diff --git a/server/v2/config.go b/server/v2/config.go
index 7ce73fe88a9a..69aa25c3bdad 100644
--- a/server/v2/config.go
+++ b/server/v2/config.go
@@ -7,6 +7,30 @@ import (
 	"github.com/spf13/viper"
 )
 
+// ServerConfig defines configuration for the main server.
+type ServerConfig struct {
+	MinGasPrices string `mapstructure:"minimum-gas-prices" toml:"minimum-gas-prices" comment:"minimum-gas-prices defines the price which a validator is willing to accept for processing a transaction. A transaction's fees must meet the minimum of any denomination specified in this config (e.g. 0.25token1;0.0001token2)."`
+}
+
+// ValidateBasic returns an error if min-gas-prices field is empty in Config. Otherwise, it returns nil.
+func (c ServerConfig) ValidateBasic() error {
+	if c.MinGasPrices == "" {
+		return fmt.Errorf("error in app.toml: set minimum-gas-prices in app.toml or flag or env variable")
+	}
+
+	return nil
+}
+
+// DefaultMainServerConfig returns the default config of main server component
+func DefaultMainServerConfig() ServerConfig {
+	return ServerConfig{}
+}
+
+// OverwriteDefaultConfig overwrites main server config with given config
+func (s *Server[T]) OverwriteDefaultConfig(cfg ServerConfig) {
+	s.config = cfg
+}
+
 // ReadConfig returns a viper instance of the config file
 func ReadConfig(configPath string) (*viper.Viper, error) {
 	v := viper.New()
diff --git a/server/v2/flags.go b/server/v2/flags.go
index a86154eb769c..6c253d419ab0 100644
--- a/server/v2/flags.go
+++ b/server/v2/flags.go
@@ -1,6 +1,17 @@
 // Package serverv2 defines constants for server configuration flags and output formats.
 package serverv2
 
+import "fmt"
+
+// start flags are prefixed with the server name
+// as the config in prefixed with the server name
+// this allows viper to properly bind the flags
+func prefix(f string) string {
+	return fmt.Sprintf("%s.%s", serverName, f)
+}
+
+var FlagMinGasPrices = prefix("minimum-gas-prices")
+
 const (
 	// FlagHome specifies the home directory flag.
 	FlagHome = "home"
diff --git a/server/v2/server.go b/server/v2/server.go
index 6e1a4e7114db..2221358f5bae 100644
--- a/server/v2/server.go
+++ b/server/v2/server.go
@@ -56,11 +56,16 @@ type CLIConfig struct {
 	Txs []*cobra.Command
 }
 
+const (
+	serverName = "server"
+)
+
 var _ ServerComponent[transaction.Tx] = (*Server[transaction.Tx])(nil)
 
 type Server[T transaction.Tx] struct {
 	logger     log.Logger
 	components []ServerComponent[T]
+	config     ServerConfig
 }
 
 func NewServer[T transaction.Tx](
@@ -74,11 +79,16 @@ func NewServer[T transaction.Tx](
 }
 
 func (s *Server[T]) Name() string {
-	return "server"
+	return serverName
 }
 
 // Start starts all components concurrently.
 func (s *Server[T]) Start(ctx context.Context) error {
+	// validate main server config
+	if err := s.config.ValidateBasic(); err != nil {
+		return err
+	}
+
 	s.logger.Info("starting servers...")
 
 	g, ctx := errgroup.WithContext(ctx)
@@ -151,9 +161,19 @@ func (s *Server[T]) CLICommands() CLIConfig {
 	return commands
 }
 
+// Config returns config of the main server component
+func (s *Server[T]) Config() ServerConfig {
+	return s.config
+}
+
 // Configs returns all configs of all server components.
 func (s *Server[T]) Configs() map[string]any {
 	cfgs := make(map[string]any)
+
+	// add main server component config
+	cfgs[s.Name()] = s.config
+
+	// add other components' config
 	for _, mod := range s.components {
 		if configmod, ok := mod.(HasConfig); ok {
 			cfg := configmod.Config()
@@ -164,9 +184,22 @@ func (s *Server[T]) Configs() map[string]any {
 	return cfgs
 }
 
+func (s *Server[T]) StartCmdFlags() *pflag.FlagSet {
+	flags := pflag.NewFlagSet(s.Name(), pflag.ExitOnError)
+	flags.String(FlagMinGasPrices, "", "Minimum gas prices to accept for transactions; Any fee in a tx must meet this minimum (e.g. 0.01photino;0.0001stake)")
+	return flags
+}
+
 // Init initializes all server components with the provided application, configuration, and logger.
 // It returns an error if any component fails to initialize.
 func (s *Server[T]) Init(appI AppI[T], v *viper.Viper, logger log.Logger) error {
+	cfg := s.config
+	if v != nil {
+		if err := UnmarshalSubConfig(v, s.Name(), &cfg); err != nil {
+			return fmt.Errorf("failed to unmarshal config: %w", err)
+		}
+	}
+
 	var components []ServerComponent[T]
 	for _, mod := range s.components {
 		mod := mod
@@ -177,6 +210,7 @@ func (s *Server[T]) Init(appI AppI[T], v *viper.Viper, logger log.Logger) error
 		components = append(components, mod)
 	}
 
+	s.config = cfg
 	s.components = components
 	return nil
 }
@@ -217,6 +251,11 @@ func (s *Server[T]) WriteConfig(configPath string) error {
 // StartFlags returns all flags of all server components.
 func (s *Server[T]) StartFlags() []*pflag.FlagSet {
 	flags := []*pflag.FlagSet{}
+
+	// add main server component flags
+	flags = append(flags, s.StartCmdFlags())
+
+	// add other components' start cmd flags
 	for _, mod := range s.components {
 		if startmod, ok := mod.(HasStartFlags); ok {
 			flags = append(flags, startmod.StartCmdFlags())
diff --git a/simapp/v2/simdv2/cmd/testnet.go b/simapp/v2/simdv2/cmd/testnet.go
index 2a35b3c4b31b..823e4e1df7df 100644
--- a/simapp/v2/simdv2/cmd/testnet.go
+++ b/simapp/v2/simdv2/cmd/testnet.go
@@ -337,19 +337,19 @@ func initTestnetFiles[T transaction.Tx](
 			return err
 		}
 
-		cometAppTomlCfg := cometbft.DefaultAppTomlConfig()
-		cometAppTomlCfg.MinGasPrices = args.minGasPrices
+		serverCfg := serverv2.DefaultMainServerConfig()
+		serverCfg.MinGasPrices = args.minGasPrices
 
 		// Write server config
 		cometServer := cometbft.New[T](
 			&genericTxDecoder[T]{clientCtx.TxConfig},
 			cometbft.ServerOptions[T]{},
 			cometbft.OverwriteDefaultConfigTomlConfig(nodeConfig),
-			cometbft.OverwriteDefaultAppTomlConfig(cometAppTomlCfg),
 		)
 		grpcServer := grpc.New[T](grpc.OverwriteDefaultConfig(grpcConfig))
 		storeServer := store.New[T]()
 		server := serverv2.NewServer(log.NewNopLogger(), cometServer, grpcServer, storeServer)
+		server.OverwriteDefaultConfig(serverCfg)
 		err = server.WriteConfig(filepath.Join(nodeDir, "config"))
 		if err != nil {
 			return err