diff --git a/contracts/incentives/src/migrations/v2_1_0.rs b/contracts/incentives/src/migrations/v2_1_0.rs
index 2eb56b13..7e4a0d47 100644
--- a/contracts/incentives/src/migrations/v2_1_0.rs
+++ b/contracts/incentives/src/migrations/v2_1_0.rs
@@ -1,16 +1,28 @@
 use cosmwasm_std::{DepsMut, Response};
 use cw2::{assert_contract_version, set_contract_version};
+use mars_types::incentives::Config;
 
 use crate::{
     contract::{CONTRACT_NAME, CONTRACT_VERSION},
     error::ContractError,
+    state::CONFIG,
 };
 
 const FROM_VERSION: &str = "2.0.0";
 
 pub mod v1_state {
+    use cosmwasm_schema::cw_serde;
     use cosmwasm_std::{Addr, Decimal, DepsMut, Uint128};
-    use cw_storage_plus::Map;
+    use cw_storage_plus::{Item, Map};
+
+    #[cw_serde]
+    pub struct Config {
+        pub address_provider: Addr,
+        pub max_whitelisted_denoms: u8,
+        pub mars_denom: String,
+    }
+
+    pub const CONFIG: Item<Config> = Item::new("config");
 
     /// Don't care about the actual types, just use some dummy types to clear the storage
     pub const ASSET_INCENTIVES: Map<&str, String> = Map::new("incentives");
@@ -31,6 +43,15 @@ pub fn migrate(mut deps: DepsMut) -> Result<Response, ContractError> {
     // Make sure we're migrating the correct contract and from the correct version
     assert_contract_version(deps.storage, &format!("crates.io:{CONTRACT_NAME}"), FROM_VERSION)?;
 
+    // Migrate old config to new config
+    let old_config = v1_state::CONFIG.load(deps.storage)?;
+    let new_config = Config {
+        address_provider: old_config.address_provider,
+        max_whitelisted_denoms: old_config.max_whitelisted_denoms,
+    };
+    v1_state::CONFIG.remove(deps.storage);
+    CONFIG.save(deps.storage, &new_config)?;
+
     // Clear old state
     v1_state::clear_state(&mut deps);
 
diff --git a/contracts/incentives/tests/tests/test_migration_v2.rs b/contracts/incentives/tests/tests/test_migration_v2.rs
index b9533376..f67398e3 100644
--- a/contracts/incentives/tests/tests/test_migration_v2.rs
+++ b/contracts/incentives/tests/tests/test_migration_v2.rs
@@ -1,7 +1,10 @@
-use cosmwasm_std::{attr, testing::mock_env, Empty, Event};
+use cosmwasm_std::{attr, testing::mock_env, Addr, Empty, Event};
 use cw2::{ContractVersion, VersionError};
-use mars_incentives::{contract::migrate, ContractError};
+use mars_incentives::{
+    contract::migrate, migrations::v2_1_0::v1_state, state::CONFIG, ContractError,
+};
 use mars_testing::mock_dependencies;
+use mars_types::incentives::Config;
 
 #[test]
 fn wrong_contract_name() {
@@ -40,8 +43,28 @@ fn successful_migration() {
     let mut deps = mock_dependencies(&[]);
     cw2::set_contract_version(deps.as_mut().storage, "crates.io:mars-incentives", "2.0.0").unwrap();
 
+    v1_state::CONFIG
+        .save(
+            deps.as_mut().storage,
+            &v1_state::Config {
+                address_provider: Addr::unchecked("addr_provider".to_string()),
+                max_whitelisted_denoms: 15,
+                mars_denom: "mars".to_string(),
+            },
+        )
+        .unwrap();
+
     let res = migrate(deps.as_mut(), mock_env(), Empty {}).unwrap();
 
+    let config = CONFIG.load(deps.as_ref().storage).unwrap();
+    assert_eq!(
+        config,
+        Config {
+            address_provider: Addr::unchecked("addr_provider".to_string()),
+            max_whitelisted_denoms: 15,
+        }
+    );
+
     assert_eq!(res.messages, vec![]);
     assert_eq!(res.events, vec![] as Vec<Event>);
     assert!(res.data.is_none());