diff --git a/pallets/pallet-bonded-coins/src/lib.rs b/pallets/pallet-bonded-coins/src/lib.rs
index 658fcc8fc..8512b50e2 100644
--- a/pallets/pallet-bonded-coins/src/lib.rs
+++ b/pallets/pallet-bonded-coins/src/lib.rs
@@ -20,6 +20,8 @@
 
 pub use pallet::*;
 
+pub mod migrations;
+
 #[cfg(feature = "runtime-benchmarks")]
 mod benchmarking;
 #[cfg(any(test, feature = "runtime-benchmarks"))]
diff --git a/pallets/pallet-bonded-coins/src/migrations/mod.rs b/pallets/pallet-bonded-coins/src/migrations/mod.rs
new file mode 100644
index 000000000..a3a6d96c3
--- /dev/null
+++ b/pallets/pallet-bonded-coins/src/migrations/mod.rs
@@ -0,0 +1 @@
+pub mod v1;
diff --git a/pallets/pallet-bonded-coins/src/migrations/v1.rs b/pallets/pallet-bonded-coins/src/migrations/v1.rs
new file mode 100644
index 000000000..4f56bf754
--- /dev/null
+++ b/pallets/pallet-bonded-coins/src/migrations/v1.rs
@@ -0,0 +1,177 @@
+use frame_support::{
+	pallet_prelude::*,
+	traits::{Get, OnRuntimeUpgrade},
+};
+use sp_runtime::traits::Saturating;
+
+use crate::{
+	curves::Curve,
+	types::{Locks, PoolStatus},
+	BondedCurrenciesSettingsOf, BoundedCurrencyVec, CollateralAssetIdOf, Config, CurveParameterTypeOf,
+	DepositBalanceOf, FungiblesBalanceOf,
+};
+
+#[cfg(feature = "try-runtime")]
+const LOG_TARGET: &str = "migration::pallet-bonded-coins";
+
+/// Collection of storage item formats from the previous storage version.
+///
+/// Required so we can read values in the v0 storage format during the
+/// migration.
+mod v0 {
+	use super::*;
+	use frame_support::{storage_alias, Twox64Concat};
+	use parity_scale_codec::{Decode, Encode};
+	use scale_info::TypeInfo;
+
+	// V0 pool details
+	#[derive(Clone, Encode, Decode, PartialEq, Eq, TypeInfo, MaxEncodedLen, Debug)]
+	pub struct PoolDetails<AccountId, ParametrizedCurve, Currencies, BaseCurrencyId, DepositBalance, FungiblesBalance> {
+		/// The owner of the pool.
+		pub owner: AccountId,
+		/// The manager of the pool. If a manager is set, the pool is
+		/// permissioned.
+		pub manager: Option<AccountId>,
+		/// The curve of the pool.
+		pub curve: ParametrizedCurve,
+		/// The collateral currency of the pool.
+		pub collateral: BaseCurrencyId,
+		/// The bonded currencies of the pool.
+		pub bonded_currencies: Currencies,
+		/// The status of the pool.
+		pub state: PoolStatus<Locks>,
+		/// Whether the pool is transferable or not.
+		pub transferable: bool,
+		/// The denomination of the pool.
+		pub denomination: u8,
+		/// The minimum amount that can be minted/burnt.
+		pub min_operation_balance: FungiblesBalance,
+		/// The deposit to be returned upon destruction of this pool.
+		pub deposit: DepositBalance,
+	}
+
+	pub type PoolDetailsOf<T> = PoolDetails<
+		<T as frame_system::Config>::AccountId,
+		Curve<CurveParameterTypeOf<T>>,
+		BoundedCurrencyVec<T>,
+		CollateralAssetIdOf<T>,
+		DepositBalanceOf<T>,
+		FungiblesBalanceOf<T>,
+	>;
+
+	/// V0 type for [`crate::Pools`].
+	#[storage_alias]
+	pub type Pools<T: crate::Config> =
+		StorageMap<crate::Pallet<T>, Twox64Concat, <T as crate::Config>::PoolId, PoolDetailsOf<T>, OptionQuery>;
+}
+
+fn v0_to_v1<T: Config>(old_value: v0::PoolDetailsOf<T>) -> crate::PoolDetailsOf<T> {
+	let v0::PoolDetailsOf::<T> {
+		owner,
+		curve,
+		manager,
+		collateral,
+		bonded_currencies,
+		state,
+		transferable,
+		denomination,
+		min_operation_balance,
+		deposit,
+	} = old_value;
+
+	crate::PoolDetailsOf::<T> {
+		owner,
+		curve,
+		manager,
+		collateral,
+		bonded_currencies,
+		state,
+		deposit,
+		currencies_settings: BondedCurrenciesSettingsOf::<T> {
+			denomination,
+			min_operation_balance,
+			transferable,
+			allow_reset_team: true,
+		},
+	}
+}
+
+pub struct InnerMigrateV0ToV1<T: crate::Config>(core::marker::PhantomData<T>);
+
+impl<T: crate::Config> OnRuntimeUpgrade for InnerMigrateV0ToV1<T>
+where
+	T::PoolId: sp_std::fmt::Debug,
+{
+	/// Return a vector of existing [`crate::Pools`] values so we can check that
+	/// they were correctly set in `InnerMigrateV0ToV1::post_upgrade`.
+	#[cfg(feature = "try-runtime")]
+	fn pre_upgrade() -> Result<sp_std::vec::Vec<u8>, sp_runtime::TryRuntimeError> {
+		// Access the old value using the `storage_alias` type
+		let old_value: sp_std::vec::Vec<(T::PoolId, v0::PoolDetailsOf<T>)> = v0::Pools::<T>::iter().collect();
+		// Return it as an encoded `Vec<u8>`
+		Ok(old_value.encode())
+	}
+
+	/// Migrate the storage from V0 to V1.
+	fn on_runtime_upgrade() -> frame_support::weights::Weight {
+		let mut translated = 0u64;
+		// Read values in-place
+		crate::Pools::<T>::translate_values::<v0::PoolDetailsOf<T>, _>(|old_value| {
+			translated.saturating_inc();
+			Some(v0_to_v1::<T>(old_value))
+		});
+
+		// One read for taking the old value, and one write for setting the new value
+		T::DbWeight::get().reads_writes(translated, translated)
+	}
+
+	/// Verifies the storage was migrated correctly.
+	#[cfg(feature = "try-runtime")]
+	fn post_upgrade(state: sp_std::vec::Vec<u8>) -> Result<(), sp_runtime::TryRuntimeError> {
+		use sp_runtime::traits::SaturatedConversion;
+
+		let old_values = sp_std::vec::Vec::<(T::PoolId, v0::PoolDetailsOf<T>)>::decode(&mut &state[..])
+			.map_err(|_| sp_runtime::TryRuntimeError::Other("Failed to decode old value from storage"))?;
+
+		let prev_count: u32 = old_values.len().saturated_into();
+		let post_count: u32 = crate::Pools::<T>::iter().count().saturated_into();
+
+		ensure!(
+			prev_count == post_count,
+			"the pool count before and after the migration should be the same"
+		);
+
+		log::info!(target: LOG_TARGET, "Migrated {} pool entries", post_count);
+
+		old_values.into_iter().try_for_each(|(pool_id, old_value)| {
+			let expected_new_value = v0_to_v1::<T>(old_value);
+			let actual_new_value = crate::Pools::<T>::get(&pool_id);
+
+			ensure!(actual_new_value.is_some(), {
+				log::error!(target: LOG_TARGET, "Expected pool with id {:?} but found none", &pool_id);
+				sp_runtime::TryRuntimeError::Other("Pool not migrated")
+			});
+			ensure!(actual_new_value == Some(expected_new_value), {
+				log::error!(target: LOG_TARGET, "Pool with id {:?} contains unexpected data", &pool_id);
+				sp_runtime::TryRuntimeError::Other("Incorrect Pool Data")
+			});
+
+			ensure!(actual_new_value.unwrap().currencies_settings.allow_reset_team, {
+				log::error!(target: LOG_TARGET, "Pool with id {:?} has allow_reset_team = false", &pool_id);
+				sp_runtime::TryRuntimeError::Other(
+					"all migrated pools should have the allow_reset_team flag set to true",
+				)
+			});
+
+			Ok(())
+		})
+	}
+}
+
+pub type MigrateV0ToV1<T> = frame_support::migrations::VersionedMigration<
+	0, // The migration will only execute when the on-chain storage version is 0
+	1, // The on-chain storage version will be set to 1 after the migration is complete
+	InnerMigrateV0ToV1<T>,
+	crate::pallet::Pallet<T>,
+	<T as frame_system::Config>::DbWeight,
+>;
diff --git a/runtimes/peregrine/src/migrations/mod.rs b/runtimes/peregrine/src/migrations/mod.rs
index f6ca110fa..76762e1c0 100644
--- a/runtimes/peregrine/src/migrations/mod.rs
+++ b/runtimes/peregrine/src/migrations/mod.rs
@@ -32,6 +32,7 @@ pub type RuntimeMigrations = (
 	frame_support::migrations::RemovePallet<DmpPalletName, <Runtime as frame_system::Config>::DbWeight>,
 	frame_support::migrations::RemovePallet<DotNames, <Runtime as frame_system::Config>::DbWeight>,
 	frame_support::migrations::RemovePallet<UniqueLinking, <Runtime as frame_system::Config>::DbWeight>,
+	pallet_bonded_coins::migrations::v1::MigrateV0ToV1<Runtime>,
 );
 
 impl pallet_migration::Config for Runtime {