diff --git a/pallets/subtensor/src/lib.rs b/pallets/subtensor/src/lib.rs
index e595dc50a..e59375461 100644
--- a/pallets/subtensor/src/lib.rs
+++ b/pallets/subtensor/src/lib.rs
@@ -1445,39 +1445,7 @@ pub mod pallet {
 
         #[cfg(feature = "try-runtime")]
         fn try_state(_n: BlockNumberFor<T>) -> Result<(), sp_runtime::TryRuntimeError> {
-            use frame_support::traits::fungible::Inspect;
-            use sp_runtime::Saturating;
-
-            // Assert [`TotalStake`] accounting is correct
-            let mut total_staked = 0;
-            for stake in Stake::<T>::iter() {
-                total_staked.saturating_accrue(stake.2);
-            }
-            ensure!(
-                total_staked == TotalStake::<T>::get(),
-                "TotalStake does not match total staked"
-            );
-
-            // Assert [`TotalSubnetLocked`] accounting is correct
-            let mut total_subnet_locked = 0;
-            for (_, locked) in SubnetLocked::<T>::iter() {
-                total_subnet_locked.saturating_accrue(locked);
-            }
-            ensure!(
-                total_subnet_locked == TotalSubnetLocked::<T>::get(),
-                "TotalSubnetLocked does not match total subnet locked"
-            );
-
-            // Assert [`TotalIssuance`] accounting is correct
-            let currency_issuance = T::Currency::total_issuance();
-            ensure!(
-                TotalIssuance::<T>::get()
-                    == currency_issuance
-                        .saturating_add(total_staked)
-                        .saturating_add(total_subnet_locked),
-                "TotalIssuance accounting discrepancy"
-            );
-
+            Self::check_accounting_invariants()?;
             Ok(())
         }
     }
@@ -2321,42 +2289,6 @@ pub mod pallet {
         ) -> DispatchResult {
             Ok(())
         }
-
-        /// Set the [`TotalIssuance`] storage value to the total account balances issued + the
-        /// total amount staked + the total amount locked in subnets.
-        #[pallet::call_index(67)]
-        #[pallet::weight((
-            Weight::default()
-                .saturating_add(T::DbWeight::get().reads(3))
-                .saturating_add(T::DbWeight::get().writes(1)),
-            DispatchClass::Normal,
-            Pays::Yes
-        ))]
-        pub fn rejig_total_issuance(origin: OriginFor<T>) -> DispatchResult {
-            let who = ensure_signed_or_root(origin)?;
-
-            let total_account_balances =
-                <T::Currency as fungible::Inspect<T::AccountId>>::total_issuance();
-            let total_stake = TotalStake::<T>::get();
-            let total_subnet_locked = TotalSubnetLocked::<T>::get();
-
-            let prev_total_issuance = TotalIssuance::<T>::get();
-            let new_total_issuance = total_account_balances
-                .saturating_add(total_stake)
-                .saturating_add(total_subnet_locked);
-            TotalIssuance::<T>::put(new_total_issuance);
-
-            Self::deposit_event(Event::TotalIssuanceRejigged {
-                who,
-                prev_total_issuance,
-                new_total_issuance,
-                total_stake,
-                total_account_balances,
-                total_subnet_locked,
-            });
-
-            Ok(())
-        }
     }
 
     // ---- Subtensor helper functions.
@@ -2402,6 +2334,46 @@ pub mod pallet {
             }
             true
         }
+
+        #[cfg(feature = "try-runtime")]
+        /// Assets [`TotalStake`], [`TotalSubnetLocked`], and [`TotalIssuance`] accounting invariants
+        /// are correct.
+        pub fn check_accounting_invariants() -> Result<(), sp_runtime::TryRuntimeError> {
+            use frame_support::traits::fungible::Inspect;
+            use sp_runtime::Saturating;
+
+            // Assert [`TotalStake`] accounting is correct
+            let mut total_staked = 0;
+            for stake in Stake::<T>::iter() {
+                total_staked.saturating_accrue(stake.2);
+            }
+            ensure!(
+                total_staked == TotalStake::<T>::get(),
+                "TotalStake does not match total staked"
+            );
+
+            // Assert [`TotalSubnetLocked`] accounting is correct
+            let mut total_subnet_locked = 0;
+            for (_, locked) in SubnetLocked::<T>::iter() {
+                total_subnet_locked.saturating_accrue(locked);
+            }
+            ensure!(
+                total_subnet_locked == TotalSubnetLocked::<T>::get(),
+                "TotalSubnetLocked does not match total subnet locked"
+            );
+
+            // Assert [`TotalIssuance`] accounting is correct
+            let currency_issuance = T::Currency::total_issuance();
+            ensure!(
+                TotalIssuance::<T>::get()
+                    == currency_issuance
+                        .saturating_add(total_staked)
+                        .saturating_add(total_subnet_locked),
+                "TotalIssuance accounting discrepancy"
+            );
+
+            Ok(())
+        }
     }
 }
 
diff --git a/runtime/src/lib.rs b/runtime/src/lib.rs
index 67d711e20..a2651a464 100644
--- a/runtime/src/lib.rs
+++ b/runtime/src/lib.rs
@@ -1297,7 +1297,7 @@ pub type SignedExtra = (
     pallet_commitments::CommitmentsSignedExtension<Runtime>,
 );
 
-type Migrations = pallet_grandpa::migrations::MigrateV4ToV5<Runtime>;
+type Migrations = migrations::initialise_ti::Migration;
 
 // Unchecked extrinsic type as expected by this runtime.
 pub type UncheckedExtrinsic =
diff --git a/runtime/src/migrations/initialise_ti.rs b/runtime/src/migrations/initialise_ti.rs
new file mode 100644
index 000000000..e480f9665
--- /dev/null
+++ b/runtime/src/migrations/initialise_ti.rs
@@ -0,0 +1,46 @@
+use frame_support::traits::{fungible, OnRuntimeUpgrade};
+
+use crate::*;
+
+pub struct Migration;
+
+impl OnRuntimeUpgrade for Migration {
+    fn on_runtime_upgrade() -> Weight {
+        // First, we need to initialize the TotalSubnetLocked
+        let subnets_len = pallet_subtensor::SubnetLocked::<Runtime>::iter().count() as u64;
+        let total_subnet_locked: u64 = pallet_subtensor::SubnetLocked::<Runtime>::iter()
+            .fold(0, |acc, (_, v)| acc.saturating_add(v));
+        pallet_subtensor::TotalSubnetLocked::<Runtime>::put(total_subnet_locked);
+
+        // Now, we can rejig the total issuance
+        let total_account_balances =
+            <<Runtime as pallet_subtensor::Config>::Currency as fungible::Inspect<
+                <Runtime as frame_system::Config>::AccountId,
+            >>::total_issuance();
+        let total_stake = pallet_subtensor::TotalStake::<Runtime>::get();
+        let total_subnet_locked = pallet_subtensor::TotalSubnetLocked::<Runtime>::get();
+
+        let prev_total_issuance = pallet_subtensor::TotalIssuance::<Runtime>::get();
+        let new_total_issuance = total_account_balances
+            .saturating_add(total_stake)
+            .saturating_add(total_subnet_locked);
+        pallet_subtensor::TotalIssuance::<Runtime>::put(new_total_issuance);
+
+        log::info!(
+            "Subtensor Pallet TI Rejigged: previously: {:?}, new: {:?}",
+            prev_total_issuance,
+            new_total_issuance
+        );
+
+        <Runtime as frame_system::Config>::DbWeight::get()
+            .reads_writes(subnets_len.saturating_add(5), 1)
+    }
+
+    #[cfg(feature = "try-runtime")]
+    fn post_upgrade(_state: Vec<u8>) -> Result<(), sp_runtime::TryRuntimeError> {
+        // These are usually checked anyway by try-runtime-cli, but just in case check them again
+        // explicitly here.
+        pallet_subtensor::Pallet::<Runtime>::check_accounting_invariants()?;
+        Ok(())
+    }
+}
diff --git a/runtime/src/migrations/mod.rs b/runtime/src/migrations/mod.rs
index ecc48efcd..ddd5359a5 100644
--- a/runtime/src/migrations/mod.rs
+++ b/runtime/src/migrations/mod.rs
@@ -1 +1,3 @@
 //! Export migrations from here.
+
+pub mod initialise_ti;