diff --git a/contracts/ecash/src/contract/mod.rs b/contracts/ecash/src/contract/mod.rs
index a201ade356..de5db33e2e 100644
--- a/contracts/ecash/src/contract/mod.rs
+++ b/contracts/ecash/src/contract/mod.rs
@@ -30,6 +30,7 @@ use sylvia::{contract, entry_points};
 
 mod helpers;
 
+mod queued_migrations;
 #[cfg(test)]
 mod test;
 
@@ -105,7 +106,6 @@ impl NymEcashContract<'_> {
             &Config {
                 group_addr,
                 holding_account,
-                redemption_gateway_share: Decimal::percent(5),
                 deposit_amount,
             },
         )?;
@@ -447,6 +447,8 @@ impl NymEcashContract<'_> {
         set_build_information!(ctx.deps.storage)?;
         cw2::ensure_from_older_version(ctx.deps.storage, CONTRACT_NAME, CONTRACT_VERSION)?;
 
+        queued_migrations::remove_redemption_gateway_share(ctx.deps)?;
+
         Ok(Response::new())
     }
 }
diff --git a/contracts/ecash/src/contract/queued_migrations.rs b/contracts/ecash/src/contract/queued_migrations.rs
new file mode 100644
index 0000000000..a479330aca
--- /dev/null
+++ b/contracts/ecash/src/contract/queued_migrations.rs
@@ -0,0 +1,42 @@
+// Copyright 2024 - Nym Technologies SA <contact@nymtech.net>
+// SPDX-License-Identifier: Apache-2.0
+
+use crate::contract::NymEcashContract;
+use crate::helpers::Config;
+use cosmwasm_std::{Addr, Coin, Decimal, DepsMut};
+use cw4::Cw4Contract;
+use cw_storage_plus::Item;
+use nym_ecash_contract_common::EcashContractError;
+use serde::{Deserialize, Serialize};
+
+pub fn remove_redemption_gateway_share(deps: DepsMut) -> Result<(), EcashContractError> {
+    #[derive(Serialize, Deserialize)]
+    struct OldConfig {
+        group_addr: Cw4Contract,
+        holding_account: Addr,
+
+        redemption_gateway_share: Decimal,
+        deposit_amount: Coin,
+    }
+
+    impl From<OldConfig> for Config {
+        fn from(config: OldConfig) -> Self {
+            Config {
+                group_addr: config.group_addr,
+                holding_account: config.holding_account,
+                deposit_amount: config.deposit_amount,
+            }
+        }
+    }
+
+    const OLD_CONFIG: Item<OldConfig> = Item::new("config");
+
+    let old_config = OLD_CONFIG.load(deps.storage)?;
+    let new_config = old_config.into();
+
+    NymEcashContract::new()
+        .config
+        .save(deps.storage, &new_config)?;
+
+    Ok(())
+}
diff --git a/contracts/ecash/src/helpers.rs b/contracts/ecash/src/helpers.rs
index 650dc82f5c..b19b1e646d 100644
--- a/contracts/ecash/src/helpers.rs
+++ b/contracts/ecash/src/helpers.rs
@@ -3,8 +3,7 @@
 
 use crate::constants::{BLACKLIST_PROPOSAL_REPLY_ID, REDEMPTION_PROPOSAL_REPLY_ID};
 use cosmwasm_std::{
-    to_binary, Addr, Coin, CosmosMsg, Decimal, Reply, StdError, StdResult, SubMsg, SubMsgResult,
-    WasmMsg,
+    to_binary, Addr, Coin, CosmosMsg, Reply, StdError, StdResult, SubMsg, SubMsgResult, WasmMsg,
 };
 use cw4::Cw4Contract;
 use nym_contracts_common::events::try_find_attribute;
@@ -22,8 +21,6 @@ pub(crate) const CONTRACT_VERSION: &str = env!("CARGO_PKG_VERSION");
 pub struct Config {
     pub group_addr: Cw4Contract,
     pub holding_account: Addr,
-
-    pub redemption_gateway_share: Decimal,
     pub deposit_amount: Coin,
 }