diff --git a/Cargo.lock b/Cargo.lock
index 3aba7b2c..bed90168 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -7329,6 +7329,7 @@ dependencies = [
  "parity-scale-codec",
  "scale-info",
  "serai-coins-primitives",
+ "serai-genesis-liquidity-primitives",
  "serai-in-instructions-primitives",
  "serai-primitives",
  "serai-signals-primitives",
@@ -7527,6 +7528,9 @@ dependencies = [
  "serai-dex-pallet",
  "serai-genesis-liquidity-primitives",
  "serai-primitives",
+ "serai-validator-sets-primitives",
+ "sp-application-crypto",
+ "sp-core",
  "sp-std",
 ]
 
@@ -7534,7 +7538,14 @@ dependencies = [
 name = "serai-genesis-liquidity-primitives"
 version = "0.1.0"
 dependencies = [
+ "borsh",
+ "parity-scale-codec",
+ "scale-info",
  "serai-primitives",
+ "serai-validator-sets-primitives",
+ "serde",
+ "sp-std",
+ "zeroize",
 ]
 
 [[package]]
diff --git a/substrate/abi/Cargo.toml b/substrate/abi/Cargo.toml
index 04350486..45e809b5 100644
--- a/substrate/abi/Cargo.toml
+++ b/substrate/abi/Cargo.toml
@@ -31,6 +31,7 @@ sp-consensus-grandpa = { git = "https://github.com/serai-dex/substrate" }
 serai-primitives = { path = "../primitives", version = "0.1" }
 serai-coins-primitives = { path = "../coins/primitives", version = "0.1" }
 serai-validator-sets-primitives = { path = "../validator-sets/primitives", version = "0.1" }
+serai-genesis-liquidity-primitives = { path = "../genesis-liquidity/primitives", version = "0.1" }
 serai-in-instructions-primitives = { path = "../in-instructions/primitives", version = "0.1" }
 serai-signals-primitives = { path = "../signals/primitives", version = "0.1" }
 
@@ -42,6 +43,7 @@ borsh = [
   "serai-primitives/borsh",
   "serai-coins-primitives/borsh",
   "serai-validator-sets-primitives/borsh",
+  "serai-genesis-liquidity-primitives/borsh",
   "serai-in-instructions-primitives/borsh",
   "serai-signals-primitives/borsh",
 ]
@@ -50,6 +52,7 @@ serde = [
   "serai-primitives/serde",
   "serai-coins-primitives/serde",
   "serai-validator-sets-primitives/serde",
+  "serai-genesis-liquidity-primitives/serde",
   "serai-in-instructions-primitives/serde",
   "serai-signals-primitives/serde",
 ]
diff --git a/substrate/abi/src/genesis_liquidity.rs b/substrate/abi/src/genesis_liquidity.rs
index dda30023..7837c2b1 100644
--- a/substrate/abi/src/genesis_liquidity.rs
+++ b/substrate/abi/src/genesis_liquidity.rs
@@ -1,10 +1,12 @@
 use serai_primitives::*;
+use serai_genesis_liquidity_primitives::*;
 
 #[derive(Clone, PartialEq, Eq, Debug, scale::Encode, scale::Decode, scale_info::TypeInfo)]
 #[cfg_attr(feature = "borsh", derive(borsh::BorshSerialize, borsh::BorshDeserialize))]
 #[cfg_attr(feature = "serde", derive(serde::Serialize, serde::Deserialize))]
 pub enum Call {
   remove_coin_liquidity { balance: Balance },
+  set_initial_price { prices: Prices },
 }
 
 #[derive(Clone, PartialEq, Eq, Debug, scale::Encode, scale::Decode, scale_info::TypeInfo)]
diff --git a/substrate/genesis-liquidity/pallet/Cargo.toml b/substrate/genesis-liquidity/pallet/Cargo.toml
index 873261d9..456a3850 100644
--- a/substrate/genesis-liquidity/pallet/Cargo.toml
+++ b/substrate/genesis-liquidity/pallet/Cargo.toml
@@ -27,12 +27,15 @@ frame-system = { git = "https://github.com/serai-dex/substrate", default-feature
 frame-support = { git = "https://github.com/serai-dex/substrate", default-features = false }
 
 sp-std = { git = "https://github.com/serai-dex/substrate", default-features = false }
+sp-core = { git = "https://github.com/serai-dex/substrate", default-features = false }
+sp-application-crypto = { git = "https://github.com/serai-dex/substrate", default-features = false }
 
 dex-pallet = { package = "serai-dex-pallet", path = "../../dex/pallet", default-features = false }
 coins-pallet = { package = "serai-coins-pallet", path = "../../coins/pallet", default-features = false }
 
 serai-primitives = { path = "../../primitives", default-features = false }
 genesis-liquidity-primitives = { package = "serai-genesis-liquidity-primitives", path = "../primitives", default-features = false }
+validator-sets-primitives = { package = "serai-validator-sets-primitives", path = "../../validator-sets/primitives", default-features = false }
 
 [features]
 std = [
@@ -43,12 +46,15 @@ std = [
   "frame-support/std",
 
   "sp-std/std",
+  "sp-core/std",
+  "sp-application-crypto/std",
 
   "coins-pallet/std",
   "dex-pallet/std",
 
   "serai-primitives/std",
   "genesis-liquidity-primitives/std",
+  "validator-sets-primitives/std",
 ]
 
-default = ["std"]
\ No newline at end of file
+default = ["std"]
diff --git a/substrate/genesis-liquidity/pallet/src/lib.rs b/substrate/genesis-liquidity/pallet/src/lib.rs
index 0ee8514c..64207127 100644
--- a/substrate/genesis-liquidity/pallet/src/lib.rs
+++ b/substrate/genesis-liquidity/pallet/src/lib.rs
@@ -5,14 +5,20 @@
 pub mod pallet {
   use super::*;
   use frame_system::{pallet_prelude::*, RawOrigin};
-  use frame_support::{pallet_prelude::*, sp_runtime::SaturatedConversion};
+  use frame_support::{
+    pallet_prelude::*,
+    sp_runtime::{self, SaturatedConversion},
+  };
 
-  use sp_std::{vec, collections::btree_map::BTreeMap};
+  use sp_std::{vec, vec::Vec, collections::btree_map::BTreeMap};
+  use sp_core::sr25519::Signature;
+  use sp_application_crypto::RuntimePublic;
 
   use dex_pallet::{Pallet as Dex, Config as DexConfig};
   use coins_pallet::{Config as CoinsConfig, Pallet as Coins, AllowMint};
 
   use serai_primitives::*;
+  use validator_sets_primitives::{ValidatorSet, Session, musig_key};
   pub use genesis_liquidity_primitives as primitives;
   use primitives::*;
 
@@ -26,6 +32,19 @@ pub mod pallet {
     type RuntimeEvent: From<Event<Self>> + IsType<<Self as frame_system::Config>::RuntimeEvent>;
   }
 
+  #[pallet::genesis_config]
+  #[derive(Clone, PartialEq, Eq, Debug, Encode, Decode)]
+  pub struct GenesisConfig<T: Config> {
+    /// List of participants to place in the initial validator sets.
+    pub participants: Vec<T::AccountId>,
+  }
+
+  impl<T: Config> Default for GenesisConfig<T> {
+    fn default() -> Self {
+      GenesisConfig { participants: Default::default() }
+    }
+  }
+
   #[pallet::error]
   pub enum Error<T> {
     GenesisPeriodEnded,
@@ -58,6 +77,20 @@ pub mod pallet {
   pub(crate) type EconomicSecurityReached<T: Config> =
     StorageMap<_, Identity, NetworkId, BlockNumberFor<T>, ValueQuery>;
 
+  #[pallet::storage]
+  pub(crate) type Participants<T: Config> =
+    StorageMap<_, Identity, NetworkId, BoundedVec<PublicKey, ConstU32<150>>, ValueQuery>;
+
+  #[pallet::storage]
+  pub(crate) type Oracle<T: Config> = StorageMap<_, Identity, Coin, u64, ValueQuery>;
+
+  #[pallet::genesis_build]
+  impl<T: Config> BuildGenesisConfig for GenesisConfig<T> {
+    fn build(&self) {
+      Participants::<T>::set(NetworkId::Serai, self.participants.clone().try_into().unwrap());
+    }
+  }
+
   #[pallet::hooks]
   impl<T: Config> Hooks<BlockNumberFor<T>> for Pallet<T> {
     fn on_finalize(n: BlockNumberFor<T>) {
@@ -75,9 +108,14 @@ pub mod pallet {
         let mut pool_values = BTreeMap::new();
         let mut total_value: u64 = 0;
         for coin in COINS {
-          // TODO: following line is just a place holder till we get the actual coin value
-          // in terms of btc.
-          let value = Dex::<T>::security_oracle_value(coin).unwrap_or(Amount(0)).0;
+          if coin == Coin::Serai {
+            continue;
+          }
+
+          // initial coin value in terms of btc
+          let value = Oracle::<T>::get(coin);
+
+          // get the pool & individual address values
           account_values.insert(coin, vec![]);
           let mut pool_amount: u64 = 0;
           for (account, amount) in Liquidity::<T>::iter_prefix(coin) {
@@ -265,6 +303,50 @@ pub mod pallet {
       Self::deposit_event(Event::GenesisLiquidityRemoved { by: account.into(), balance });
       Ok(())
     }
+
+    /// A call to submit the initial coi values.
+    #[pallet::call_index(1)]
+    #[pallet::weight((0, DispatchClass::Operational))] // TODO
+    pub fn set_initial_price(
+      origin: OriginFor<T>,
+      prices: Prices,
+      _signature: Signature,
+    ) -> DispatchResult {
+      ensure_none(origin)?;
+
+      // set the prices
+      Oracle::<T>::set(Coin::Bitcoin, prices.bitcoin);
+      Oracle::<T>::set(Coin::Monero, prices.monero);
+      Oracle::<T>::set(Coin::Ether, prices.ethereum);
+      Oracle::<T>::set(Coin::Dai, prices.dai);
+      Ok(())
+    }
+  }
+
+  #[pallet::validate_unsigned]
+  impl<T: Config> ValidateUnsigned for Pallet<T> {
+    type Call = Call<T>;
+
+    fn validate_unsigned(_: TransactionSource, call: &Self::Call) -> TransactionValidity {
+      match call {
+        Call::set_initial_price { ref prices, ref signature } => {
+          let set = ValidatorSet { network: NetworkId::Serai, session: Session(0) };
+          let signers = Participants::<T>::get(NetworkId::Serai);
+
+          if !musig_key(set, &signers).verify(&set_initial_price_message(&set, prices), signature) {
+            Err(InvalidTransaction::BadProof)?;
+          }
+
+          ValidTransaction::with_tag_prefix("GenesisLiquidity")
+            .and_provides((0, set))
+            .longevity(u64::MAX)
+            .propagate(true)
+            .build()
+        }
+        Call::remove_coin_liquidity { .. } => Err(InvalidTransaction::Call)?,
+        Call::__Ignore(_, _) => unreachable!(),
+      }
+    }
   }
 }
 
diff --git a/substrate/genesis-liquidity/primitives/Cargo.toml b/substrate/genesis-liquidity/primitives/Cargo.toml
index 1e10e840..a3911b81 100644
--- a/substrate/genesis-liquidity/primitives/Cargo.toml
+++ b/substrate/genesis-liquidity/primitives/Cargo.toml
@@ -16,10 +16,19 @@ rustdoc-args = ["--cfg", "docsrs"]
 workspace = true
 
 [dependencies]
+zeroize = { version = "^1.5", features = ["derive"], optional = true }
+
+borsh = { version = "1", default-features = false, features = ["derive", "de_strict_order"], optional = true }
+serde = { version = "1", default-features = false, features = ["derive", "alloc"], optional = true }
+
+scale = { package = "parity-scale-codec", version = "3", default-features = false, features = ["derive"] }
+scale-info = { version = "2", default-features = false, features = ["derive"] }
+
+sp-std = { git = "https://github.com/serai-dex/substrate", default-features = false }
+
 serai-primitives = { path = "../../primitives", default-features = false }
+validator-sets-primitives = { package = "serai-validator-sets-primitives", path = "../../validator-sets/primitives", default-features = false }
 
 [features]
-std = [
-  "serai-primitives/std",
-]
+std = ["serai-primitives/std", "validator-sets-primitives/std", "sp-std/std"]
 default = ["std"]
diff --git a/substrate/genesis-liquidity/primitives/src/lib.rs b/substrate/genesis-liquidity/primitives/src/lib.rs
index 0ce75824..9846c113 100644
--- a/substrate/genesis-liquidity/primitives/src/lib.rs
+++ b/substrate/genesis-liquidity/primitives/src/lib.rs
@@ -2,7 +2,21 @@
 #![cfg_attr(docsrs, feature(doc_auto_cfg))]
 #![cfg_attr(not(feature = "std"), no_std)]
 
+#[cfg(feature = "std")]
+use zeroize::Zeroize;
+
+#[cfg(feature = "borsh")]
+use borsh::{BorshSerialize, BorshDeserialize};
+#[cfg(feature = "serde")]
+use serde::{Serialize, Deserialize};
+
+use sp_std::vec::Vec;
+
+use scale::{Encode, Decode, MaxEncodedLen};
+use scale_info::TypeInfo;
+
 use serai_primitives::*;
+use validator_sets_primitives::ValidatorSet;
 
 // amount of blocks in 30 days for 6s per block.
 pub const BLOCKS_PER_MONTH: u32 = 10 * 60 * 24 * 30;
@@ -15,3 +29,19 @@ pub const GENESIS_SRI: u64 = 100_000_000 * 10_u64.pow(8);
 
 // This is the account to hold and manage the genesis liquidity.
 pub const GENESIS_LIQUIDITY_ACCOUNT: SeraiAddress = system_address(b"Genesis-liquidity-account");
+
+#[derive(Clone, PartialEq, Eq, Debug, Encode, Decode, MaxEncodedLen, TypeInfo)]
+#[cfg_attr(feature = "std", derive(Zeroize))]
+#[cfg_attr(feature = "borsh", derive(BorshSerialize, BorshDeserialize))]
+#[cfg_attr(feature = "serde", derive(Serialize, Deserialize))]
+pub struct Prices {
+  pub bitcoin: u64,
+  pub monero: u64,
+  pub ethereum: u64,
+  pub dai: u64,
+}
+
+/// The message for the set_initial_price signature.
+pub fn set_initial_price_message(set: &ValidatorSet, prices: &Prices) -> Vec<u8> {
+  (b"GenesisLiquidity-set_initial_price", set, prices).encode()
+}
diff --git a/substrate/node/src/chain_spec.rs b/substrate/node/src/chain_spec.rs
index 6fa8d6c3..428f929c 100644
--- a/substrate/node/src/chain_spec.rs
+++ b/substrate/node/src/chain_spec.rs
@@ -8,6 +8,7 @@ use sc_service::ChainType;
 use serai_runtime::{
   primitives::*, WASM_BINARY, BABE_GENESIS_EPOCH_CONFIG, RuntimeGenesisConfig, SystemConfig,
   CoinsConfig, DexConfig, ValidatorSetsConfig, SignalsConfig, BabeConfig, GrandpaConfig,
+  GenesisLiquidityConfig,
 };
 
 pub type ChainSpec = sc_service::GenericChainSpec<RuntimeGenesisConfig>;
@@ -60,6 +61,7 @@ fn devnet_genesis(
         .collect(),
       participants: validators.clone(),
     },
+    genesis_liquidity: GenesisLiquidityConfig { participants: validators.clone() },
     signals: SignalsConfig::default(),
     babe: BabeConfig {
       authorities: validators.iter().map(|validator| ((*validator).into(), 1)).collect(),
@@ -111,6 +113,7 @@ fn testnet_genesis(wasm_binary: &[u8], validators: Vec<&'static str>) -> Runtime
         .collect(),
       participants: validators.clone(),
     },
+    genesis_liquidity: GenesisLiquidityConfig { participants: validators.clone() },
     signals: SignalsConfig::default(),
     babe: BabeConfig {
       authorities: validators.iter().map(|validator| ((*validator).into(), 1)).collect(),