is populated if it is non-empty.
+func (x *fastReflection_MsgUpdateParamsResponse) Has(fd protoreflect.FieldDescriptor) bool {
+	switch fd.FullName() {
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", fd.FullName()))
+	}
+}
+
+// Clear clears the field such that a subsequent Has call reports false.
+//
+// Clearing an extension field clears both the extension type and value
+// associated with the given field number.
+//
+// Clear is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParamsResponse) Clear(fd protoreflect.FieldDescriptor) {
+	switch fd.FullName() {
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", fd.FullName()))
+	}
+}
+
+// Get retrieves the value for a field.
+//
+// For unpopulated scalars, it returns the default value, where
+// the default value of a bytes scalar is guaranteed to be a copy.
+// For unpopulated composite types, it returns an empty, read-only view
+// of the value; to obtain a mutable reference, use Mutable.
+func (x *fastReflection_MsgUpdateParamsResponse) Get(descriptor protoreflect.FieldDescriptor) protoreflect.Value {
+	switch descriptor.FullName() {
+	default:
+		if descriptor.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", descriptor.FullName()))
+	}
+}
+
+// Set stores the value for a field.
+//
+// For a field belonging to a oneof, it implicitly clears any other field
+// that may be currently set within the same oneof.
+// For extension fields, it implicitly stores the provided ExtensionType.
+// When setting a composite type, it is unspecified whether the stored value
+// aliases the source's memory in any way. If the composite value is an
+// empty, read-only value, then it panics.
+//
+// Set is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParamsResponse) Set(fd protoreflect.FieldDescriptor, value protoreflect.Value) {
+	switch fd.FullName() {
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", fd.FullName()))
+	}
+}
+
+// Mutable returns a mutable reference to a composite type.
+//
+// If the field is unpopulated, it may allocate a composite value.
+// For a field belonging to a oneof, it implicitly clears any other field
+// that may be currently set within the same oneof.
+// For extension fields, it implicitly stores the provided ExtensionType
+// if not already stored.
+// It panics if the field does not contain a composite type.
+//
+// Mutable is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParamsResponse) Mutable(fd protoreflect.FieldDescriptor) protoreflect.Value {
+	switch fd.FullName() {
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", fd.FullName()))
+	}
+}
+
+// NewField returns a new value that is assignable to the field
+// for the given descriptor. For scalars, this returns the default value.
+// For lists, maps, and messages, this returns a new, empty, mutable value.
+func (x *fastReflection_MsgUpdateParamsResponse) NewField(fd protoreflect.FieldDescriptor) protoreflect.Value {
+	switch fd.FullName() {
+	default:
+		if fd.IsExtension() {
+			panic(fmt.Errorf("proto3 declared messages do not support extensions: cosmos.staking.v1beta1.MsgUpdateParamsResponse"))
+		}
+		panic(fmt.Errorf("message cosmos.staking.v1beta1.MsgUpdateParamsResponse does not contain field %s", fd.FullName()))
+	}
+}
+
+// WhichOneof reports which field within the oneof is populated,
+// returning nil if none are populated.
+// It panics if the oneof descriptor does not belong to this message.
+func (x *fastReflection_MsgUpdateParamsResponse) WhichOneof(d protoreflect.OneofDescriptor) protoreflect.FieldDescriptor {
+	switch d.FullName() {
+	default:
+		panic(fmt.Errorf("%s is not a oneof field in cosmos.staking.v1beta1.MsgUpdateParamsResponse", d.FullName()))
+	}
+	panic("unreachable")
+}
+
+// GetUnknown retrieves the entire list of unknown fields.
+// The caller may only mutate the contents of the RawFields
+// if the mutated bytes are stored back into the message with SetUnknown.
+func (x *fastReflection_MsgUpdateParamsResponse) GetUnknown() protoreflect.RawFields {
+	return x.unknownFields
+}
+
+// SetUnknown stores an entire list of unknown fields.
+// The raw fields must be syntactically valid according to the wire format.
+// An implementation may panic if this is not the case.
+// Once stored, the caller must not mutate the content of the RawFields.
+// An empty RawFields may be passed to clear the fields.
+//
+// SetUnknown is a mutating operation and unsafe for concurrent use.
+func (x *fastReflection_MsgUpdateParamsResponse) SetUnknown(fields protoreflect.RawFields) {
+	x.unknownFields = fields
+}
+
+// IsValid reports whether the message is valid.
+//
+// An invalid message is an empty, read-only value.
+//
+// An invalid message often corresponds to a nil pointer of the concrete
+// message type, but the details are implementation dependent.
+// Validity is not part of the protobuf data model, and may not
+// be preserved in marshaling or other operations.
+func (x *fastReflection_MsgUpdateParamsResponse) IsValid() bool {
+	return x != nil
+}
+
+// ProtoMethods returns optional fastReflectionFeature-path implementations of various operations.
+// This method may return nil.
+//
+// The returned methods type is identical to
+// "google.golang.org/protobuf/runtime/protoiface".Methods.
+// Consult the protoiface package documentation for details.
+func (x *fastReflection_MsgUpdateParamsResponse) ProtoMethods() *protoiface.Methods {
+	size := func(input protoiface.SizeInput) protoiface.SizeOutput {
+		x := input.Message.Interface().(*MsgUpdateParamsResponse)
+		if x == nil {
+			return protoiface.SizeOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Size:              0,
+			}
+		}
+		options := runtime.SizeInputToOptions(input)
+		_ = options
+		var n int
+		var l int
+		_ = l
+		if x.unknownFields != nil {
+			n += len(x.unknownFields)
+		}
+		return protoiface.SizeOutput{
+			NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+			Size:              n,
+		}
+	}
+
+	marshal := func(input protoiface.MarshalInput) (protoiface.MarshalOutput, error) {
+		x := input.Message.Interface().(*MsgUpdateParamsResponse)
+		if x == nil {
+			return protoiface.MarshalOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Buf:               input.Buf,
+			}, nil
+		}
+		options := runtime.MarshalInputToOptions(input)
+		_ = options
+		size := options.Size(x)
+		dAtA := make([]byte, size)
+		i := len(dAtA)
+		_ = i
+		var l int
+		_ = l
+		if x.unknownFields != nil {
+			i -= len(x.unknownFields)
+			copy(dAtA[i:], x.unknownFields)
+		}
+		if input.Buf != nil {
+			input.Buf = append(input.Buf, dAtA...)
+		} else {
+			input.Buf = dAtA
+		}
+		return protoiface.MarshalOutput{
+			NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+			Buf:               input.Buf,
+		}, nil
+	}
+	unmarshal := func(input protoiface.UnmarshalInput) (protoiface.UnmarshalOutput, error) {
+		x := input.Message.Interface().(*MsgUpdateParamsResponse)
+		if x == nil {
+			return protoiface.UnmarshalOutput{
+				NoUnkeyedLiterals: input.NoUnkeyedLiterals,
+				Flags:             input.Flags,
+			}, nil
+		}
+		options := runtime.UnmarshalInputToOptions(input)
+		_ = options
+		dAtA := input.Buf
+		l := len(dAtA)
+		iNdEx := 0
+		for iNdEx < l {
+			preIndex := iNdEx
+			var wire uint64
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrIntOverflow
+				}
+				if iNdEx >= l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				wire |= uint64(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			fieldNum := int32(wire >> 3)
+			wireType := int(wire & 0x7)
+			if wireType == 4 {
+				return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: MsgUpdateParamsResponse: wiretype end group for non-group")
+			}
+			if fieldNum <= 0 {
+				return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, fmt.Errorf("proto: MsgUpdateParamsResponse: illegal tag %d (wire type %d)", fieldNum, wire)
+			}
+			switch fieldNum {
+			default:
+				iNdEx = preIndex
+				skippy, err := runtime.Skip(dAtA[iNdEx:])
+				if err != nil {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, err
+				}
+				if (skippy < 0) || (iNdEx+skippy) < 0 {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, runtime.ErrInvalidLength
+				}
+				if (iNdEx + skippy) > l {
+					return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+				}
+				if !options.DiscardUnknown {
+					x.unknownFields = append(x.unknownFields, dAtA[iNdEx:iNdEx+skippy]...)
+				}
+				iNdEx += skippy
+			}
+		}
+
+		if iNdEx > l {
+			return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, io.ErrUnexpectedEOF
+		}
+		return protoiface.UnmarshalOutput{NoUnkeyedLiterals: input.NoUnkeyedLiterals, Flags: input.Flags}, nil
+	}
+	return &protoiface.Methods{
+		NoUnkeyedLiterals: struct{}{},
+		Flags:             protoiface.SupportMarshalDeterministic | protoiface.SupportUnmarshalDiscardUnknown,
+		Size:              size,
+		Marshal:           marshal,
+		Unmarshal:         unmarshal,
+		Merge:             nil,
+		CheckInitialized:  nil,
+	}
+}
+
 // Code generated by protoc-gen-go. DO NOT EDIT.
 // versions:
 // 	protoc-gen-go v1.27.0
@@ -6741,6 +7596,86 @@ func (*MsgCancelUnbondingDelegationResponse) Descriptor() ([]byte, []int) {
 	return file_cosmos_staking_v1beta1_tx_proto_rawDescGZIP(), []int{11}
 }
 
+// MsgUpdateParams is the Msg/UpdateParams request type.
+//
+// Since: cosmos-sdk 0.47
+type MsgUpdateParams struct {
+	state         protoimpl.MessageState
+	sizeCache     protoimpl.SizeCache
+	unknownFields protoimpl.UnknownFields
+
+	// authority is the address of the governance account.
+	Authority string `protobuf:"bytes,1,opt,name=authority,proto3" json:"authority,omitempty"`
+	// params defines the x/staking parameters to update.
+	//
+	// NOTE: All parameters must be supplied.
+	Params *Params `protobuf:"bytes,2,opt,name=params,proto3" json:"params,omitempty"`
+}
+
+func (x *MsgUpdateParams) Reset() {
+	*x = MsgUpdateParams{}
+	if protoimpl.UnsafeEnabled {
+		mi := &file_cosmos_staking_v1beta1_tx_proto_msgTypes[12]
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		ms.StoreMessageInfo(mi)
+	}
+}
+
+func (x *MsgUpdateParams) String() string {
+	return protoimpl.X.MessageStringOf(x)
+}
+
+func (*MsgUpdateParams) ProtoMessage() {}
+
+// Deprecated: Use MsgUpdateParams.ProtoReflect.Descriptor instead.
+func (*MsgUpdateParams) Descriptor() ([]byte, []int) {
+	return file_cosmos_staking_v1beta1_tx_proto_rawDescGZIP(), []int{12}
+}
+
+func (x *MsgUpdateParams) GetAuthority() string {
+	if x != nil {
+		return x.Authority
+	}
+	return ""
+}
+
+func (x *MsgUpdateParams) GetParams() *Params {
+	if x != nil {
+		return x.Params
+	}
+	return nil
+}
+
+// MsgUpdateParamsResponse defines the response structure for executing a
+// MsgUpdateParams message.
+//
+// Since: cosmos-sdk 0.47
+type MsgUpdateParamsResponse struct {
+	state         protoimpl.MessageState
+	sizeCache     protoimpl.SizeCache
+	unknownFields protoimpl.UnknownFields
+}
+
+func (x *MsgUpdateParamsResponse) Reset() {
+	*x = MsgUpdateParamsResponse{}
+	if protoimpl.UnsafeEnabled {
+		mi := &file_cosmos_staking_v1beta1_tx_proto_msgTypes[13]
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		ms.StoreMessageInfo(mi)
+	}
+}
+
+func (x *MsgUpdateParamsResponse) String() string {
+	return protoimpl.X.MessageStringOf(x)
+}
+
+func (*MsgUpdateParamsResponse) ProtoMessage() {}
+
+// Deprecated: Use MsgUpdateParamsResponse.ProtoReflect.Descriptor instead.
+func (*MsgUpdateParamsResponse) Descriptor() ([]byte, []int) {
+	return file_cosmos_staking_v1beta1_tx_proto_rawDescGZIP(), []int{13}
+}
+
 var File_cosmos_staking_v1beta1_tx_proto protoreflect.FileDescriptor
 
 var file_cosmos_staking_v1beta1_tx_proto_rawDesc = []byte{
@@ -6916,64 +7851,82 @@ var file_cosmos_staking_v1beta1_tx_proto_rawDesc = []byte{
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 }
 
 var (
@@ -6988,7 +7941,7 @@ func file_cosmos_staking_v1beta1_tx_proto_rawDescGZIP() []byte {
 	return file_cosmos_staking_v1beta1_tx_proto_rawDescData
 }
 
-var file_cosmos_staking_v1beta1_tx_proto_msgTypes = make([]protoimpl.MessageInfo, 12)
+var file_cosmos_staking_v1beta1_tx_proto_msgTypes = make([]protoimpl.MessageInfo, 14)
 var file_cosmos_staking_v1beta1_tx_proto_goTypes = []interface{}{
 	(*MsgCreateValidator)(nil),                   // 0: cosmos.staking.v1beta1.MsgCreateValidator
 	(*MsgCreateValidatorResponse)(nil),           // 1: cosmos.staking.v1beta1.MsgCreateValidatorResponse
@@ -7002,41 +7955,47 @@ var file_cosmos_staking_v1beta1_tx_proto_goTypes = []interface{}{
 	(*MsgUndelegateResponse)(nil),                // 9: cosmos.staking.v1beta1.MsgUndelegateResponse
 	(*MsgCancelUnbondingDelegation)(nil),         // 10: cosmos.staking.v1beta1.MsgCancelUnbondingDelegation
 	(*MsgCancelUnbondingDelegationResponse)(nil), // 11: cosmos.staking.v1beta1.MsgCancelUnbondingDelegationResponse
-	(*Description)(nil),                          // 12: cosmos.staking.v1beta1.Description
-	(*CommissionRates)(nil),                      // 13: cosmos.staking.v1beta1.CommissionRates
-	(*anypb.Any)(nil),                            // 14: google.protobuf.Any
-	(*v1beta1.Coin)(nil),                         // 15: cosmos.base.v1beta1.Coin
-	(*timestamppb.Timestamp)(nil),                // 16: google.protobuf.Timestamp
+	(*MsgUpdateParams)(nil),                      // 12: cosmos.staking.v1beta1.MsgUpdateParams
+	(*MsgUpdateParamsResponse)(nil),              // 13: cosmos.staking.v1beta1.MsgUpdateParamsResponse
+	(*Description)(nil),                          // 14: cosmos.staking.v1beta1.Description
+	(*CommissionRates)(nil),                      // 15: cosmos.staking.v1beta1.CommissionRates
+	(*anypb.Any)(nil),                            // 16: google.protobuf.Any
+	(*v1beta1.Coin)(nil),                         // 17: cosmos.base.v1beta1.Coin
+	(*timestamppb.Timestamp)(nil),                // 18: google.protobuf.Timestamp
+	(*Params)(nil),                               // 19: cosmos.staking.v1beta1.Params
 }
 var file_cosmos_staking_v1beta1_tx_proto_depIdxs = []int32{
-	12, // 0: cosmos.staking.v1beta1.MsgCreateValidator.description:type_name -> cosmos.staking.v1beta1.Description
-	13, // 1: cosmos.staking.v1beta1.MsgCreateValidator.commission:type_name -> cosmos.staking.v1beta1.CommissionRates
-	14, // 2: cosmos.staking.v1beta1.MsgCreateValidator.pubkey:type_name -> google.protobuf.Any
-	15, // 3: cosmos.staking.v1beta1.MsgCreateValidator.value:type_name -> cosmos.base.v1beta1.Coin
-	12, // 4: cosmos.staking.v1beta1.MsgEditValidator.description:type_name -> cosmos.staking.v1beta1.Description
-	15, // 5: cosmos.staking.v1beta1.MsgDelegate.amount:type_name -> cosmos.base.v1beta1.Coin
-	15, // 6: cosmos.staking.v1beta1.MsgBeginRedelegate.amount:type_name -> cosmos.base.v1beta1.Coin
-	16, // 7: cosmos.staking.v1beta1.MsgBeginRedelegateResponse.completion_time:type_name -> google.protobuf.Timestamp
-	15, // 8: cosmos.staking.v1beta1.MsgUndelegate.amount:type_name -> cosmos.base.v1beta1.Coin
-	16, // 9: cosmos.staking.v1beta1.MsgUndelegateResponse.completion_time:type_name -> google.protobuf.Timestamp
-	15, // 10: cosmos.staking.v1beta1.MsgCancelUnbondingDelegation.amount:type_name -> cosmos.base.v1beta1.Coin
-	0,  // 11: cosmos.staking.v1beta1.Msg.CreateValidator:input_type -> cosmos.staking.v1beta1.MsgCreateValidator
-	2,  // 12: cosmos.staking.v1beta1.Msg.EditValidator:input_type -> cosmos.staking.v1beta1.MsgEditValidator
-	4,  // 13: cosmos.staking.v1beta1.Msg.Delegate:input_type -> cosmos.staking.v1beta1.MsgDelegate
-	6,  // 14: cosmos.staking.v1beta1.Msg.BeginRedelegate:input_type -> cosmos.staking.v1beta1.MsgBeginRedelegate
-	8,  // 15: cosmos.staking.v1beta1.Msg.Undelegate:input_type -> cosmos.staking.v1beta1.MsgUndelegate
-	10, // 16: cosmos.staking.v1beta1.Msg.CancelUnbondingDelegation:input_type -> cosmos.staking.v1beta1.MsgCancelUnbondingDelegation
-	1,  // 17: cosmos.staking.v1beta1.Msg.CreateValidator:output_type -> cosmos.staking.v1beta1.MsgCreateValidatorResponse
-	3,  // 18: cosmos.staking.v1beta1.Msg.EditValidator:output_type -> cosmos.staking.v1beta1.MsgEditValidatorResponse
-	5,  // 19: cosmos.staking.v1beta1.Msg.Delegate:output_type -> cosmos.staking.v1beta1.MsgDelegateResponse
-	7,  // 20: cosmos.staking.v1beta1.Msg.BeginRedelegate:output_type -> cosmos.staking.v1beta1.MsgBeginRedelegateResponse
-	9,  // 21: cosmos.staking.v1beta1.Msg.Undelegate:output_type -> cosmos.staking.v1beta1.MsgUndelegateResponse
-	11, // 22: cosmos.staking.v1beta1.Msg.CancelUnbondingDelegation:output_type -> cosmos.staking.v1beta1.MsgCancelUnbondingDelegationResponse
-	17, // [17:23] is the sub-list for method output_type
-	11, // [11:17] is the sub-list for method input_type
-	11, // [11:11] is the sub-list for extension type_name
-	11, // [11:11] is the sub-list for extension extendee
-	0,  // [0:11] is the sub-list for field type_name
+	14, // 0: cosmos.staking.v1beta1.MsgCreateValidator.description:type_name -> cosmos.staking.v1beta1.Description
+	15, // 1: cosmos.staking.v1beta1.MsgCreateValidator.commission:type_name -> cosmos.staking.v1beta1.CommissionRates
+	16, // 2: cosmos.staking.v1beta1.MsgCreateValidator.pubkey:type_name -> google.protobuf.Any
+	17, // 3: cosmos.staking.v1beta1.MsgCreateValidator.value:type_name -> cosmos.base.v1beta1.Coin
+	14, // 4: cosmos.staking.v1beta1.MsgEditValidator.description:type_name -> cosmos.staking.v1beta1.Description
+	17, // 5: cosmos.staking.v1beta1.MsgDelegate.amount:type_name -> cosmos.base.v1beta1.Coin
+	17, // 6: cosmos.staking.v1beta1.MsgBeginRedelegate.amount:type_name -> cosmos.base.v1beta1.Coin
+	18, // 7: cosmos.staking.v1beta1.MsgBeginRedelegateResponse.completion_time:type_name -> google.protobuf.Timestamp
+	17, // 8: cosmos.staking.v1beta1.MsgUndelegate.amount:type_name -> cosmos.base.v1beta1.Coin
+	18, // 9: cosmos.staking.v1beta1.MsgUndelegateResponse.completion_time:type_name -> google.protobuf.Timestamp
+	17, // 10: cosmos.staking.v1beta1.MsgCancelUnbondingDelegation.amount:type_name -> cosmos.base.v1beta1.Coin
+	19, // 11: cosmos.staking.v1beta1.MsgUpdateParams.params:type_name -> cosmos.staking.v1beta1.Params
+	0,  // 12: cosmos.staking.v1beta1.Msg.CreateValidator:input_type -> cosmos.staking.v1beta1.MsgCreateValidator
+	2,  // 13: cosmos.staking.v1beta1.Msg.EditValidator:input_type -> cosmos.staking.v1beta1.MsgEditValidator
+	4,  // 14: cosmos.staking.v1beta1.Msg.Delegate:input_type -> cosmos.staking.v1beta1.MsgDelegate
+	6,  // 15: cosmos.staking.v1beta1.Msg.BeginRedelegate:input_type -> cosmos.staking.v1beta1.MsgBeginRedelegate
+	8,  // 16: cosmos.staking.v1beta1.Msg.Undelegate:input_type -> cosmos.staking.v1beta1.MsgUndelegate
+	10, // 17: cosmos.staking.v1beta1.Msg.CancelUnbondingDelegation:input_type -> cosmos.staking.v1beta1.MsgCancelUnbondingDelegation
+	12, // 18: cosmos.staking.v1beta1.Msg.UpdateParams:input_type -> cosmos.staking.v1beta1.MsgUpdateParams
+	1,  // 19: cosmos.staking.v1beta1.Msg.CreateValidator:output_type -> cosmos.staking.v1beta1.MsgCreateValidatorResponse
+	3,  // 20: cosmos.staking.v1beta1.Msg.EditValidator:output_type -> cosmos.staking.v1beta1.MsgEditValidatorResponse
+	5,  // 21: cosmos.staking.v1beta1.Msg.Delegate:output_type -> cosmos.staking.v1beta1.MsgDelegateResponse
+	7,  // 22: cosmos.staking.v1beta1.Msg.BeginRedelegate:output_type -> cosmos.staking.v1beta1.MsgBeginRedelegateResponse
+	9,  // 23: cosmos.staking.v1beta1.Msg.Undelegate:output_type -> cosmos.staking.v1beta1.MsgUndelegateResponse
+	11, // 24: cosmos.staking.v1beta1.Msg.CancelUnbondingDelegation:output_type -> cosmos.staking.v1beta1.MsgCancelUnbondingDelegationResponse
+	13, // 25: cosmos.staking.v1beta1.Msg.UpdateParams:output_type -> cosmos.staking.v1beta1.MsgUpdateParamsResponse
+	19, // [19:26] is the sub-list for method output_type
+	12, // [12:19] is the sub-list for method input_type
+	12, // [12:12] is the sub-list for extension type_name
+	12, // [12:12] is the sub-list for extension extendee
+	0,  // [0:12] is the sub-list for field type_name
 }
 
 func init() { file_cosmos_staking_v1beta1_tx_proto_init() }
@@ -7190,6 +8149,30 @@ func file_cosmos_staking_v1beta1_tx_proto_init() {
 				return nil
 			}
 		}
+		file_cosmos_staking_v1beta1_tx_proto_msgTypes[12].Exporter = func(v interface{}, i int) interface{} {
+			switch v := v.(*MsgUpdateParams); i {
+			case 0:
+				return &v.state
+			case 1:
+				return &v.sizeCache
+			case 2:
+				return &v.unknownFields
+			default:
+				return nil
+			}
+		}
+		file_cosmos_staking_v1beta1_tx_proto_msgTypes[13].Exporter = func(v interface{}, i int) interface{} {
+			switch v := v.(*MsgUpdateParamsResponse); i {
+			case 0:
+				return &v.state
+			case 1:
+				return &v.sizeCache
+			case 2:
+				return &v.unknownFields
+			default:
+				return nil
+			}
+		}
 	}
 	type x struct{}
 	out := protoimpl.TypeBuilder{
@@ -7197,7 +8180,7 @@ func file_cosmos_staking_v1beta1_tx_proto_init() {
 			GoPackagePath: reflect.TypeOf(x{}).PkgPath(),
 			RawDescriptor: file_cosmos_staking_v1beta1_tx_proto_rawDesc,
 			NumEnums:      0,
-			NumMessages:   12,
+			NumMessages:   14,
 			NumExtensions: 0,
 			NumServices:   1,
 		},
diff --git a/api/cosmos/staking/v1beta1/tx_grpc.pb.go b/api/cosmos/staking/v1beta1/tx_grpc.pb.go
index e9361597b88e..ee50ca5ab56b 100644
--- a/api/cosmos/staking/v1beta1/tx_grpc.pb.go
+++ b/api/cosmos/staking/v1beta1/tx_grpc.pb.go
@@ -40,6 +40,10 @@ type MsgClient interface {
 	//
 	// Since: cosmos-sdk 0.46
 	CancelUnbondingDelegation(ctx context.Context, in *MsgCancelUnbondingDelegation, opts ...grpc.CallOption) (*MsgCancelUnbondingDelegationResponse, error)
+	// UpdateParams defines a operation for updating the x/staking module
+	// parameters.
+	// Since: cosmos-sdk 0.47
+	UpdateParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error)
 }
 
 type msgClient struct {
@@ -104,6 +108,15 @@ func (c *msgClient) CancelUnbondingDelegation(ctx context.Context, in *MsgCancel
 	return out, nil
 }
 
+func (c *msgClient) UpdateParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error) {
+	out := new(MsgUpdateParamsResponse)
+	err := c.cc.Invoke(ctx, "/cosmos.staking.v1beta1.Msg/UpdateParams", in, out, opts...)
+	if err != nil {
+		return nil, err
+	}
+	return out, nil
+}
+
 // MsgServer is the server API for Msg service.
 // All implementations must embed UnimplementedMsgServer
 // for forward compatibility
@@ -126,6 +139,10 @@ type MsgServer interface {
 	//
 	// Since: cosmos-sdk 0.46
 	CancelUnbondingDelegation(context.Context, *MsgCancelUnbondingDelegation) (*MsgCancelUnbondingDelegationResponse, error)
+	// UpdateParams defines a operation for updating the x/staking module
+	// parameters.
+	// Since: cosmos-sdk 0.47
+	UpdateParams(context.Context, *MsgUpdateParams) (*MsgUpdateParamsResponse, error)
 	mustEmbedUnimplementedMsgServer()
 }
 
@@ -151,6 +168,9 @@ func (UnimplementedMsgServer) Undelegate(context.Context, *MsgUndelegate) (*MsgU
 func (UnimplementedMsgServer) CancelUnbondingDelegation(context.Context, *MsgCancelUnbondingDelegation) (*MsgCancelUnbondingDelegationResponse, error) {
 	return nil, status.Errorf(codes.Unimplemented, "method CancelUnbondingDelegation not implemented")
 }
+func (UnimplementedMsgServer) UpdateParams(context.Context, *MsgUpdateParams) (*MsgUpdateParamsResponse, error) {
+	return nil, status.Errorf(codes.Unimplemented, "method UpdateParams not implemented")
+}
 func (UnimplementedMsgServer) mustEmbedUnimplementedMsgServer() {}
 
 // UnsafeMsgServer may be embedded to opt out of forward compatibility for this service.
@@ -272,6 +292,24 @@ func _Msg_CancelUnbondingDelegation_Handler(srv interface{}, ctx context.Context
 	return interceptor(ctx, in, info, handler)
 }
 
+func _Msg_UpdateParams_Handler(srv interface{}, ctx context.Context, dec func(interface{}) error, interceptor grpc.UnaryServerInterceptor) (interface{}, error) {
+	in := new(MsgUpdateParams)
+	if err := dec(in); err != nil {
+		return nil, err
+	}
+	if interceptor == nil {
+		return srv.(MsgServer).UpdateParams(ctx, in)
+	}
+	info := &grpc.UnaryServerInfo{
+		Server:     srv,
+		FullMethod: "/cosmos.staking.v1beta1.Msg/UpdateParams",
+	}
+	handler := func(ctx context.Context, req interface{}) (interface{}, error) {
+		return srv.(MsgServer).UpdateParams(ctx, req.(*MsgUpdateParams))
+	}
+	return interceptor(ctx, in, info, handler)
+}
+
 // Msg_ServiceDesc is the grpc.ServiceDesc for Msg service.
 // It's only intended for direct use with grpc.RegisterService,
 // and not to be introspected or modified (even as a copy)
@@ -303,6 +341,10 @@ var Msg_ServiceDesc = grpc.ServiceDesc{
 			MethodName: "CancelUnbondingDelegation",
 			Handler:    _Msg_CancelUnbondingDelegation_Handler,
 		},
+		{
+			MethodName: "UpdateParams",
+			Handler:    _Msg_UpdateParams_Handler,
+		},
 	},
 	Streams:  []grpc.StreamDesc{},
 	Metadata: "cosmos/staking/v1beta1/tx.proto",
diff --git a/proto/cosmos/staking/v1beta1/genesis.proto b/proto/cosmos/staking/v1beta1/genesis.proto
index bf3c298e39a6..6d0177217bd0 100644
--- a/proto/cosmos/staking/v1beta1/genesis.proto
+++ b/proto/cosmos/staking/v1beta1/genesis.proto
@@ -9,7 +9,7 @@ import "cosmos_proto/cosmos.proto";
 
 // GenesisState defines the staking module's genesis state.
 message GenesisState {
-  // params defines all the paramaters of related to deposit.
+  // params defines all the parameters of related to deposit.
   Params params = 1 [(gogoproto.nullable) = false];
 
   // last_total_power tracks the total amounts of bonded tokens recorded during
diff --git a/proto/cosmos/staking/v1beta1/staking.proto b/proto/cosmos/staking/v1beta1/staking.proto
index 6dc965feab47..193ff3c0def4 100644
--- a/proto/cosmos/staking/v1beta1/staking.proto
+++ b/proto/cosmos/staking/v1beta1/staking.proto
@@ -282,7 +282,7 @@ message Redelegation {
   repeated RedelegationEntry entries = 4 [(gogoproto.nullable) = false]; // redelegation entries
 }
 
-// Params defines the parameters for the staking module.
+// Params defines the parameters for the x/staking module.
 message Params {
   option (gogoproto.equal)            = true;
   option (gogoproto.goproto_stringer) = false;
diff --git a/proto/cosmos/staking/v1beta1/tx.proto b/proto/cosmos/staking/v1beta1/tx.proto
index 8226dd309958..dec72dfe87ff 100644
--- a/proto/cosmos/staking/v1beta1/tx.proto
+++ b/proto/cosmos/staking/v1beta1/tx.proto
@@ -38,6 +38,11 @@ service Msg {
   //
   // Since: cosmos-sdk 0.46
   rpc CancelUnbondingDelegation(MsgCancelUnbondingDelegation) returns (MsgCancelUnbondingDelegationResponse);
+
+  // UpdateParams defines an operation for updating the x/staking module
+  // parameters.
+  // Since: cosmos-sdk 0.47
+  rpc UpdateParams(MsgUpdateParams) returns (MsgUpdateParamsResponse);
 }
 
 // MsgCreateValidator defines a SDK message for creating a new validator.
@@ -163,3 +168,23 @@ message MsgCancelUnbondingDelegation {
 //
 // Since: cosmos-sdk 0.46
 message MsgCancelUnbondingDelegationResponse {}
+
+// MsgUpdateParams is the Msg/UpdateParams request type.
+//
+// Since: cosmos-sdk 0.47
+message MsgUpdateParams {
+  option (cosmos.msg.v1.signer) = "authority";
+
+  // authority is the address of the governance account.
+  string authority = 1 [(cosmos_proto.scalar) = "cosmos.AddressString"];
+  // params defines the x/staking parameters to update.
+  //
+  // NOTE: All parameters must be supplied.
+  Params params = 2 [(gogoproto.nullable) = false];
+};
+
+// MsgUpdateParamsResponse defines the response structure for executing a
+// MsgUpdateParams message.
+//
+// Since: cosmos-sdk 0.47
+message MsgUpdateParamsResponse {};
diff --git a/simapp/app_legacy.go b/simapp/app_legacy.go
index 71bb73cc1907..248b9a0e1ff5 100644
--- a/simapp/app_legacy.go
+++ b/simapp/app_legacy.go
@@ -261,7 +261,7 @@ func NewSimApp(
 		appCodec, keys[banktypes.StoreKey], app.AccountKeeper, app.ModuleAccountAddrs(), authtypes.NewModuleAddress(govtypes.ModuleName).String(),
 	)
 	app.StakingKeeper = stakingkeeper.NewKeeper(
-		appCodec, keys[stakingtypes.StoreKey], app.AccountKeeper, app.BankKeeper, app.GetSubspace(stakingtypes.ModuleName),
+		appCodec, keys[stakingtypes.StoreKey], app.AccountKeeper, app.BankKeeper, authtypes.NewModuleAddress(govtypes.ModuleName).String(),
 	)
 	app.MintKeeper = mintkeeper.NewKeeper(appCodec, keys[minttypes.StoreKey], app.StakingKeeper, app.AccountKeeper, app.BankKeeper, authtypes.FeeCollectorName, authtypes.NewModuleAddress(govtypes.ModuleName).String())
 
@@ -361,7 +361,7 @@ func NewSimApp(
 		mint.NewAppModule(appCodec, app.MintKeeper, app.AccountKeeper, nil, app.GetSubspace(minttypes.ModuleName)),
 		slashing.NewAppModule(appCodec, app.SlashingKeeper, app.AccountKeeper, app.BankKeeper, app.StakingKeeper, app.GetSubspace(slashingtypes.ModuleName)),
 		distr.NewAppModule(appCodec, app.DistrKeeper, app.AccountKeeper, app.BankKeeper, app.StakingKeeper, app.GetSubspace(distrtypes.ModuleName)),
-		staking.NewAppModule(appCodec, app.StakingKeeper, app.AccountKeeper, app.BankKeeper),
+		staking.NewAppModule(appCodec, app.StakingKeeper, app.AccountKeeper, app.BankKeeper, app.GetSubspace(stakingtypes.ModuleName)),
 		upgrade.NewAppModule(app.UpgradeKeeper),
 		evidence.NewAppModule(app.EvidenceKeeper),
 		params.NewAppModule(app.ParamsKeeper),
@@ -427,7 +427,7 @@ func NewSimApp(
 		feegrantmodule.NewAppModule(appCodec, app.AccountKeeper, app.BankKeeper, app.FeeGrantKeeper, app.interfaceRegistry),
 		gov.NewAppModule(appCodec, &app.GovKeeper, app.AccountKeeper, app.BankKeeper),
 		mint.NewAppModule(appCodec, app.MintKeeper, app.AccountKeeper, nil, app.GetSubspace(minttypes.ModuleName)),
-		staking.NewAppModule(appCodec, app.StakingKeeper, app.AccountKeeper, app.BankKeeper),
+		staking.NewAppModule(appCodec, app.StakingKeeper, app.AccountKeeper, app.BankKeeper, app.GetSubspace(stakingtypes.ModuleName)),
 		distr.NewAppModule(appCodec, app.DistrKeeper, app.AccountKeeper, app.BankKeeper, app.StakingKeeper, app.GetSubspace(distrtypes.ModuleName)),
 		slashing.NewAppModule(appCodec, app.SlashingKeeper, app.AccountKeeper, app.BankKeeper, app.StakingKeeper, app.GetSubspace(slashingtypes.ModuleName)),
 		params.NewAppModule(app.ParamsKeeper),
diff --git a/x/genutil/migrations/v046/migrate.go b/x/genutil/migrations/v046/migrate.go
index b3fead6961dd..52a73ec03bc7 100644
--- a/x/genutil/migrations/v046/migrate.go
+++ b/x/genutil/migrations/v046/migrate.go
@@ -6,8 +6,8 @@ import (
 	v043gov "github.com/cosmos/cosmos-sdk/x/gov/migrations/v043"
 	v046gov "github.com/cosmos/cosmos-sdk/x/gov/migrations/v046"
 	govv1beta1 "github.com/cosmos/cosmos-sdk/x/gov/types/v1beta1"
-	v043staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v043"
-	v046staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	stakingv2 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v2"
+	stakingv3 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v3"
 	stakingtypes "github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
@@ -32,21 +32,21 @@ func Migrate(appState types.AppMap, clientCtx client.Context) types.AppMap {
 	}
 
 	// Migrate x/staking.
-	if appState[v043staking.ModuleName] != nil {
+	if appState[stakingv2.ModuleName] != nil {
 		// unmarshal relative source genesis application state
 		var old stakingtypes.GenesisState
-		clientCtx.Codec.MustUnmarshalJSON(appState[v043staking.ModuleName], &old)
+		clientCtx.Codec.MustUnmarshalJSON(appState[stakingv2.ModuleName], &old)
 
 		// delete deprecated x/staking genesis state
-		delete(appState, v043staking.ModuleName)
+		delete(appState, stakingv2.ModuleName)
 
 		// Migrate relative source genesis application state and marshal it into
 		// the respective key.
-		new, err := v046staking.MigrateJSON(old)
+		new, err := stakingv3.MigrateJSON(old)
 		if err != nil {
 			panic(err)
 		}
-		appState[v046staking.ModuleName] = clientCtx.Codec.MustMarshalJSON(&new)
+		appState[stakingv3.ModuleName] = clientCtx.Codec.MustMarshalJSON(&new)
 	}
 
 	return appState
diff --git a/x/gov/keeper/common_test.go b/x/gov/keeper/common_test.go
index dab42b637cb0..ab7e23d2d301 100644
--- a/x/gov/keeper/common_test.go
+++ b/x/gov/keeper/common_test.go
@@ -48,7 +48,7 @@ func createValidators(t *testing.T, ctx sdk.Context, app *simapp.SimApp, powers
 		app.GetKey(stakingtypes.StoreKey),
 		app.AccountKeeper,
 		app.BankKeeper,
-		app.GetSubspace(stakingtypes.ModuleName),
+		authtypes.NewModuleAddress(types.ModuleName).String(),
 	)
 
 	val1, err := stakingtypes.NewValidator(valAddrs[0], pks[0], stakingtypes.Description{})
diff --git a/x/params/client/testutil/grpc.go b/x/params/client/testutil/grpc.go
index 59725fba94fc..502b35fd1d35 100644
--- a/x/params/client/testutil/grpc.go
+++ b/x/params/client/testutil/grpc.go
@@ -27,53 +27,40 @@ func (s *IntegrationTestSuite) TestQueryParamsGRPC() {
 			map[string]string{},
 			true,
 			&proposal.QueryParamsResponse{},
-			&proposal.QueryParamsResponse{
-				Param: proposal.ParamChange{
-					Subspace: "staking",
-					Key:      "MaxValidators",
-					Value:    "100",
-				},
-			},
+			nil,
 		},
 		{
 			"with wrong subspace",
-			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, "wrongSubspace", "MaxValidators"),
+			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, "wrongSubspace", "foo"),
 			map[string]string{},
 			true,
 			&proposal.QueryParamsResponse{},
-			&proposal.QueryParamsResponse{
-				Param: proposal.ParamChange{
-					Subspace: "staking",
-					Key:      "MaxValidators",
-					Value:    "100",
-				},
-			},
+			nil,
 		},
 		{
 			"with wrong key",
-			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, "staking", "wrongKey"),
+			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, mySubspace, "wrongKey"),
 			map[string]string{},
 			false,
 			&proposal.QueryParamsResponse{},
 			&proposal.QueryParamsResponse{
 				Param: proposal.ParamChange{
-					Subspace: "staking",
+					Subspace: mySubspace,
 					Key:      "wrongKey",
-					Value:    "",
 				},
 			},
 		},
 		{
 			"params",
-			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, "staking", "MaxValidators"),
+			fmt.Sprintf("%s/cosmos/params/v1beta1/params?subspace=%s&key=%s", baseURL, mySubspace, "bar"),
 			map[string]string{},
 			false,
 			&proposal.QueryParamsResponse{},
 			&proposal.QueryParamsResponse{
 				Param: proposal.ParamChange{
-					Subspace: "staking",
-					Key:      "MaxValidators",
-					Value:    "100",
+					Subspace: mySubspace,
+					Key:      "bar",
+					Value:    `"1234"`,
 				},
 			},
 		},
diff --git a/x/params/client/testutil/suite.go b/x/params/client/testutil/suite.go
index c38d93b9b66e..1318cfbd8630 100644
--- a/x/params/client/testutil/suite.go
+++ b/x/params/client/testutil/suite.go
@@ -5,13 +5,40 @@ import (
 	"strings"
 
 	"github.com/stretchr/testify/suite"
+	abci "github.com/tendermint/tendermint/abci/types"
 	tmcli "github.com/tendermint/tendermint/libs/cli"
+	dbm "github.com/tendermint/tm-db"
 
+	"cosmossdk.io/depinject"
+	"github.com/cosmos/cosmos-sdk/baseapp"
+	pruningtypes "github.com/cosmos/cosmos-sdk/pruning/types"
+	"github.com/cosmos/cosmos-sdk/runtime"
+	servertypes "github.com/cosmos/cosmos-sdk/server/types"
 	clitestutil "github.com/cosmos/cosmos-sdk/testutil/cli"
 	"github.com/cosmos/cosmos-sdk/testutil/network"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	moduletestutil "github.com/cosmos/cosmos-sdk/types/module/testutil"
 	"github.com/cosmos/cosmos-sdk/x/params/client/cli"
+	"github.com/cosmos/cosmos-sdk/x/params/keeper"
+	"github.com/cosmos/cosmos-sdk/x/params/testutil"
+	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
 )
 
+// mySubspace is a x/params subspace created for the purpose of this
+// test suite.
+const (
+	mySubspace = "foo"
+)
+
+// myParams defines some params in the `mySubspace` subspace.
+type myParams struct{}
+
+func (p *myParams) ParamSetPairs() paramtypes.ParamSetPairs {
+	return paramtypes.ParamSetPairs{
+		paramtypes.NewParamSetPair([]byte("bar"), 1234, func(value interface{}) error { return nil }),
+	}
+}
+
 type IntegrationTestSuite struct {
 	suite.Suite
 
@@ -26,6 +53,44 @@ func NewIntegrationTestSuite(cfg network.Config) *IntegrationTestSuite {
 func (s *IntegrationTestSuite) SetupSuite() {
 	s.T().Log("setting up integration test suite")
 
+	// Create a new AppConstructor for this test suite, where we manually
+	// add a subspace and `myParams` to the x/params store.
+	s.cfg.AppConstructor = func(val moduletestutil.Validator) servertypes.Application {
+		var (
+			appBuilder   *runtime.AppBuilder
+			paramsKeeper keeper.Keeper
+		)
+		if err := depinject.Inject(testutil.AppConfig, &appBuilder, &paramsKeeper); err != nil {
+			panic(err)
+		}
+
+		// Add this test's `myParams` to the x/params store.
+		paramSet := myParams{}
+		subspace := paramsKeeper.Subspace(mySubspace).WithKeyTable(paramtypes.NewKeyTable().RegisterParamSet(&paramSet))
+
+		app := appBuilder.Build(
+			val.GetCtx().Logger,
+			dbm.NewMemDB(),
+			nil,
+			baseapp.SetPruning(pruningtypes.NewPruningOptionsFromString(val.GetAppConfig().Pruning)),
+			baseapp.SetMinGasPrices(val.GetAppConfig().MinGasPrices),
+		)
+
+		s.Require().NoError(app.Load(false))
+
+		// Make sure not to forget to persist `myParams` into the actual store,
+		// this is done in InitChain.
+		app.SetInitChainer(func(ctx sdk.Context, req abci.RequestInitChain) abci.ResponseInitChain {
+			subspace.SetParamSet(ctx, &paramSet)
+
+			return app.InitChainer(ctx, req)
+		})
+
+		s.Require().NoError(app.LoadLatestVersion())
+
+		return app
+	}
+
 	var err error
 	s.network, err = network.New(s.T(), s.T().TempDir(), s.cfg)
 	s.Require().NoError(err)
@@ -50,20 +115,20 @@ func (s *IntegrationTestSuite) TestNewQuerySubspaceParamsCmd() {
 		{
 			"json output",
 			[]string{
-				"staking", "MaxValidators",
+				"foo", "bar",
 				fmt.Sprintf("--%s=json", tmcli.OutputFlag),
 			},
-			`{"subspace":"staking","key":"MaxValidators","value":"100"}`,
+			`{"subspace":"foo","key":"bar","value":"\"1234\""}`,
 		},
 		{
 			"text output",
 			[]string{
-				"staking", "MaxValidators",
+				"foo", "bar",
 				fmt.Sprintf("--%s=text", tmcli.OutputFlag),
 			},
-			`key: MaxValidators
-subspace: staking
-value: "100"`,
+			`key: bar
+subspace: foo
+value: '"1234"'`,
 		},
 	}
 
diff --git a/x/params/proposal_handler_test.go b/x/params/proposal_handler_test.go
index 3d9a6b6a1dd5..d7c3ff391c08 100644
--- a/x/params/proposal_handler_test.go
+++ b/x/params/proposal_handler_test.go
@@ -1,6 +1,7 @@
 package params_test
 
 import (
+	stakingtypes "github.com/cosmos/cosmos-sdk/x/staking/types"
 	"testing"
 
 	"github.com/golang/mock/gomock"
@@ -15,7 +16,6 @@ import (
 	paramstestutil "github.com/cosmos/cosmos-sdk/x/params/testutil"
 	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
 	"github.com/cosmos/cosmos-sdk/x/params/types/proposal"
-	stakingtypes "github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
 // StakingKeeper defines the expected staking keeper
@@ -78,23 +78,23 @@ func (suite *HandlerTestSuite) TestProposalHandler() {
 			func() {},
 			true,
 		},
-		// {
-		// 	"omit empty fields",
-		// 	testProposal(proposal.ParamChange{
-		// 		Subspace: govtypes.ModuleName,
-		// 		Key:      string(govv1.ParamStoreKeyDepositParams),
-		// 		Value:    `{"min_deposit": [{"denom": "uatom","amount": "64000000"}], "max_deposit_period": "172800000000000"}`,
-		// 	}),
-		// 	func() {
-		// 		depositParams := suite.app.GovKeeper.GetDepositParams(suite.ctx)
-		// 		defaultPeriod := govv1.DefaultPeriod
-		// 		suite.Require().Equal(govv1.DepositParams{
-		// 			MinDeposit:       sdk.NewCoins(sdk.NewCoin("uatom", sdk.NewInt(64000000))),
-		// 			MaxDepositPeriod: &defaultPeriod,
-		// 		}, depositParams)
-		// 	},
-		// 	false,
-		// },
+		//{
+		//	"omit empty fields",
+		//	testProposal(proposal.ParamChange{
+		//		Subspace: govtypes.ModuleName,
+		//		Key:      string(govv1.ParamStoreKeyDepositParams),
+		//		Value:    `{"min_deposit": [{"denom": "uatom","amount": "64000000"}], "max_deposit_period": "172800000000000"}`,
+		//	}),
+		//	func() {
+		//		depositParams := suite.app.GovKeeper.GetDepositParams(suite.ctx)
+		//		defaultPeriod := govv1.DefaultPeriod
+		//		suite.Require().Equal(govv1.DepositParams{
+		//			MinDeposit:       sdk.NewCoins(sdk.NewCoin("uatom", sdk.NewInt(64000000))),
+		//			MaxDepositPeriod: &defaultPeriod,
+		//		}, depositParams)
+		//	},
+		//	false,
+		//},
 	}
 
 	for _, tc := range testCases {
diff --git a/x/staking/common_test.go b/x/staking/common_test.go
index 4e0fece688e4..bfd50af422cf 100644
--- a/x/staking/common_test.go
+++ b/x/staking/common_test.go
@@ -1,6 +1,8 @@
 package staking_test
 
 import (
+	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	"math/big"
 	"testing"
 
@@ -48,7 +50,7 @@ func getBaseSimappWithCustomKeeper(t *testing.T) (*codec.LegacyAmino, *simapp.Si
 		app.GetKey(types.StoreKey),
 		app.AccountKeeper,
 		app.BankKeeper,
-		app.GetSubspace(types.ModuleName),
+		authtypes.NewModuleAddress(govtypes.ModuleName).String(),
 	)
 	app.StakingKeeper.SetParams(ctx, types.DefaultParams())
 
diff --git a/x/staking/exported/exported.go b/x/staking/exported/exported.go
new file mode 100644
index 000000000000..2d0c2fd1c391
--- /dev/null
+++ b/x/staking/exported/exported.go
@@ -0,0 +1,16 @@
+package exported
+
+import (
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+)
+
+type (
+	// Subspace defines an interface that implements the legacy x/params Subspace
+	// type.
+	//
+	// NOTE: This is used solely for migration of x/params managed parameters.
+	Subspace interface {
+		GetParamSet(ctx sdk.Context, ps paramtypes.ParamSet)
+	}
+)
diff --git a/x/staking/keeper/common_test.go b/x/staking/keeper/common_test.go
index 1efd4340bef5..ff11199d39f2 100644
--- a/x/staking/keeper/common_test.go
+++ b/x/staking/keeper/common_test.go
@@ -1,6 +1,8 @@
 package keeper_test
 
 import (
+	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	"math/big"
 	"testing"
 
@@ -31,7 +33,7 @@ func createTestInput(t *testing.T) (*codec.LegacyAmino, *simapp.SimApp, sdk.Cont
 		app.GetKey(types.StoreKey),
 		app.AccountKeeper,
 		app.BankKeeper,
-		app.GetSubspace(types.ModuleName),
+		authtypes.NewModuleAddress(govtypes.ModuleName).String(),
 	)
 	return app.LegacyAmino(), app, ctx
 }
diff --git a/x/staking/keeper/genesis.go b/x/staking/keeper/genesis.go
index b47e32de1b3e..7a8a374374d0 100644
--- a/x/staking/keeper/genesis.go
+++ b/x/staking/keeper/genesis.go
@@ -106,6 +106,7 @@ func (k Keeper) InitGenesis(ctx sdk.Context, data *types.GenesisState) (res []ab
 	}
 
 	// TODO: remove with genesis 2-phases refactor https://github.com/cosmos/cosmos-sdk/issues/2862
+
 	bondedBalance := k.bankKeeper.GetAllBalances(ctx, bondedPool.GetAddress())
 	if bondedBalance.IsZero() {
 		k.authKeeper.SetModuleAccount(ctx, bondedPool)
diff --git a/x/staking/keeper/grpc_query_test.go b/x/staking/keeper/grpc_query_test.go
index baba0dbc9eef..c746d0991693 100644
--- a/x/staking/keeper/grpc_query_test.go
+++ b/x/staking/keeper/grpc_query_test.go
@@ -3,6 +3,8 @@ package keeper_test
 import (
 	gocontext "context"
 	"fmt"
+	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	"testing"
 
 	"github.com/stretchr/testify/require"
@@ -796,7 +798,7 @@ func createValidators(t *testing.T, ctx sdk.Context, app *simapp.SimApp, powers
 		app.GetKey(types.StoreKey),
 		app.AccountKeeper,
 		app.BankKeeper,
-		app.GetSubspace(types.ModuleName),
+		authtypes.NewModuleAddress(govtypes.ModuleName).String(),
 	)
 
 	val1 := teststaking.NewValidator(t, valAddrs[0], pks[0])
diff --git a/x/staking/keeper/keeper.go b/x/staking/keeper/keeper.go
index 296c9f3d5034..e37772c0165b 100644
--- a/x/staking/keeper/keeper.go
+++ b/x/staking/keeper/keeper.go
@@ -1,16 +1,14 @@
 package keeper
 
 import (
-	"fmt"
-
 	"cosmossdk.io/math"
+	"fmt"
 
 	storetypes "github.com/cosmos/cosmos-sdk/store/types"
 	"github.com/tendermint/tendermint/libs/log"
 
 	"github.com/cosmos/cosmos-sdk/codec"
 	sdk "github.com/cosmos/cosmos-sdk/types"
-	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
@@ -20,26 +18,24 @@ var _ types.ValidatorSet = Keeper{}
 // Implements DelegationSet interface
 var _ types.DelegationSet = Keeper{}
 
-// keeper of the staking store
+// Keeper of the x/staking store
 type Keeper struct {
 	storeKey   storetypes.StoreKey
 	cdc        codec.BinaryCodec
 	authKeeper types.AccountKeeper
 	bankKeeper types.BankKeeper
 	hooks      types.StakingHooks
-	paramstore paramtypes.Subspace
+	authority  string
 }
 
 // NewKeeper creates a new staking Keeper instance
 func NewKeeper(
-	cdc codec.BinaryCodec, key storetypes.StoreKey, ak types.AccountKeeper, bk types.BankKeeper,
-	ps paramtypes.Subspace,
+	cdc codec.BinaryCodec,
+	key storetypes.StoreKey,
+	ak types.AccountKeeper,
+	bk types.BankKeeper,
+	authority string,
 ) *Keeper {
-	// set KeyTable if it has not already been set
-	if !ps.HasKeyTable() {
-		ps = ps.WithKeyTable(types.ParamKeyTable())
-	}
-
 	// ensure bonded and not bonded module accounts are set
 	if addr := ak.GetModuleAddress(types.BondedPoolName); addr == nil {
 		panic(fmt.Sprintf("%s module account has not been set", types.BondedPoolName))
@@ -49,13 +45,18 @@ func NewKeeper(
 		panic(fmt.Sprintf("%s module account has not been set", types.NotBondedPoolName))
 	}
 
+	// ensure that authority is a valid AccAddress
+	if _, err := sdk.AccAddressFromBech32(authority); err != nil {
+		panic(fmt.Sprintf("authority is not a valid acc address"))
+	}
+
 	return &Keeper{
 		storeKey:   key,
 		cdc:        cdc,
 		authKeeper: ak,
 		bankKeeper: bk,
-		paramstore: ps,
 		hooks:      nil,
+		authority:  authority,
 	}
 }
 
@@ -64,7 +65,7 @@ func (k Keeper) Logger(ctx sdk.Context) log.Logger {
 	return ctx.Logger().With("module", "x/"+types.ModuleName)
 }
 
-// Set the validator hooks
+// SetHooks Set the validator hooks
 func (k *Keeper) SetHooks(sh types.StakingHooks) {
 	if k.hooks != nil {
 		panic("cannot set validator hooks twice")
@@ -73,7 +74,7 @@ func (k *Keeper) SetHooks(sh types.StakingHooks) {
 	k.hooks = sh
 }
 
-// Load the last total validator power.
+// GetLastTotalPower Load the last total validator power.
 func (k Keeper) GetLastTotalPower(ctx sdk.Context) math.Int {
 	store := ctx.KVStore(k.storeKey)
 	bz := store.Get(types.LastTotalPowerKey)
@@ -88,9 +89,14 @@ func (k Keeper) GetLastTotalPower(ctx sdk.Context) math.Int {
 	return ip.Int
 }
 
-// Set the last total validator power.
+// SetLastTotalPower Set the last total validator power.
 func (k Keeper) SetLastTotalPower(ctx sdk.Context, power math.Int) {
 	store := ctx.KVStore(k.storeKey)
 	bz := k.cdc.MustMarshal(&sdk.IntProto{Int: power})
 	store.Set(types.LastTotalPowerKey, bz)
 }
+
+// GetAuthority returns the x/staking module's authority.
+func (k Keeper) GetAuthority() string {
+	return k.authority
+}
diff --git a/x/staking/keeper/migrations.go b/x/staking/keeper/migrations.go
index 9b6b5f51249b..5e2ff5401d16 100644
--- a/x/staking/keeper/migrations.go
+++ b/x/staking/keeper/migrations.go
@@ -2,28 +2,37 @@ package keeper
 
 import (
 	sdk "github.com/cosmos/cosmos-sdk/types"
-	v043 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v043"
-	v046 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	"github.com/cosmos/cosmos-sdk/x/staking/exported"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v2"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v3"
+	v4 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v4"
 )
 
 // Migrator is a struct for handling in-place store migrations.
 type Migrator struct {
-	keeper *Keeper
+	keeper         *Keeper
+	legacySubspace exported.Subspace
 }
 
 // NewMigrator returns a new Migrator.
-func NewMigrator(keeper *Keeper) Migrator {
+func NewMigrator(keeper *Keeper, legacySubspace exported.Subspace) Migrator {
 	return Migrator{
-		keeper: keeper,
+		keeper:         keeper,
+		legacySubspace: legacySubspace,
 	}
 }
 
 // Migrate1to2 migrates from version 1 to 2.
 func (m Migrator) Migrate1to2(ctx sdk.Context) error {
-	return v043.MigrateStore(ctx, m.keeper.storeKey)
+	return v2.MigrateStore(ctx, m.keeper.storeKey)
 }
 
 // Migrate2to3 migrates x/staking state from consensus version 2 to 3.
 func (m Migrator) Migrate2to3(ctx sdk.Context) error {
-	return v046.MigrateStore(ctx, m.keeper.storeKey, m.keeper.cdc, m.keeper.paramstore)
+	return v3.MigrateStore(ctx, m.keeper.storeKey, m.keeper.cdc, m.legacySubspace)
+}
+
+// Migrate3to4 migrates x/staking state from consensus version 3 to 4.
+func (m Migrator) Migrate3to4(ctx sdk.Context) error {
+	return v4.MigrateStore(ctx, m.keeper.storeKey, m.keeper.cdc, m.legacySubspace)
 }
diff --git a/x/staking/keeper/msg_server.go b/x/staking/keeper/msg_server.go
index cdc2f46f8a64..c5d609cf3db0 100644
--- a/x/staking/keeper/msg_server.go
+++ b/x/staking/keeper/msg_server.go
@@ -2,6 +2,7 @@ package keeper
 
 import (
 	"context"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	"strconv"
 	"time"
 
@@ -499,3 +500,18 @@ func (k msgServer) CancelUnbondingDelegation(goCtx context.Context, msg *types.M
 
 	return &types.MsgCancelUnbondingDelegationResponse{}, nil
 }
+
+func (ms msgServer) UpdateParams(goCtx context.Context, msg *types.MsgUpdateParams) (*types.MsgUpdateParamsResponse, error) {
+	ctx := sdk.UnwrapSDKContext(goCtx)
+
+	if ms.authority != msg.Authority {
+		return nil, sdkerrors.Wrapf(govtypes.ErrInvalidSigner, "invalid authority; expected %s, got %s", ms.authority, msg.Authority)
+	}
+
+	// store params
+	if err := ms.SetParams(ctx, msg.Params); err != nil {
+		return nil, err
+	}
+
+	return &types.MsgUpdateParamsResponse{}, nil
+}
diff --git a/x/staking/keeper/msg_server_test.go b/x/staking/keeper/msg_server_test.go
index 44538be4d4ae..f21409e2f450 100644
--- a/x/staking/keeper/msg_server_test.go
+++ b/x/staking/keeper/msg_server_test.go
@@ -144,3 +144,127 @@ func TestCancelUnbondingDelegation(t *testing.T) {
 		})
 	}
 }
+
+func TestMsgUpdateParams(t *testing.T) {
+	app := simapp.Setup(t, false)
+	ctx := app.BaseApp.NewContext(false, tmproto.Header{})
+	msgServer := keeper.NewMsgServerImpl(app.StakingKeeper)
+
+	testCases := []struct {
+		name      string
+		input     *types.MsgUpdateParams
+		expErr    bool
+		expErrMsg string
+	}{
+		{
+			name: "valid params",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params:    types.DefaultParams(),
+			},
+			expErr: false,
+		},
+		{
+			name: "invalid authority",
+			input: &types.MsgUpdateParams{
+				Authority: "invalid",
+				Params:    types.DefaultParams(),
+			},
+			expErr:    true,
+			expErrMsg: "invalid authority",
+		},
+		{
+			name: "negative commission rate",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params: types.Params{
+					MinCommissionRate: sdk.NewDec(-10),
+					UnbondingTime:     types.DefaultUnbondingTime,
+					MaxValidators:     types.DefaultMaxValidators,
+					MaxEntries:        types.DefaultMaxEntries,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					BondDenom:         types.BondStatusBonded,
+				},
+			},
+			expErr:    true,
+			expErrMsg: "minimum commission rate cannot be negative",
+		},
+		{
+			name: "commission rate cannot be bigger than 100",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params: types.Params{
+					MinCommissionRate: sdk.NewDec(2),
+					UnbondingTime:     types.DefaultUnbondingTime,
+					MaxValidators:     types.DefaultMaxValidators,
+					MaxEntries:        types.DefaultMaxEntries,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					BondDenom:         types.BondStatusBonded,
+				},
+			},
+			expErr:    true,
+			expErrMsg: "minimum commission rate cannot be greater than 100%",
+		},
+		{
+			name: "invalid bond denom",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params: types.Params{
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					UnbondingTime:     types.DefaultUnbondingTime,
+					MaxValidators:     types.DefaultMaxValidators,
+					MaxEntries:        types.DefaultMaxEntries,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					BondDenom:         "",
+				},
+			},
+			expErr:    true,
+			expErrMsg: "bond denom cannot be blank",
+		},
+		{
+			name: "max validators most be positive",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params: types.Params{
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					UnbondingTime:     types.DefaultUnbondingTime,
+					MaxValidators:     0,
+					MaxEntries:        types.DefaultMaxEntries,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					BondDenom:         types.BondStatusBonded,
+				},
+			},
+			expErr:    true,
+			expErrMsg: "max validators must be positive",
+		},
+		{
+			name: "max entries most be positive",
+			input: &types.MsgUpdateParams{
+				Authority: app.StakingKeeper.GetAuthority(),
+				Params: types.Params{
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					UnbondingTime:     types.DefaultUnbondingTime,
+					MaxValidators:     types.DefaultMaxValidators,
+					MaxEntries:        0,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					BondDenom:         types.BondStatusBonded,
+				},
+			},
+			expErr:    true,
+			expErrMsg: "max entries must be positive",
+		},
+	}
+
+	for _, tc := range testCases {
+		tc := tc
+		t.Run(tc.name, func(t *testing.T) {
+			_, err := msgServer.UpdateParams(ctx, tc.input)
+			if tc.expErr {
+				require.Error(t, err)
+				require.Contains(t, err.Error(), tc.expErrMsg)
+			} else {
+				require.NoError(t, err)
+			}
+		})
+	}
+}
diff --git a/x/staking/keeper/params.go b/x/staking/keeper/params.go
index 7e816f353143..adce32ac7dc2 100644
--- a/x/staking/keeper/params.go
+++ b/x/staking/keeper/params.go
@@ -10,35 +10,30 @@ import (
 )
 
 // UnbondingTime
-func (k Keeper) UnbondingTime(ctx sdk.Context) (res time.Duration) {
-	k.paramstore.Get(ctx, types.KeyUnbondingTime, &res)
-	return
+func (k Keeper) UnbondingTime(ctx sdk.Context) time.Duration {
+	return k.GetParams(ctx).UnbondingTime
 }
 
 // MaxValidators - Maximum number of validators
-func (k Keeper) MaxValidators(ctx sdk.Context) (res uint32) {
-	k.paramstore.Get(ctx, types.KeyMaxValidators, &res)
-	return
+func (k Keeper) MaxValidators(ctx sdk.Context) uint32 {
+	return k.GetParams(ctx).MaxValidators
 }
 
 // MaxEntries - Maximum number of simultaneous unbonding
 // delegations or redelegations (per pair/trio)
-func (k Keeper) MaxEntries(ctx sdk.Context) (res uint32) {
-	k.paramstore.Get(ctx, types.KeyMaxEntries, &res)
-	return
+func (k Keeper) MaxEntries(ctx sdk.Context) uint32 {
+	return k.GetParams(ctx).MaxEntries
 }
 
 // HistoricalEntries = number of historical info entries
 // to persist in store
 func (k Keeper) HistoricalEntries(ctx sdk.Context) (res uint32) {
-	k.paramstore.Get(ctx, types.KeyHistoricalEntries, &res)
-	return
+	return k.GetParams(ctx).HistoricalEntries
 }
 
 // BondDenom - Bondable coin denomination
 func (k Keeper) BondDenom(ctx sdk.Context) (res string) {
-	k.paramstore.Get(ctx, types.KeyBondDenom, &res)
-	return
+	return k.GetParams(ctx).BondDenom
 }
 
 // PowerReduction - is the amount of staking tokens required for 1 unit of consensus-engine power.
@@ -50,24 +45,34 @@ func (k Keeper) PowerReduction(ctx sdk.Context) math.Int {
 }
 
 // MinCommissionRate - Minimum validator commission rate
-func (k Keeper) MinCommissionRate(ctx sdk.Context) (res sdk.Dec) {
-	k.paramstore.Get(ctx, types.KeyMinCommissionRate, &res)
-	return
+func (k Keeper) MinCommissionRate(ctx sdk.Context) sdk.Dec {
+	return k.GetParams(ctx).MinCommissionRate
 }
 
-// Get all parameters as types.Params
-func (k Keeper) GetParams(ctx sdk.Context) types.Params {
-	return types.NewParams(
-		k.UnbondingTime(ctx),
-		k.MaxValidators(ctx),
-		k.MaxEntries(ctx),
-		k.HistoricalEntries(ctx),
-		k.BondDenom(ctx),
-		k.MinCommissionRate(ctx),
-	)
+// SetParams sets the x/staking module parameters.
+func (k Keeper) SetParams(ctx sdk.Context, params types.Params) error {
+	if err := params.Validate(); err != nil {
+		return err
+	}
+
+	store := ctx.KVStore(k.storeKey)
+	bz, err := k.cdc.Marshal(&params)
+	if err != nil {
+		return err
+	}
+	store.Set(types.ParamsKey, bz)
+
+	return nil
 }
 
-// set the params
-func (k Keeper) SetParams(ctx sdk.Context, params types.Params) {
-	k.paramstore.SetParamSet(ctx, &params)
+// GetParams sets the x/staking module parameters.
+func (k Keeper) GetParams(ctx sdk.Context) (params types.Params) {
+	store := ctx.KVStore(k.storeKey)
+	bz := store.Get(types.ParamsKey)
+	if bz == nil {
+		return params
+	}
+
+	k.cdc.MustUnmarshal(bz, &params)
+	return params
 }
diff --git a/x/staking/migrations/v042/types.go b/x/staking/migrations/v1/types.go
similarity index 99%
rename from x/staking/migrations/v042/types.go
rename to x/staking/migrations/v1/types.go
index 097c9ca8bc14..3800d997afb5 100644
--- a/x/staking/migrations/v042/types.go
+++ b/x/staking/migrations/v1/types.go
@@ -1,4 +1,4 @@
-package v042
+package v1
 
 import (
 	"bytes"
diff --git a/x/staking/migrations/v043/keys.go b/x/staking/migrations/v2/keys.go
similarity index 85%
rename from x/staking/migrations/v043/keys.go
rename to x/staking/migrations/v2/keys.go
index bca943d8aec8..439a823206a1 100644
--- a/x/staking/migrations/v043/keys.go
+++ b/x/staking/migrations/v2/keys.go
@@ -1,4 +1,4 @@
-package v043
+package v2
 
 const (
 	// ModuleName is the name of the module
diff --git a/x/staking/migrations/v043/store.go b/x/staking/migrations/v2/store.go
similarity index 72%
rename from x/staking/migrations/v043/store.go
rename to x/staking/migrations/v2/store.go
index 620d9b6a1a07..1691b676d393 100644
--- a/x/staking/migrations/v043/store.go
+++ b/x/staking/migrations/v2/store.go
@@ -1,4 +1,4 @@
-package v043
+package v2
 
 import (
 	"github.com/cosmos/cosmos-sdk/store/prefix"
@@ -7,7 +7,7 @@ import (
 	"github.com/cosmos/cosmos-sdk/types/address"
 	v042auth "github.com/cosmos/cosmos-sdk/x/auth/migrations/v042"
 	v043distribution "github.com/cosmos/cosmos-sdk/x/distribution/migrations/v043"
-	v040staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v042"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v1"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
@@ -39,7 +39,7 @@ func migratePrefixAddressAddressAddress(store sdk.KVStore, prefixBz []byte) {
 const powerBytesLen = 8
 
 func migrateValidatorsByPowerIndexKey(store sdk.KVStore) {
-	oldStore := prefix.NewStore(store, v040staking.ValidatorsByPowerIndexKey)
+	oldStore := prefix.NewStore(store, v1.ValidatorsByPowerIndexKey)
 
 	oldStoreIter := oldStore.Iterator(nil, nil)
 	defer oldStoreIter.Close()
@@ -62,18 +62,18 @@ func migrateValidatorsByPowerIndexKey(store sdk.KVStore) {
 func MigrateStore(ctx sdk.Context, storeKey storetypes.StoreKey) error {
 	store := ctx.KVStore(storeKey)
 
-	v043distribution.MigratePrefixAddress(store, v040staking.LastValidatorPowerKey)
+	v043distribution.MigratePrefixAddress(store, v1.LastValidatorPowerKey)
 
-	v043distribution.MigratePrefixAddress(store, v040staking.ValidatorsKey)
-	v043distribution.MigratePrefixAddress(store, v040staking.ValidatorsByConsAddrKey)
+	v043distribution.MigratePrefixAddress(store, v1.ValidatorsKey)
+	v043distribution.MigratePrefixAddress(store, v1.ValidatorsByConsAddrKey)
 	migrateValidatorsByPowerIndexKey(store)
 
-	v043distribution.MigratePrefixAddressAddress(store, v040staking.DelegationKey)
-	v043distribution.MigratePrefixAddressAddress(store, v040staking.UnbondingDelegationKey)
-	v043distribution.MigratePrefixAddressAddress(store, v040staking.UnbondingDelegationByValIndexKey)
-	migratePrefixAddressAddressAddress(store, v040staking.RedelegationKey)
-	migratePrefixAddressAddressAddress(store, v040staking.RedelegationByValSrcIndexKey)
-	migratePrefixAddressAddressAddress(store, v040staking.RedelegationByValDstIndexKey)
+	v043distribution.MigratePrefixAddressAddress(store, v1.DelegationKey)
+	v043distribution.MigratePrefixAddressAddress(store, v1.UnbondingDelegationKey)
+	v043distribution.MigratePrefixAddressAddress(store, v1.UnbondingDelegationByValIndexKey)
+	migratePrefixAddressAddressAddress(store, v1.RedelegationKey)
+	migratePrefixAddressAddressAddress(store, v1.RedelegationByValSrcIndexKey)
+	migratePrefixAddressAddressAddress(store, v1.RedelegationByValDstIndexKey)
 
 	return nil
 }
diff --git a/x/staking/migrations/v043/store_test.go b/x/staking/migrations/v2/store_test.go
similarity index 74%
rename from x/staking/migrations/v043/store_test.go
rename to x/staking/migrations/v2/store_test.go
index 920ff55067de..488b8343f807 100644
--- a/x/staking/migrations/v043/store_test.go
+++ b/x/staking/migrations/v2/store_test.go
@@ -1,4 +1,4 @@
-package v043_test
+package v2_test
 
 import (
 	"bytes"
@@ -10,8 +10,8 @@ import (
 	"github.com/cosmos/cosmos-sdk/testutil"
 	"github.com/cosmos/cosmos-sdk/testutil/testdata"
 	sdk "github.com/cosmos/cosmos-sdk/types"
-	v042staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v042"
-	v043staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v043"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v1"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v2"
 	"github.com/cosmos/cosmos-sdk/x/staking/teststaking"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
@@ -41,77 +41,77 @@ func TestStoreMigration(t *testing.T) {
 	}{
 		{
 			"LastValidatorPowerKey",
-			v042staking.GetLastValidatorPowerKey(valAddr1),
+			v1.GetLastValidatorPowerKey(valAddr1),
 			types.GetLastValidatorPowerKey(valAddr1),
 		},
 		{
 			"LastTotalPowerKey",
-			v042staking.LastTotalPowerKey,
+			v1.LastTotalPowerKey,
 			types.LastTotalPowerKey,
 		},
 		{
 			"ValidatorsKey",
-			v042staking.GetValidatorKey(valAddr1),
+			v1.GetValidatorKey(valAddr1),
 			types.GetValidatorKey(valAddr1),
 		},
 		{
 			"ValidatorsByConsAddrKey",
-			v042staking.GetValidatorByConsAddrKey(consAddr),
+			v1.GetValidatorByConsAddrKey(consAddr),
 			types.GetValidatorByConsAddrKey(consAddr),
 		},
 		{
 			"ValidatorsByPowerIndexKey",
-			v042staking.GetValidatorsByPowerIndexKey(val),
+			v1.GetValidatorsByPowerIndexKey(val),
 			types.GetValidatorsByPowerIndexKey(val, sdk.DefaultPowerReduction),
 		},
 		{
 			"DelegationKey",
-			v042staking.GetDelegationKey(addr4, valAddr1),
+			v1.GetDelegationKey(addr4, valAddr1),
 			types.GetDelegationKey(addr4, valAddr1),
 		},
 		{
 			"UnbondingDelegationKey",
-			v042staking.GetUBDKey(addr4, valAddr1),
+			v1.GetUBDKey(addr4, valAddr1),
 			types.GetUBDKey(addr4, valAddr1),
 		},
 		{
 			"UnbondingDelegationByValIndexKey",
-			v042staking.GetUBDByValIndexKey(addr4, valAddr1),
+			v1.GetUBDByValIndexKey(addr4, valAddr1),
 			types.GetUBDByValIndexKey(addr4, valAddr1),
 		},
 		{
 			"RedelegationKey",
-			v042staking.GetREDKey(addr4, valAddr1, valAddr2),
+			v1.GetREDKey(addr4, valAddr1, valAddr2),
 			types.GetREDKey(addr4, valAddr1, valAddr2),
 		},
 		{
 			"RedelegationByValSrcIndexKey",
-			v042staking.GetREDByValSrcIndexKey(addr4, valAddr1, valAddr2),
+			v1.GetREDByValSrcIndexKey(addr4, valAddr1, valAddr2),
 			types.GetREDByValSrcIndexKey(addr4, valAddr1, valAddr2),
 		},
 		{
 			"RedelegationByValDstIndexKey",
-			v042staking.GetREDByValDstIndexKey(addr4, valAddr1, valAddr2),
+			v1.GetREDByValDstIndexKey(addr4, valAddr1, valAddr2),
 			types.GetREDByValDstIndexKey(addr4, valAddr1, valAddr2),
 		},
 		{
 			"UnbondingQueueKey",
-			v042staking.GetUnbondingDelegationTimeKey(now),
+			v1.GetUnbondingDelegationTimeKey(now),
 			types.GetUnbondingDelegationTimeKey(now),
 		},
 		{
 			"RedelegationQueueKey",
-			v042staking.GetRedelegationTimeKey(now),
+			v1.GetRedelegationTimeKey(now),
 			types.GetRedelegationTimeKey(now),
 		},
 		{
 			"ValidatorQueueKey",
-			v042staking.GetValidatorQueueKey(now, 4),
+			v1.GetValidatorQueueKey(now, 4),
 			types.GetValidatorQueueKey(now, 4),
 		},
 		{
 			"HistoricalInfoKey",
-			v042staking.GetHistoricalInfoKey(4),
+			v1.GetHistoricalInfoKey(4),
 			types.GetHistoricalInfoKey(4),
 		},
 	}
@@ -122,7 +122,7 @@ func TestStoreMigration(t *testing.T) {
 	}
 
 	// Run migrations.
-	err := v043staking.MigrateStore(ctx, stakingKey)
+	err := v2.MigrateStore(ctx, stakingKey)
 	require.NoError(t, err)
 
 	// Make sure the new keys are set and old keys are deleted.
diff --git a/x/staking/migrations/v046/json.go b/x/staking/migrations/v3/json.go
similarity index 96%
rename from x/staking/migrations/v046/json.go
rename to x/staking/migrations/v3/json.go
index e3be292a2c74..22462660826b 100644
--- a/x/staking/migrations/v046/json.go
+++ b/x/staking/migrations/v3/json.go
@@ -1,4 +1,4 @@
-package v046
+package v3
 
 import "github.com/cosmos/cosmos-sdk/x/staking/types"
 
diff --git a/x/staking/migrations/v046/json_test.go b/x/staking/migrations/v3/json_test.go
similarity index 91%
rename from x/staking/migrations/v046/json_test.go
rename to x/staking/migrations/v3/json_test.go
index df1d8db94329..a52a89ad1325 100644
--- a/x/staking/migrations/v046/json_test.go
+++ b/x/staking/migrations/v3/json_test.go
@@ -1,4 +1,4 @@
-package v046_test
+package v3_test
 
 import (
 	"encoding/json"
@@ -8,7 +8,7 @@ import (
 
 	"github.com/cosmos/cosmos-sdk/client"
 	"github.com/cosmos/cosmos-sdk/simapp"
-	v046 "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v3"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
@@ -21,7 +21,7 @@ func TestMigrateJSON(t *testing.T) {
 
 	oldState := types.DefaultGenesisState()
 
-	newState, err := v046.MigrateJSON(*oldState)
+	newState, err := v3.MigrateJSON(*oldState)
 	require.NoError(t, err)
 
 	bz, err := clientCtx.Codec.MarshalJSON(&newState)
diff --git a/x/staking/migrations/v046/keys.go b/x/staking/migrations/v3/keys.go
similarity index 85%
rename from x/staking/migrations/v046/keys.go
rename to x/staking/migrations/v3/keys.go
index f937f1593058..fd6dd3693a35 100644
--- a/x/staking/migrations/v046/keys.go
+++ b/x/staking/migrations/v3/keys.go
@@ -1,4 +1,4 @@
-package v046
+package v3
 
 const (
 	// ModuleName is the name of the module
diff --git a/x/staking/migrations/v046/store.go b/x/staking/migrations/v3/store.go
similarity index 58%
rename from x/staking/migrations/v046/store.go
rename to x/staking/migrations/v3/store.go
index e2be22cbb1ff..6c5252cef031 100644
--- a/x/staking/migrations/v046/store.go
+++ b/x/staking/migrations/v3/store.go
@@ -1,24 +1,34 @@
-package v046
+package v3
 
 import (
 	"github.com/cosmos/cosmos-sdk/codec"
 	storetypes "github.com/cosmos/cosmos-sdk/store/types"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+	"github.com/cosmos/cosmos-sdk/x/staking/exported"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
+// subspace contains the method needed for migrations of the
+// legacy Params subspace
+type subspace interface {
+	GetParamSet(ctx sdk.Context, ps paramtypes.ParamSet)
+	HasKeyTable() bool
+	WithKeyTable(paramtypes.KeyTable) paramtypes.Subspace
+	Set(ctx sdk.Context, key []byte, value interface{})
+}
+
 // MigrateStore performs in-place store migrations from v0.43/v0.44/v0.45 to v0.46.
 // The migration includes:
 //
 // - Setting the MinCommissionRate param in the paramstore
-func MigrateStore(ctx sdk.Context, storeKey storetypes.StoreKey, cdc codec.BinaryCodec, paramstore paramtypes.Subspace) error {
-	migrateParamsStore(ctx, paramstore)
+func MigrateStore(ctx sdk.Context, storeKey storetypes.StoreKey, cdc codec.BinaryCodec, paramstore exported.Subspace) error {
+	migrateParamsStore(ctx, paramstore.(subspace))
 
 	return nil
 }
 
-func migrateParamsStore(ctx sdk.Context, paramstore paramtypes.Subspace) {
+func migrateParamsStore(ctx sdk.Context, paramstore subspace) {
 	if paramstore.HasKeyTable() {
 		paramstore.Set(ctx, types.KeyMinCommissionRate, types.DefaultMinCommissionRate)
 	} else {
diff --git a/x/staking/migrations/v046/store_test.go b/x/staking/migrations/v3/store_test.go
similarity index 84%
rename from x/staking/migrations/v046/store_test.go
rename to x/staking/migrations/v3/store_test.go
index 6ac24a9e8a5b..f57ce3de6c7f 100644
--- a/x/staking/migrations/v046/store_test.go
+++ b/x/staking/migrations/v3/store_test.go
@@ -1,4 +1,4 @@
-package v046_test
+package v3_test
 
 import (
 	"testing"
@@ -9,7 +9,7 @@ import (
 	"github.com/cosmos/cosmos-sdk/testutil"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
-	v046staking "github.com/cosmos/cosmos-sdk/x/staking/migrations/v046"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v3"
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
@@ -24,7 +24,7 @@ func TestStoreMigration(t *testing.T) {
 	require.False(t, paramstore.Has(ctx, types.KeyMinCommissionRate))
 
 	// Run migrations.
-	err := v046staking.MigrateStore(ctx, stakingKey, encCfg.Codec, paramstore)
+	err := v3.MigrateStore(ctx, stakingKey, encCfg.Codec, paramstore)
 	require.NoError(t, err)
 
 	// Make sure the new params are set.
diff --git a/x/staking/migrations/v4/keys.go b/x/staking/migrations/v4/keys.go
new file mode 100644
index 000000000000..77bf41bfa93d
--- /dev/null
+++ b/x/staking/migrations/v4/keys.go
@@ -0,0 +1,8 @@
+package v4
+
+const (
+	// ModuleName is the name of the module
+	ModuleName = "staking"
+)
+
+var ParamsKey = []byte{0x51} // prefix for parameters for module x/staking
diff --git a/x/staking/migrations/v4/migrations_test.go b/x/staking/migrations/v4/migrations_test.go
new file mode 100644
index 000000000000..da0bc977c22d
--- /dev/null
+++ b/x/staking/migrations/v4/migrations_test.go
@@ -0,0 +1,45 @@
+package v4_test
+
+import (
+	"testing"
+
+	"github.com/stretchr/testify/require"
+
+	"github.com/cosmos/cosmos-sdk/testutil"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	moduletestutil "github.com/cosmos/cosmos-sdk/types/module/testutil"
+	"github.com/cosmos/cosmos-sdk/x/distribution"
+	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+	"github.com/cosmos/cosmos-sdk/x/staking/migrations/v4"
+	"github.com/cosmos/cosmos-sdk/x/staking/types"
+)
+
+type mockSubspace struct {
+	ps types.Params
+}
+
+func newMockSubspace(ps types.Params) mockSubspace {
+	return mockSubspace{ps: ps}
+}
+
+func (ms mockSubspace) GetParamSet(ctx sdk.Context, ps paramtypes.ParamSet) {
+	*ps.(*types.Params) = ms.ps
+}
+
+func TestMigrate(t *testing.T) {
+	encCfg := moduletestutil.MakeTestEncodingConfig(distribution.AppModuleBasic{})
+	cdc := encCfg.Codec
+
+	storeKey := sdk.NewKVStoreKey(v4.ModuleName)
+	tKey := sdk.NewTransientStoreKey("transient_test")
+	ctx := testutil.DefaultContext(storeKey, tKey)
+	store := ctx.KVStore(storeKey)
+
+	legacySubspace := newMockSubspace(types.DefaultParams())
+	require.NoError(t, v4.MigrateStore(ctx, storeKey, cdc, legacySubspace))
+
+	var res types.Params
+	bz := store.Get(v4.ParamsKey)
+	require.NoError(t, cdc.Unmarshal(bz, &res))
+	require.Equal(t, legacySubspace.ps, res)
+}
diff --git a/x/staking/migrations/v4/store.go b/x/staking/migrations/v4/store.go
new file mode 100644
index 000000000000..9a2215fc9b28
--- /dev/null
+++ b/x/staking/migrations/v4/store.go
@@ -0,0 +1,25 @@
+package v4
+
+import (
+	"github.com/cosmos/cosmos-sdk/codec"
+	storetypes "github.com/cosmos/cosmos-sdk/store/types"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	"github.com/cosmos/cosmos-sdk/x/staking/exported"
+	"github.com/cosmos/cosmos-sdk/x/staking/types"
+)
+
+// MigrateStore performs in-place store migrations from v3 to v4.
+func MigrateStore(ctx sdk.Context, storeKey storetypes.StoreKey, cdc codec.BinaryCodec, legacySubspace exported.Subspace) error {
+	store := ctx.KVStore(storeKey)
+	var legacyParams types.Params
+	legacySubspace.GetParamSet(ctx, &legacyParams)
+
+	if err := legacyParams.Validate(); err != nil {
+		return err
+	}
+
+	bz := cdc.MustMarshal(&legacyParams)
+	store.Set(types.ParamsKey, bz)
+
+	return nil
+}
diff --git a/x/staking/module.go b/x/staking/module.go
index f748d2e5a278..4b3f4c2f197e 100644
--- a/x/staking/module.go
+++ b/x/staking/module.go
@@ -4,6 +4,9 @@ import (
 	"context"
 	"encoding/json"
 	"fmt"
+	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
+	"github.com/cosmos/cosmos-sdk/x/staking/exported"
 	"math/rand"
 	"sort"
 
@@ -23,7 +26,6 @@ import (
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	"github.com/cosmos/cosmos-sdk/types/module"
 	simtypes "github.com/cosmos/cosmos-sdk/types/simulation"
-	paramstypes "github.com/cosmos/cosmos-sdk/x/params/types"
 	"github.com/cosmos/cosmos-sdk/x/staking/client/cli"
 	"github.com/cosmos/cosmos-sdk/x/staking/keeper"
 	"github.com/cosmos/cosmos-sdk/x/staking/simulation"
@@ -31,7 +33,7 @@ import (
 )
 
 const (
-	consensusVersion uint64 = 3
+	consensusVersion uint64 = 4
 )
 
 var (
@@ -102,15 +104,25 @@ type AppModule struct {
 	keeper        *keeper.Keeper
 	accountKeeper types.AccountKeeper
 	bankKeeper    types.BankKeeper
+
+	// legacySubspace is used solely for migration of x/params managed parameters
+	legacySubspace exported.Subspace
 }
 
 // NewAppModule creates a new AppModule object
-func NewAppModule(cdc codec.Codec, keeper *keeper.Keeper, ak types.AccountKeeper, bk types.BankKeeper) AppModule {
+func NewAppModule(
+	cdc codec.Codec,
+	keeper *keeper.Keeper,
+	ak types.AccountKeeper,
+	bk types.BankKeeper,
+	ls exported.Subspace,
+) AppModule {
 	return AppModule{
 		AppModuleBasic: AppModuleBasic{cdc: cdc},
 		keeper:         keeper,
 		accountKeeper:  ak,
 		bankKeeper:     bk,
+		legacySubspace: ls,
 	}
 }
 
@@ -145,9 +157,18 @@ func (am AppModule) RegisterServices(cfg module.Configurator) {
 	querier := keeper.Querier{Keeper: am.keeper}
 	types.RegisterQueryServer(cfg.QueryServer(), querier)
 
-	m := keeper.NewMigrator(am.keeper)
-	cfg.RegisterMigration(types.ModuleName, 1, m.Migrate1to2)
-	cfg.RegisterMigration(types.ModuleName, 2, m.Migrate2to3)
+	m := keeper.NewMigrator(am.keeper, am.legacySubspace)
+	if err := cfg.RegisterMigration(types.ModuleName, 1, m.Migrate1to2); err != nil {
+		panic(fmt.Sprintf("failed to migrate x/%s from version 1 to 2: %v", types.ModuleName, err))
+
+	}
+	if err := cfg.RegisterMigration(types.ModuleName, 2, m.Migrate2to3); err != nil {
+		panic(fmt.Sprintf("failed to migrate x/%s from version 2 to 3: %v", types.ModuleName, err))
+
+	}
+	if err := cfg.RegisterMigration(types.ModuleName, 3, m.Migrate3to4); err != nil {
+		panic(fmt.Sprintf("failed to migrate x/%s from version 3 to 4: %v", types.ModuleName, err))
+	}
 }
 
 // InitGenesis performs genesis initialization for the staking module. It returns
@@ -199,8 +220,11 @@ type stakingInputs struct {
 	AccountKeeper types.AccountKeeper
 	BankKeeper    types.BankKeeper
 	Cdc           codec.Codec
-	Subspace      paramstypes.Subspace
 	Key           *store.KVStoreKey
+	ModuleKey     depinject.OwnModuleKey
+	Authority     map[string]sdk.AccAddress `optional:"true"`
+	// LegacySubspace is used solely for migration of x/params managed parameters
+	LegacySubspace exported.Subspace
 }
 
 // Dependency Injection Outputs
@@ -212,8 +236,20 @@ type stakingOutputs struct {
 }
 
 func provideModule(in stakingInputs) stakingOutputs {
-	k := keeper.NewKeeper(in.Cdc, in.Key, in.AccountKeeper, in.BankKeeper, in.Subspace)
-	m := NewAppModule(in.Cdc, k, in.AccountKeeper, in.BankKeeper)
+	authority, ok := in.Authority[depinject.ModuleKey(in.ModuleKey).Name()]
+	if !ok {
+		// default to governance authority if not provided
+		authority = authtypes.NewModuleAddress(govtypes.ModuleName)
+	}
+
+	k := keeper.NewKeeper(
+		in.Cdc,
+		in.Key,
+		in.AccountKeeper,
+		in.BankKeeper,
+		authority.String(),
+	)
+	m := NewAppModule(in.Cdc, k, in.AccountKeeper, in.BankKeeper, in.LegacySubspace)
 	return stakingOutputs{StakingKeeper: k, Module: runtime.WrapAppModule(m)}
 }
 
@@ -270,7 +306,7 @@ func (AppModule) ProposalContents(simState module.SimulationState) []simtypes.We
 
 // RandomizedParams creates randomized staking param changes for the simulator.
 func (AppModule) RandomizedParams(r *rand.Rand) []simtypes.ParamChange {
-	return simulation.ParamChanges(r)
+	return []simtypes.ParamChange{}
 }
 
 // RegisterStoreDecoder registers a decoder for staking module's types
diff --git a/x/staking/spec/01_state.md b/x/staking/spec/01_state.md
index fb3c1825bfcd..3d30ae62e080 100644
--- a/x/staking/spec/01_state.md
+++ b/x/staking/spec/01_state.md
@@ -17,8 +17,10 @@ Store entries prefixed with "Last" must remain unchanged until EndBlock.
 
 ## Params
 
-Params is a module-wide configuration structure that stores system parameters
-and defines overall functioning of the staking module.
+staking module stores it's params in state with the prefix of `0x51`,
+it can only be updated with governance.
+
+* Params: `0x51 | ProtocolBuffer(Params)`
 
 +++ https://github.com/cosmos/cosmos-sdk/blob/v0.46.0-rc1/proto/cosmos/staking/v1beta1/staking.proto#L285-L306
 
diff --git a/x/staking/spec/03_messages.md b/x/staking/spec/03_messages.md
index a0222d36dfeb..50dc19dc2622 100644
--- a/x/staking/spec/03_messages.md
+++ b/x/staking/spec/03_messages.md
@@ -173,3 +173,15 @@ When this message is processed the following actions occur:
     * under this situation if the delegation is the validator's self-delegation then also jail the validator.
 
 ![Begin redelegation sequence](../../../docs/uml/svg/begin_redelegation_sequence.svg)
+
+
+## MsgUpdateParams
+
+The `MsgUpdateParams` update the staking module parameters.
+The params are updated through a governance proposal where the signer is the gov module account address.
+
++++ https://github.com/cosmos/cosmos-sdk/blob/e412ce990251768579d49947991be76a87564f7d/proto/cosmos/staking/v1beta1/tx.proto#L172-L190
+
+The message handling can fail if:
+
+* signer is not the authority defined in the staking keeper (usually the gov module account).
\ No newline at end of file
diff --git a/x/staking/types/codec.go b/x/staking/types/codec.go
index 558f2eb038ad..2eaece370201 100644
--- a/x/staking/types/codec.go
+++ b/x/staking/types/codec.go
@@ -20,11 +20,13 @@ func RegisterLegacyAminoCodec(cdc *codec.LegacyAmino) {
 	legacy.RegisterAminoMsg(cdc, &MsgUndelegate{}, "cosmos-sdk/MsgUndelegate")
 	legacy.RegisterAminoMsg(cdc, &MsgBeginRedelegate{}, "cosmos-sdk/MsgBeginRedelegate")
 	legacy.RegisterAminoMsg(cdc, &MsgCancelUnbondingDelegation{}, "cosmos-sdk/MsgCancelUnbondingDelegation")
+	legacy.RegisterAminoMsg(cdc, &MsgUpdateParams{}, "cosmos-sdk/x/staking/MsgUpdateParams")
 
 	cdc.RegisterInterface((*isStakeAuthorization_Validators)(nil), nil)
 	cdc.RegisterConcrete(&StakeAuthorization_AllowList{}, "cosmos-sdk/StakeAuthorization/AllowList", nil)
 	cdc.RegisterConcrete(&StakeAuthorization_DenyList{}, "cosmos-sdk/StakeAuthorization/DenyList", nil)
 	cdc.RegisterConcrete(&StakeAuthorization{}, "cosmos-sdk/StakeAuthorization", nil)
+	cdc.RegisterConcrete(Params{}, "cosmos-sdk/x/staking/Params", nil)
 }
 
 // RegisterInterfaces registers the x/staking interfaces types with the interface registry
@@ -36,6 +38,7 @@ func RegisterInterfaces(registry types.InterfaceRegistry) {
 		&MsgUndelegate{},
 		&MsgBeginRedelegate{},
 		&MsgCancelUnbondingDelegation{},
+		&MsgUpdateParams{},
 	)
 	registry.RegisterImplementations(
 		(*authz.Authorization)(nil),
diff --git a/x/staking/types/genesis.pb.go b/x/staking/types/genesis.pb.go
index 51a94e79d85b..7de0500b1640 100644
--- a/x/staking/types/genesis.pb.go
+++ b/x/staking/types/genesis.pb.go
@@ -27,7 +27,7 @@ const _ = proto.GoGoProtoPackageIsVersion3 // please upgrade the proto package
 
 // GenesisState defines the staking module's genesis state.
 type GenesisState struct {
-	// params defines all the paramaters of related to deposit.
+	// params defines all the parameters of related to deposit.
 	Params Params `protobuf:"bytes,1,opt,name=params,proto3" json:"params"`
 	// last_total_power tracks the total amounts of bonded tokens recorded during
 	// the previous end block.
diff --git a/x/staking/types/keys.go b/x/staking/types/keys.go
index ca0023d71080..1b86e4e5b5a5 100644
--- a/x/staking/types/keys.go
+++ b/x/staking/types/keys.go
@@ -50,6 +50,8 @@ var (
 	ValidatorQueueKey    = []byte{0x43} // prefix for the timestamps in validator queue
 
 	HistoricalInfoKey = []byte{0x50} // prefix for the historical info
+
+	ParamsKey = []byte{0x51} // prefix for parameters for module x/staking
 )
 
 // GetValidatorKey creates the key for the validator with address
diff --git a/x/staking/types/msg.go b/x/staking/types/msg.go
index 4cacc16ca6c8..5a022d7391f2 100644
--- a/x/staking/types/msg.go
+++ b/x/staking/types/msg.go
@@ -16,6 +16,7 @@ const (
 	TypeMsgCreateValidator           = "create_validator"
 	TypeMsgDelegate                  = "delegate"
 	TypeMsgBeginRedelegate           = "begin_redelegate"
+	TypeMsgUpdateParams              = "update_params"
 )
 
 var (
@@ -27,6 +28,7 @@ var (
 	_ sdk.Msg                            = &MsgUndelegate{}
 	_ sdk.Msg                            = &MsgBeginRedelegate{}
 	_ sdk.Msg                            = &MsgCancelUnbondingDelegation{}
+	_ sdk.Msg                            = &MsgUpdateParams{}
 )
 
 // NewMsgCreateValidator creates a new MsgCreateValidator instance.
@@ -393,3 +395,24 @@ func (msg MsgCancelUnbondingDelegation) ValidateBasic() error {
 
 	return nil
 }
+
+// GetSignBytes returns the raw bytes for a MsgUpdateParams message that
+// the expected signer needs to sign.
+func (m MsgUpdateParams) GetSignBytes() []byte {
+	bz := ModuleCdc.MustMarshalJSON(&m)
+	return sdk.MustSortJSON(bz)
+}
+
+// ValidateBasic executes sanity validation on the provided data
+func (m *MsgUpdateParams) ValidateBasic() error {
+	if _, err := sdk.AccAddressFromBech32(m.Authority); err != nil {
+		return sdkerrors.Wrap(err, "invalid authority address")
+	}
+	return m.Params.Validate()
+}
+
+// GetSigners returns the expected signers for a MsgUpdateParams message
+func (m *MsgUpdateParams) GetSigners() []sdk.AccAddress {
+	addr, _ := sdk.AccAddressFromBech32(m.Authority)
+	return []sdk.AccAddress{addr}
+}
diff --git a/x/staking/types/msg_test.go b/x/staking/types/msg_test.go
index f1ba552d9115..49416dbb9cf4 100644
--- a/x/staking/types/msg_test.go
+++ b/x/staking/types/msg_test.go
@@ -1,7 +1,10 @@
 package types_test
 
 import (
+	authtypes "github.com/cosmos/cosmos-sdk/x/auth/types"
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	"testing"
+	"time"
 
 	"github.com/stretchr/testify/require"
 
@@ -197,3 +200,153 @@ func TestMsgUndelegate(t *testing.T) {
 		}
 	}
 }
+
+func TestMsgUpdateParams(t *testing.T) {
+	msg := types.MsgUpdateParams{
+		Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+		Params:    types.DefaultParams(),
+	}
+
+	require.Equal(t, []sdk.AccAddress{authtypes.NewModuleAddress(govtypes.ModuleName)}, msg.GetSigners())
+}
+
+func TestMsgUpdateParamsValidateBasic(t *testing.T) {
+	tests := []struct {
+		name            string
+		msgUpdateParams types.MsgUpdateParams
+		expFail         bool
+		expError        string
+	}{
+		{
+			"valid msg",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params:    types.DefaultParams(),
+			},
+			false,
+			"",
+		},
+		{
+			"negative unbounding time",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3 * -1,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"unbonding time must be positive:",
+		},
+		{
+			"cero value max validator",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     0,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"max validators must be positive:",
+		},
+		{
+			"cero value max validator",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        0,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"max entries must be positive:",
+		},
+		{
+			"negative commission rate",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: sdk.NewDec(-1),
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"minimum commission rate cannot be negative:",
+		},
+		{
+			"negative commission rate",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: sdk.NewDec(2),
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"minimum commission rate cannot be greater than 100",
+		},
+		{
+			"blank bonddenom",
+			types.MsgUpdateParams{
+				Authority: authtypes.NewModuleAddress(govtypes.ModuleName).String(),
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					BondDenom:         "",
+				},
+			},
+			true,
+			"bond denom cannot be blank",
+		},
+		{
+			"Invalid authority",
+			types.MsgUpdateParams{
+				Authority: "invalid",
+				Params: types.Params{
+					UnbondingTime:     time.Hour * 24 * 7 * 3,
+					MaxEntries:        types.DefaultMaxEntries,
+					MaxValidators:     types.DefaultMaxValidators,
+					HistoricalEntries: types.DefaultHistoricalEntries,
+					MinCommissionRate: types.DefaultMinCommissionRate,
+					BondDenom:         "denom",
+				},
+			},
+			true,
+			"invalid authority address",
+		},
+	}
+
+	for _, tc := range tests {
+		err := tc.msgUpdateParams.ValidateBasic()
+		if tc.expFail {
+			require.Error(t, err)
+			require.Contains(t, err.Error(), tc.expError)
+		} else {
+			require.NoError(t, err)
+		}
+	}
+}
diff --git a/x/staking/types/params.go b/x/staking/types/params.go
index 46405e3ad308..c28eeea7da15 100644
--- a/x/staking/types/params.go
+++ b/x/staking/types/params.go
@@ -11,7 +11,6 @@ import (
 
 	"github.com/cosmos/cosmos-sdk/codec"
 	sdk "github.com/cosmos/cosmos-sdk/types"
-	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
 )
 
 // Staking params default values
@@ -36,22 +35,6 @@ const (
 // DefaultMinCommissionRate is set to 0%
 var DefaultMinCommissionRate = sdk.ZeroDec()
 
-var (
-	KeyUnbondingTime     = []byte("UnbondingTime")
-	KeyMaxValidators     = []byte("MaxValidators")
-	KeyMaxEntries        = []byte("MaxEntries")
-	KeyBondDenom         = []byte("BondDenom")
-	KeyHistoricalEntries = []byte("HistoricalEntries")
-	KeyMinCommissionRate = []byte("MinCommissionRate")
-)
-
-var _ paramtypes.ParamSet = (*Params)(nil)
-
-// ParamTable for staking module
-func ParamKeyTable() paramtypes.KeyTable {
-	return paramtypes.NewKeyTable().RegisterParamSet(&Params{})
-}
-
 // NewParams creates a new Params instance
 func NewParams(unbondingTime time.Duration, maxValidators, maxEntries, historicalEntries uint32, bondDenom string, minCommissionRate sdk.Dec) Params {
 	return Params{
@@ -64,18 +47,6 @@ func NewParams(unbondingTime time.Duration, maxValidators, maxEntries, historica
 	}
 }
 
-// Implements params.ParamSet
-func (p *Params) ParamSetPairs() paramtypes.ParamSetPairs {
-	return paramtypes.ParamSetPairs{
-		paramtypes.NewParamSetPair(KeyUnbondingTime, &p.UnbondingTime, validateUnbondingTime),
-		paramtypes.NewParamSetPair(KeyMaxValidators, &p.MaxValidators, validateMaxValidators),
-		paramtypes.NewParamSetPair(KeyMaxEntries, &p.MaxEntries, validateMaxEntries),
-		paramtypes.NewParamSetPair(KeyHistoricalEntries, &p.HistoricalEntries, validateHistoricalEntries),
-		paramtypes.NewParamSetPair(KeyBondDenom, &p.BondDenom, validateBondDenom),
-		paramtypes.NewParamSetPair(KeyMinCommissionRate, &p.MinCommissionRate, validateMinCommissionRate),
-	}
-}
-
 // DefaultParams returns a default set of parameters.
 func DefaultParams() Params {
 	return NewParams(
diff --git a/x/staking/types/params_legacy.go b/x/staking/types/params_legacy.go
new file mode 100644
index 000000000000..39a125ff4298
--- /dev/null
+++ b/x/staking/types/params_legacy.go
@@ -0,0 +1,33 @@
+package types
+
+import paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+
+var (
+	KeyUnbondingTime     = []byte("UnbondingTime")
+	KeyMaxValidators     = []byte("MaxValidators")
+	KeyMaxEntries        = []byte("MaxEntries")
+	KeyBondDenom         = []byte("BondDenom")
+	KeyHistoricalEntries = []byte("HistoricalEntries")
+	KeyMinCommissionRate = []byte("MinCommissionRate")
+)
+
+var _ paramtypes.ParamSet = (*Params)(nil)
+
+// ParamTable for staking module
+// NOTE: Deprecated now params can be accesed on key `0x51` on the staking store.
+func ParamKeyTable() paramtypes.KeyTable {
+	return paramtypes.NewKeyTable().RegisterParamSet(&Params{})
+}
+
+// Implements params.ParamSet
+// NOTE: Deprecated.
+func (p *Params) ParamSetPairs() paramtypes.ParamSetPairs {
+	return paramtypes.ParamSetPairs{
+		paramtypes.NewParamSetPair(KeyUnbondingTime, &p.UnbondingTime, validateUnbondingTime),
+		paramtypes.NewParamSetPair(KeyMaxValidators, &p.MaxValidators, validateMaxValidators),
+		paramtypes.NewParamSetPair(KeyMaxEntries, &p.MaxEntries, validateMaxEntries),
+		paramtypes.NewParamSetPair(KeyHistoricalEntries, &p.HistoricalEntries, validateHistoricalEntries),
+		paramtypes.NewParamSetPair(KeyBondDenom, &p.BondDenom, validateBondDenom),
+		paramtypes.NewParamSetPair(KeyMinCommissionRate, &p.MinCommissionRate, validateMinCommissionRate),
+	}
+}
diff --git a/x/staking/types/staking.pb.go b/x/staking/types/staking.pb.go
index 8dbfa99ae59f..af193a3a4bd7 100644
--- a/x/staking/types/staking.pb.go
+++ b/x/staking/types/staking.pb.go
@@ -834,7 +834,7 @@ func (m *Redelegation) XXX_DiscardUnknown() {
 
 var xxx_messageInfo_Redelegation proto.InternalMessageInfo
 
-// Params defines the parameters for the staking module.
+// Params defines the parameters for the x/staking module.
 type Params struct {
 	// unbonding_time is the time duration of unbonding.
 	UnbondingTime time.Duration `protobuf:"bytes,1,opt,name=unbonding_time,json=unbondingTime,proto3,stdduration" json:"unbonding_time"`
diff --git a/x/staking/types/tx.pb.go b/x/staking/types/tx.pb.go
index 040c6a9233f4..49d737dff750 100644
--- a/x/staking/types/tx.pb.go
+++ b/x/staking/types/tx.pb.go
@@ -535,6 +535,105 @@ func (m *MsgCancelUnbondingDelegationResponse) XXX_DiscardUnknown() {
 
 var xxx_messageInfo_MsgCancelUnbondingDelegationResponse proto.InternalMessageInfo
 
+// MsgUpdateParams is the Msg/UpdateParams request type.
+//
+// Since: cosmos-sdk 0.47
+type MsgUpdateParams struct {
+	// authority is the address of the governance account.
+	Authority string `protobuf:"bytes,1,opt,name=authority,proto3" json:"authority,omitempty"`
+	// params defines the x/staking parameters to update.
+	//
+	// NOTE: All parameters must be supplied.
+	Params Params `protobuf:"bytes,2,opt,name=params,proto3" json:"params"`
+}
+
+func (m *MsgUpdateParams) Reset()         { *m = MsgUpdateParams{} }
+func (m *MsgUpdateParams) String() string { return proto.CompactTextString(m) }
+func (*MsgUpdateParams) ProtoMessage()    {}
+func (*MsgUpdateParams) Descriptor() ([]byte, []int) {
+	return fileDescriptor_0926ef28816b35ab, []int{12}
+}
+func (m *MsgUpdateParams) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgUpdateParams) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgUpdateParams.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgUpdateParams) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgUpdateParams.Merge(m, src)
+}
+func (m *MsgUpdateParams) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgUpdateParams) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgUpdateParams.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgUpdateParams proto.InternalMessageInfo
+
+func (m *MsgUpdateParams) GetAuthority() string {
+	if m != nil {
+		return m.Authority
+	}
+	return ""
+}
+
+func (m *MsgUpdateParams) GetParams() Params {
+	if m != nil {
+		return m.Params
+	}
+	return Params{}
+}
+
+// MsgUpdateParamsResponse defines the response structure for executing a
+// MsgUpdateParams message.
+//
+// Since: cosmos-sdk 0.47
+type MsgUpdateParamsResponse struct {
+}
+
+func (m *MsgUpdateParamsResponse) Reset()         { *m = MsgUpdateParamsResponse{} }
+func (m *MsgUpdateParamsResponse) String() string { return proto.CompactTextString(m) }
+func (*MsgUpdateParamsResponse) ProtoMessage()    {}
+func (*MsgUpdateParamsResponse) Descriptor() ([]byte, []int) {
+	return fileDescriptor_0926ef28816b35ab, []int{13}
+}
+func (m *MsgUpdateParamsResponse) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgUpdateParamsResponse) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgUpdateParamsResponse.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgUpdateParamsResponse) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgUpdateParamsResponse.Merge(m, src)
+}
+func (m *MsgUpdateParamsResponse) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgUpdateParamsResponse) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgUpdateParamsResponse.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgUpdateParamsResponse proto.InternalMessageInfo
+
 func init() {
 	proto.RegisterType((*MsgCreateValidator)(nil), "cosmos.staking.v1beta1.MsgCreateValidator")
 	proto.RegisterType((*MsgCreateValidatorResponse)(nil), "cosmos.staking.v1beta1.MsgCreateValidatorResponse")
@@ -548,71 +647,78 @@ func init() {
 	proto.RegisterType((*MsgUndelegateResponse)(nil), "cosmos.staking.v1beta1.MsgUndelegateResponse")
 	proto.RegisterType((*MsgCancelUnbondingDelegation)(nil), "cosmos.staking.v1beta1.MsgCancelUnbondingDelegation")
 	proto.RegisterType((*MsgCancelUnbondingDelegationResponse)(nil), "cosmos.staking.v1beta1.MsgCancelUnbondingDelegationResponse")
+	proto.RegisterType((*MsgUpdateParams)(nil), "cosmos.staking.v1beta1.MsgUpdateParams")
+	proto.RegisterType((*MsgUpdateParamsResponse)(nil), "cosmos.staking.v1beta1.MsgUpdateParamsResponse")
 }
 
 func init() { proto.RegisterFile("cosmos/staking/v1beta1/tx.proto", fileDescriptor_0926ef28816b35ab) }
 
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+	0x6a, 0x6b, 0xb0, 0x32, 0x92, 0xb5, 0x54, 0xe3, 0x60, 0x21, 0x9a, 0xa0, 0x0d, 0x6c, 0x3b, 0xa4,
+	0x8d, 0xad, 0x53, 0x16, 0xe5, 0x53, 0x58, 0x1b, 0x8a, 0xc2, 0x02, 0x33, 0xb3, 0x30, 0x2b, 0xd2,
+	0x6c, 0x37, 0x30, 0x67, 0xb2, 0x59, 0x8c, 0x4b, 0xb6, 0xc5, 0xcc, 0x6c, 0x4d, 0xc6, 0xa7, 0x95,
+	0xce, 0x9f, 0xae, 0xd2, 0xbd, 0x68, 0x60, 0x4c, 0x28, 0x9a, 0x08, 0xae, 0xb6, 0xa2, 0x73, 0xe8,
+	0xbb, 0x38, 0x6c, 0xe4, 0x4e, 0x78, 0xc1, 0x8a, 0xf9, 0xa0, 0x4d, 0x0d, 0xc3, 0xcf, 0x92, 0xdb,
+	0xb7, 0x71, 0x36, 0x0c, 0xe0, 0xe9, 0xaf, 0x55, 0x25, 0x3a, 0x73, 0xc2, 0x38, 0xdc, 0xae, 0xfd,
+	0xad, 0xc0, 0xf9, 0x16, 0xb3, 0x1f, 0x11, 0xeb, 0x7f, 0xd6, 0xcf, 0x7b, 0xb0, 0x36, 0x96, 0xf7,
+	0xeb, 0x12, 0xf8, 0x87, 0x05, 0xb8, 0x1c, 0xce, 0x7f, 0x44, 0x4c, 0xec, 0x3e, 0x22, 0x06, 0x25,
+	0x96, 0x43, 0xec, 0xe3, 0xae, 0xd8, 0xff, 0x9c, 0xde, 0xea, 0x3a, 0x14, 0xcd, 0xf0, 0x8e, 0x0b,
+	0x45, 0xeb, 0x62, 0xc7, 0xee, 0xc6, 0xe7, 0x62, 0xb1, 0xbd, 0x9c, 0x2c, 0x7f, 0x12, 0xad, 0x1e,
+	0x5b, 0x98, 0xeb, 0x70, 0x2d, 0x4d, 0x2f, 0x39, 0x79, 0xbe, 0x57, 0xa0, 0x18, 0x56, 0xd0, 0xb7,
+	0x10, 0xc7, 0x0f, 0x51, 0x80, 0x3c, 0xa6, 0x7e, 0x08, 0xe7, 0x50, 0x9f, 0x77, 0x69, 0xe0, 0xf0,
+	0xc1, 0xb1, 0x1a, 0x0e, 0xa1, 0xea, 0x0e, 0x14, 0xfc, 0x88, 0x41, 0xbc, 0xcf, 0x2a, 0xf3, 0xee,
+	0xda, 0xd8, 0x4f, 0x92, 0x7a, 0x6c, 0xb3, 0xbd, 0x1c, 0x66, 0x32, 0x64, 0xab, 0x95, 0xe1, 0xd2,
+	0x44, 0x60, 0x49, 0xd0, 0x5b, 0xdf, 0x15, 0x60, 0xb1, 0xc5, 0x6c, 0xf5, 0x31, 0x14, 0x27, 0x1f,
+	0x9d, 0x37, 0xe6, 0xf9, 0x9c, 0x7e, 0x3d, 0x68, 0x5b, 0xd9, 0xb1, 0xb2, 0xaf, 0x7b, 0x70, 0x7e,
+	0xfc, 0x95, 0xb1, 0x91, 0x42, 0x32, 0x86, 0xd4, 0xde, 0xcb, 0x8a, 0x94, 0xce, 0xbe, 0x84, 0xb3,
+	0xf2, 0x82, 0xbc, 0x9a, 0x62, 0x9d, 0x80, 0xb4, 0x77, 0x32, 0x80, 0x24, 0xfb, 0x63, 0x28, 0x4e,
+	0x5e, 0x38, 0x69, 0xea, 0x4d, 0x60, 0x53, 0xd5, 0x9b, 0x37, 0x76, 0x0d, 0x80, 0x91, 0x19, 0xf9,
+	0x76, 0x0a, 0xc3, 0x10, 0xa6, 0x6d, 0x66, 0x82, 0x49, 0x1f, 0xdf, 0x28, 0x50, 0x9e, 0x3f, 0x27,
+	0x6e, 0xa5, 0xd5, 0x7c, 0x9e, 0x95, 0xb6, 0xf3, 0x6f, 0xac, 0x64, 0x44, 0x5d, 0x78, 0x73, 0xec,
+	0x7c, 0xad, 0xa7, 0x25, 0x34, 0x02, 0xd4, 0xea, 0x19, 0x81, 0x89, 0xa7, 0xc6, 0xbd, 0x17, 0x87,
+	0x15, 0xe5, 0xe0, 0xb0, 0xa2, 0xfc, 0x76, 0x58, 0x51, 0x9e, 0x1e, 0x55, 0x72, 0x07, 0x47, 0x95,
+	0xdc, 0xcf, 0x47, 0x95, 0xdc, 0x17, 0xef, 0xa6, 0x3e, 0xfa, 0x9e, 0xc8, 0xbf, 0x7e, 0xd1, 0xf3,
+	0xcf, 0x28, 0x44, 0xc3, 0xf9, 0xfd, 0x7f, 0x02, 0x00, 0x00, 0xff, 0xff, 0x69, 0xfd, 0x9c, 0x84,
+	0xdf, 0x0e, 0x00, 0x00,
 }
 
 // Reference imports to suppress errors if they are not otherwise used.
@@ -645,6 +751,10 @@ type MsgClient interface {
 	//
 	// Since: cosmos-sdk 0.46
 	CancelUnbondingDelegation(ctx context.Context, in *MsgCancelUnbondingDelegation, opts ...grpc.CallOption) (*MsgCancelUnbondingDelegationResponse, error)
+	// UpdateParams defines a operation for updating the x/staking module
+	// parameters.
+	// Since: cosmos-sdk 0.47
+	UpdateParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error)
 }
 
 type msgClient struct {
@@ -709,6 +819,15 @@ func (c *msgClient) CancelUnbondingDelegation(ctx context.Context, in *MsgCancel
 	return out, nil
 }
 
+func (c *msgClient) UpdateParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error) {
+	out := new(MsgUpdateParamsResponse)
+	err := c.cc.Invoke(ctx, "/cosmos.staking.v1beta1.Msg/UpdateParams", in, out, opts...)
+	if err != nil {
+		return nil, err
+	}
+	return out, nil
+}
+
 // MsgServer is the server API for Msg service.
 type MsgServer interface {
 	// CreateValidator defines a method for creating a new validator.
@@ -729,6 +848,10 @@ type MsgServer interface {
 	//
 	// Since: cosmos-sdk 0.46
 	CancelUnbondingDelegation(context.Context, *MsgCancelUnbondingDelegation) (*MsgCancelUnbondingDelegationResponse, error)
+	// UpdateParams defines a operation for updating the x/staking module
+	// parameters.
+	// Since: cosmos-sdk 0.47
+	UpdateParams(context.Context, *MsgUpdateParams) (*MsgUpdateParamsResponse, error)
 }
 
 // UnimplementedMsgServer can be embedded to have forward compatible implementations.
@@ -753,6 +876,9 @@ func (*UnimplementedMsgServer) Undelegate(ctx context.Context, req *MsgUndelegat
 func (*UnimplementedMsgServer) CancelUnbondingDelegation(ctx context.Context, req *MsgCancelUnbondingDelegation) (*MsgCancelUnbondingDelegationResponse, error) {
 	return nil, status.Errorf(codes.Unimplemented, "method CancelUnbondingDelegation not implemented")
 }
+func (*UnimplementedMsgServer) UpdateParams(ctx context.Context, req *MsgUpdateParams) (*MsgUpdateParamsResponse, error) {
+	return nil, status.Errorf(codes.Unimplemented, "method UpdateParams not implemented")
+}
 
 func RegisterMsgServer(s grpc1.Server, srv MsgServer) {
 	s.RegisterService(&_Msg_serviceDesc, srv)
@@ -866,6 +992,24 @@ func _Msg_CancelUnbondingDelegation_Handler(srv interface{}, ctx context.Context
 	return interceptor(ctx, in, info, handler)
 }
 
+func _Msg_UpdateParams_Handler(srv interface{}, ctx context.Context, dec func(interface{}) error, interceptor grpc.UnaryServerInterceptor) (interface{}, error) {
+	in := new(MsgUpdateParams)
+	if err := dec(in); err != nil {
+		return nil, err
+	}
+	if interceptor == nil {
+		return srv.(MsgServer).UpdateParams(ctx, in)
+	}
+	info := &grpc.UnaryServerInfo{
+		Server:     srv,
+		FullMethod: "/cosmos.staking.v1beta1.Msg/UpdateParams",
+	}
+	handler := func(ctx context.Context, req interface{}) (interface{}, error) {
+		return srv.(MsgServer).UpdateParams(ctx, req.(*MsgUpdateParams))
+	}
+	return interceptor(ctx, in, info, handler)
+}
+
 var _Msg_serviceDesc = grpc.ServiceDesc{
 	ServiceName: "cosmos.staking.v1beta1.Msg",
 	HandlerType: (*MsgServer)(nil),
@@ -894,6 +1038,10 @@ var _Msg_serviceDesc = grpc.ServiceDesc{
 			MethodName: "CancelUnbondingDelegation",
 			Handler:    _Msg_CancelUnbondingDelegation_Handler,
 		},
+		{
+			MethodName: "UpdateParams",
+			Handler:    _Msg_UpdateParams_Handler,
+		},
 	},
 	Streams:  []grpc.StreamDesc{},
 	Metadata: "cosmos/staking/v1beta1/tx.proto",
@@ -1406,6 +1554,69 @@ func (m *MsgCancelUnbondingDelegationResponse) MarshalToSizedBuffer(dAtA []byte)
 	return len(dAtA) - i, nil
 }
 
+func (m *MsgUpdateParams) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgUpdateParams) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgUpdateParams) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	{
+		size, err := m.Params.MarshalToSizedBuffer(dAtA[:i])
+		if err != nil {
+			return 0, err
+		}
+		i -= size
+		i = encodeVarintTx(dAtA, i, uint64(size))
+	}
+	i--
+	dAtA[i] = 0x12
+	if len(m.Authority) > 0 {
+		i -= len(m.Authority)
+		copy(dAtA[i:], m.Authority)
+		i = encodeVarintTx(dAtA, i, uint64(len(m.Authority)))
+		i--
+		dAtA[i] = 0xa
+	}
+	return len(dAtA) - i, nil
+}
+
+func (m *MsgUpdateParamsResponse) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgUpdateParamsResponse) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgUpdateParamsResponse) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	return len(dAtA) - i, nil
+}
+
 func encodeVarintTx(dAtA []byte, offset int, v uint64) int {
 	offset -= sovTx(v)
 	base := offset
@@ -1610,6 +1821,30 @@ func (m *MsgCancelUnbondingDelegationResponse) Size() (n int) {
 	return n
 }
 
+func (m *MsgUpdateParams) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	l = len(m.Authority)
+	if l > 0 {
+		n += 1 + l + sovTx(uint64(l))
+	}
+	l = m.Params.Size()
+	n += 1 + l + sovTx(uint64(l))
+	return n
+}
+
+func (m *MsgUpdateParamsResponse) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	return n
+}
+
 func sovTx(x uint64) (n int) {
 	return (math_bits.Len64(x|1) + 6) / 7
 }
@@ -3091,6 +3326,171 @@ func (m *MsgCancelUnbondingDelegationResponse) Unmarshal(dAtA []byte) error {
 	}
 	return nil
 }
+func (m *MsgUpdateParams) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgUpdateParams: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgUpdateParams: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		case 1:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field Authority", wireType)
+			}
+			var stringLen uint64
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				stringLen |= uint64(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			intStringLen := int(stringLen)
+			if intStringLen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + intStringLen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			m.Authority = string(dAtA[iNdEx:postIndex])
+			iNdEx = postIndex
+		case 2:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field Params", wireType)
+			}
+			var msglen int
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				msglen |= int(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			if msglen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + msglen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			if err := m.Params.Unmarshal(dAtA[iNdEx:postIndex]); err != nil {
+				return err
+			}
+			iNdEx = postIndex
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
+func (m *MsgUpdateParamsResponse) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgUpdateParamsResponse: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgUpdateParamsResponse: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
 func skipTx(dAtA []byte) (n int, err error) {
 	l := len(dAtA)
 	iNdEx := 0