diff --git a/CHANGELOG.md b/CHANGELOG.md
index 81085858f8b..49dad77fb83 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -41,6 +41,16 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Features
 
+* (cli) [#12028](https://github.com/cosmos/cosmos-sdk/pull/12028) Add the `tendermint key-migrate` to perform Tendermint v0.35 DB key migration.
+
+### Bug Fixes
+
+* (migrations) [#12028](https://github.com/cosmos/cosmos-sdk/pull/12028) Fix v0.45->v0.46 in-place store migrations.
+
+## [v0.46.0-rc1](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.46.0-rc1) - 2022-05-23
+
+### Features
+
 * (types) [#11985](https://github.com/cosmos/cosmos-sdk/pull/11985) Add a `Priority` field on `sdk.Context`, which represents the CheckTx priority field. It is only used during CheckTx.
 * (gRPC) [#11889](https://github.com/cosmos/cosmos-sdk/pull/11889) Support custom read and write gRPC options in `app.toml`. See `max-recv-msg-size` and `max-send-msg-size` respectively.
 * (cli) [\#11738](https://github.com/cosmos/cosmos-sdk/pull/11738) Add `tx auth multi-sign` as alias of `tx auth multisign` for consistency with `multi-send`.
diff --git a/server/tm_cmds.go b/server/tm_cmds.go
index 0f243e5a8f3..6cc63850ff7 100644
--- a/server/tm_cmds.go
+++ b/server/tm_cmds.go
@@ -3,10 +3,14 @@ package server
 // DONTCOVER
 
 import (
+	"context"
 	"fmt"
 
 	"github.com/spf13/cobra"
+	cfg "github.com/tendermint/tendermint/config"
 	pvm "github.com/tendermint/tendermint/privval"
+	"github.com/tendermint/tendermint/scripts/keymigrate"
+	"github.com/tendermint/tendermint/scripts/scmigrate"
 	tversion "github.com/tendermint/tendermint/version"
 	"sigs.k8s.io/yaml"
 
@@ -123,3 +127,67 @@ func VersionCmd() *cobra.Command {
 		},
 	}
 }
+
+// makeKeyMigrateCmd is ported from tendermint's key-migrate command, but
+// uses the SDK's own server.Context.
+// ref: https://github.com/tendermint/tendermint/blob/master/UPGRADING.md#database-key-format-changes
+func makeKeyMigrateCmd() *cobra.Command {
+	cmd := &cobra.Command{
+		Use:   "key-migrate",
+		Short: "Run Tendermint database key migration",
+		RunE: func(cmd *cobra.Command, args []string) error {
+			ctx, cancel := context.WithCancel(cmd.Context())
+			defer cancel()
+
+			serverCtx := GetServerContextFromCmd(cmd)
+			config := serverCtx.Config
+
+			contexts := []string{
+				// this is ordered to put the
+				// (presumably) biggest/most important
+				// subsets first.
+				"blockstore",
+				"state",
+				"peerstore",
+				"tx_index",
+				"evidence",
+				"light",
+			}
+
+			for idx, dbctx := range contexts {
+				serverCtx.Logger.Info("beginning a key migration",
+					"dbctx", dbctx,
+					"num", idx+1,
+					"total", len(contexts),
+				)
+
+				db, err := cfg.DefaultDBProvider(&cfg.DBContext{
+					ID:     dbctx,
+					Config: config,
+				})
+
+				if err != nil {
+					return fmt.Errorf("constructing database handle: %w", err)
+				}
+
+				if err = keymigrate.Migrate(ctx, db); err != nil {
+					return fmt.Errorf("running migration for context %q: %w",
+						dbctx, err)
+				}
+
+				if dbctx == "blockstore" {
+					if err := scmigrate.Migrate(ctx, db); err != nil {
+						return fmt.Errorf("running seen commit migration: %w", err)
+
+					}
+				}
+			}
+
+			serverCtx.Logger.Info("completed database migration successfully")
+
+			return nil
+		},
+	}
+
+	return cmd
+}
diff --git a/server/util.go b/server/util.go
index ca7d4c63cfd..bea9e16bfc9 100644
--- a/server/util.go
+++ b/server/util.go
@@ -283,6 +283,7 @@ func AddCommands(rootCmd *cobra.Command, defaultNodeHome string, appCreator type
 		tmcmd.ResetAllCmd,
 		tmcmd.ResetStateCmd,
 		tmcmd.InspectCmd,
+		makeKeyMigrateCmd(),
 	)
 
 	startCmd := StartCmd(appCreator, defaultNodeHome)
diff --git a/simapp/app.go b/simapp/app.go
index cb50d352bdd..e3bc604dd00 100644
--- a/simapp/app.go
+++ b/simapp/app.go
@@ -321,9 +321,6 @@ func NewSimApp(
 	// set the governance module account as the authority for conducting upgrades
 	app.UpgradeKeeper = upgradekeeper.NewKeeper(skipUpgradeHeights, keys[upgradetypes.StoreKey], appCodec, homePath, app.BaseApp, authtypes.NewModuleAddress(govtypes.ModuleName).String())
 
-	// RegisterUpgradeHandlers is used for registering any on-chain upgrades
-	app.RegisterUpgradeHandlers()
-
 	app.NFTKeeper = nftkeeper.NewKeeper(keys[nftkeeper.StoreKey], appCodec, app.AccountKeeper, app.BankKeeper)
 
 	// create evidence keeper with router
@@ -408,6 +405,10 @@ func NewSimApp(
 	app.configurator = module.NewConfigurator(app.appCodec, app.MsgServiceRouter(), app.GRPCQueryRouter())
 	app.mm.RegisterServices(app.configurator)
 
+	// RegisterUpgradeHandlers is used for registering any on-chain upgrades.
+	// Make sure it's called after `app.mm` and `app.configurator` are set.
+	app.RegisterUpgradeHandlers()
+
 	// add test gRPC service for testing gRPC queries in isolation
 	testdata_pulsar.RegisterQueryServer(app.GRPCQueryRouter(), testdata_pulsar.QueryImpl{})
 
diff --git a/simapp/upgrades.go b/simapp/upgrades.go
index 2a62ae5c881..bcdc087665a 100644
--- a/simapp/upgrades.go
+++ b/simapp/upgrades.go
@@ -17,6 +17,7 @@ const UpgradeName = "v045-to-v046"
 
 func (app SimApp) RegisterUpgradeHandlers() {
 	app.UpgradeKeeper.SetUpgradeHandler(UpgradeName,
+<<<<<<< HEAD
 		func(ctx sdk.Context, plan upgradetypes.Plan, _ module.VersionMap) (module.VersionMap, error) {
 			// We set fromVersion to 1 to avoid running InitGenesis for modules for
 			// in-store migrations.
@@ -47,6 +48,10 @@ func (app SimApp) RegisterUpgradeHandlers() {
 			}
 
 			return app.mm.RunMigrations(ctx, app.configurator, fromVM)
+=======
+		func(ctx sdk.Context, plan upgradetypes.Plan, fromVM module.VersionMap) (module.VersionMap, error) {
+			return app.ModuleManager.RunMigrations(ctx, app.Configurator(), fromVM)
+>>>>>>> ca0b8f96b (fix: Fix v0.45->v0.46 migration (#12028))
 		})
 
 	upgradeInfo, err := app.UpgradeKeeper.ReadUpgradeInfoFromDisk()
diff --git a/x/staking/migrations/v046/store.go b/x/staking/migrations/v046/store.go
index 20825ec2602..e2be22cbb1f 100644
--- a/x/staking/migrations/v046/store.go
+++ b/x/staking/migrations/v046/store.go
@@ -8,7 +8,7 @@ import (
 	"github.com/cosmos/cosmos-sdk/x/staking/types"
 )
 
-// MigrateStore performs in-place store migrations from v0.43/v0.44 to v0.45.
+// MigrateStore performs in-place store migrations from v0.43/v0.44/v0.45 to v0.46.
 // The migration includes:
 //
 // - Setting the MinCommissionRate param in the paramstore
@@ -19,6 +19,10 @@ func MigrateStore(ctx sdk.Context, storeKey storetypes.StoreKey, cdc codec.Binar
 }
 
 func migrateParamsStore(ctx sdk.Context, paramstore paramtypes.Subspace) {
-	paramstore.WithKeyTable(types.ParamKeyTable())
-	paramstore.Set(ctx, types.KeyMinCommissionRate, types.DefaultMinCommissionRate)
+	if paramstore.HasKeyTable() {
+		paramstore.Set(ctx, types.KeyMinCommissionRate, types.DefaultMinCommissionRate)
+	} else {
+		paramstore.WithKeyTable(types.ParamKeyTable())
+		paramstore.Set(ctx, types.KeyMinCommissionRate, types.DefaultMinCommissionRate)
+	}
 }