diff --git a/tests/integration/gov/genesis_test.go b/tests/integration/gov/genesis_test.go
index 86599ff3073c..6cbe8e7be48c 100644
--- a/tests/integration/gov/genesis_test.go
+++ b/tests/integration/gov/genesis_test.go
@@ -102,8 +102,10 @@ func TestImportExportQueues(t *testing.T) {
 
 	authGenState, err := s1.AccountKeeper.ExportGenesis(ctx)
 	require.NoError(t, err)
-	bankGenState := s1.BankKeeper.ExportGenesis(ctx)
-	stakingGenState := s1.StakingKeeper.ExportGenesis(ctx)
+	bankGenState, err := s1.BankKeeper.ExportGenesis(ctx)
+	require.NoError(t, err)
+	stakingGenState, err := s1.StakingKeeper.ExportGenesis(ctx)
+	require.NoError(t, err)
 
 	// export the state and import it into a new app
 	govGenState, _ := gov.ExportGenesis(ctx, s1.GovKeeper)
diff --git a/tests/integration/staking/keeper/genesis_test.go b/tests/integration/staking/keeper/genesis_test.go
index 96527dd20942..128af43cbc60 100644
--- a/tests/integration/staking/keeper/genesis_test.go
+++ b/tests/integration/staking/keeper/genesis_test.go
@@ -98,9 +98,11 @@ func TestInitGenesis(t *testing.T) {
 	delegations = append(delegations, genesisDelegations...)
 
 	genesisState := types.NewGenesisState(params, validators, delegations)
-	vals := (f.stakingKeeper.InitGenesis(f.sdkCtx, genesisState))
+	vals, err := (f.stakingKeeper.InitGenesis(f.sdkCtx, genesisState))
+	assert.NilError(t, err)
 
-	actualGenesis := (f.stakingKeeper.ExportGenesis(f.sdkCtx))
+	actualGenesis, err := (f.stakingKeeper.ExportGenesis(f.sdkCtx))
+	assert.NilError(t, err)
 	assert.DeepEqual(t, genesisState.Params, actualGenesis.Params)
 	assert.DeepEqual(t, genesisState.Delegations, actualGenesis.Delegations)
 
@@ -157,27 +159,23 @@ func TestInitGenesis_PoolsBalanceMismatch(t *testing.T) {
 		BondDenom:     "stake",
 	}
 
-	require.Panics(t, func() {
-		// setting validator status to bonded so the balance counts towards bonded pool
-		validator.Status = types.Bonded
-		f.stakingKeeper.InitGenesis(f.sdkCtx, &types.GenesisState{
-			Params:     params,
-			Validators: []types.Validator{validator},
-		})
-	},
-	// "should panic because bonded pool balance is different from bonded pool coins",
-	)
-
-	require.Panics(t, func() {
-		// setting validator status to unbonded so the balance counts towards not bonded pool
-		validator.Status = types.Unbonded
-		f.stakingKeeper.InitGenesis(f.sdkCtx, &types.GenesisState{
-			Params:     params,
-			Validators: []types.Validator{validator},
-		})
-	},
+	// setting validator status to bonded so the balance counts towards bonded pool
+	validator.Status = types.Bonded
+	_, err = f.stakingKeeper.InitGenesis(f.sdkCtx, &types.GenesisState{
+		Params:     params,
+		Validators: []types.Validator{validator},
+	})
+	// "should error because bonded pool balance is different from bonded pool coins",
+	require.NotNil(t, err)
+
+	// setting validator status to unbonded so the balance counts towards not bonded pool
+	validator.Status = types.Unbonded
+	_, err = f.stakingKeeper.InitGenesis(f.sdkCtx, &types.GenesisState{
+		Params:     params,
+		Validators: []types.Validator{validator},
+	})
 	// "should panic because not bonded pool balance is different from not bonded pool coins",
-	)
+	require.NotNil(t, err)
 }
 
 func TestInitGenesisLargeValidatorSet(t *testing.T) {
@@ -228,7 +226,8 @@ func TestInitGenesisLargeValidatorSet(t *testing.T) {
 		),
 	)
 
-	vals := f.stakingKeeper.InitGenesis(f.sdkCtx, genesisState)
+	vals, err := f.stakingKeeper.InitGenesis(f.sdkCtx, genesisState)
+	assert.NilError(t, err)
 
 	abcivals := make([]abci.ValidatorUpdate, 100)
 	for i, val := range validators[:100] {
diff --git a/x/authz/CHANGELOG.md b/x/authz/CHANGELOG.md
index 0e4e5795d1c1..e6de2c18baca 100644
--- a/x/authz/CHANGELOG.md
+++ b/x/authz/CHANGELOG.md
@@ -35,7 +35,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#19490](https://github.com/cosmos/cosmos-sdk/pull/19490) `appmodule.Environment` is received on the Keeper to get access to different application services.
 * [#18737](https://github.com/cosmos/cosmos-sdk/pull/18737) Update the keeper method `DequeueAndDeleteExpiredGrants` to take a limit argument for the number of grants to prune.
 * [#16509](https://github.com/cosmos/cosmos-sdk/pull/16509) `AcceptResponse` has been moved to sdk/types/authz and the `Updated` field is now of the type `sdk.Msg` instead of `authz.Authorization`.
-
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
 ### Consensus Breaking Changes
 
 * [#19188](https://github.com/cosmos/cosmos-sdk/pull/19188) Remove creation of `BaseAccount` when sending a message to an account that does not exist.
diff --git a/x/authz/keeper/genesis.go b/x/authz/keeper/genesis.go
index e014f5265748..d5de1d741b09 100644
--- a/x/authz/keeper/genesis.go
+++ b/x/authz/keeper/genesis.go
@@ -2,6 +2,7 @@ package keeper
 
 import (
 	"context"
+	"errors"
 
 	"cosmossdk.io/x/authz"
 
@@ -28,7 +29,7 @@ func (k Keeper) InitGenesis(ctx context.Context, data *authz.GenesisState) error
 
 		a, ok := entry.Authorization.GetCachedValue().(authz.Authorization)
 		if !ok {
-			panic("expected authorization")
+			return errors.New("expected authorization")
 		}
 
 		err = k.SaveGrant(ctx, grantee, granter, a, entry.Expiration)
diff --git a/x/bank/CHANGELOG.md b/x/bank/CHANGELOG.md
index fc76c3c85efd..3d1944d2c446 100644
--- a/x/bank/CHANGELOG.md
+++ b/x/bank/CHANGELOG.md
@@ -38,6 +38,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#17569](https://github.com/cosmos/cosmos-sdk/pull/17569) `BurnCoins` takes an address instead of a module name
 * [#19477](https://github.com/cosmos/cosmos-sdk/pull/19477) `appmodule.Environment` is passed to bank `NewKeeper`
 * [#19627](https://github.com/cosmos/cosmos-sdk/pull/19627) The genesis api has been updated to match `appmodule.HasGenesis`.
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
 
 ### Consensus Breaking Changes
 
diff --git a/x/bank/keeper/genesis.go b/x/bank/keeper/genesis.go
index 61a0729becab..dd094055c79a 100644
--- a/x/bank/keeper/genesis.go
+++ b/x/bank/keeper/genesis.go
@@ -57,10 +57,10 @@ func (k BaseKeeper) InitGenesis(ctx context.Context, genState *types.GenesisStat
 }
 
 // ExportGenesis returns the bank module's genesis state.
-func (k BaseKeeper) ExportGenesis(ctx context.Context) *types.GenesisState {
+func (k BaseKeeper) ExportGenesis(ctx context.Context) (*types.GenesisState, error) {
 	totalSupply, _, err := k.GetPaginatedTotalSupply(ctx, &query.PageRequest{Limit: query.PaginationMaxLimit})
 	if err != nil {
-		panic(fmt.Errorf("unable to fetch total supply %v", err))
+		return nil, fmt.Errorf("unable to fetch total supply %v", err)
 	}
 
 	rv := types.NewGenesisState(
@@ -70,5 +70,5 @@ func (k BaseKeeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 		k.GetAllDenomMetaData(ctx),
 		k.GetAllSendEnabledEntries(ctx),
 	)
-	return rv
+	return rv, nil
 }
diff --git a/x/bank/keeper/genesis_test.go b/x/bank/keeper/genesis_test.go
index 8798c51d5044..5462ca52802f 100644
--- a/x/bank/keeper/genesis_test.go
+++ b/x/bank/keeper/genesis_test.go
@@ -38,7 +38,8 @@ func (suite *KeeperTestSuite) TestExportGenesis() {
 
 	suite.Require().NoError(suite.bankKeeper.SetParams(ctx, types.DefaultParams()))
 
-	exportGenesis := suite.bankKeeper.ExportGenesis(ctx)
+	exportGenesis, err := suite.bankKeeper.ExportGenesis(ctx)
+	suite.Require().NoError(err)
 
 	suite.Require().Len(exportGenesis.Params.SendEnabled, 0) //nolint:staticcheck // we're testing the old way here
 	suite.Require().Equal(types.DefaultParams().DefaultSendEnabled, exportGenesis.Params.DefaultSendEnabled)
diff --git a/x/bank/keeper/keeper.go b/x/bank/keeper/keeper.go
index e4d76312a419..c643eb01489b 100644
--- a/x/bank/keeper/keeper.go
+++ b/x/bank/keeper/keeper.go
@@ -27,7 +27,7 @@ type Keeper interface {
 	WithMintCoinsRestriction(types.MintingRestrictionFn) BaseKeeper
 
 	InitGenesis(context.Context, *types.GenesisState) error
-	ExportGenesis(context.Context) *types.GenesisState
+	ExportGenesis(context.Context) (*types.GenesisState, error)
 
 	GetSupply(ctx context.Context, denom string) sdk.Coin
 	HasSupply(ctx context.Context, denom string) bool
diff --git a/x/bank/module.go b/x/bank/module.go
index 62bafcb41778..6390360f4b0f 100644
--- a/x/bank/module.go
+++ b/x/bank/module.go
@@ -144,7 +144,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) error
 // ExportGenesis returns the exported genesis state as raw bytes for the bank
 // module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	gs := am.keeper.ExportGenesis(ctx)
+	gs, err := am.keeper.ExportGenesis(ctx)
+	if err != nil {
+		return nil, err
+	}
 	return am.cdc.MarshalJSON(gs)
 }
 
diff --git a/x/crisis/keeper/genesis.go b/x/crisis/keeper/genesis.go
index b2bd54af50df..f95f28ad937a 100644
--- a/x/crisis/keeper/genesis.go
+++ b/x/crisis/keeper/genesis.go
@@ -14,10 +14,10 @@ func (k *Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) {
 }
 
 // ExportGenesis returns a GenesisState for a given context and keeper.
-func (k *Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
+func (k *Keeper) ExportGenesis(ctx context.Context) (*types.GenesisState, error) {
 	constantFee, err := k.ConstantFee.Get(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
-	return types.NewGenesisState(constantFee)
+	return types.NewGenesisState(constantFee), nil
 }
diff --git a/x/crisis/keeper/genesis_test.go b/x/crisis/keeper/genesis_test.go
index a2b392c3a6a0..c49754d8561b 100644
--- a/x/crisis/keeper/genesis_test.go
+++ b/x/crisis/keeper/genesis_test.go
@@ -55,7 +55,8 @@ func (s *GenesisTestSuite) TestImportExportGenesis() {
 	constantFee := sdk.NewCoin(sdk.DefaultBondDenom, sdkmath.NewInt(1000))
 	err := s.keeper.ConstantFee.Set(s.sdkCtx, constantFee)
 	s.Require().NoError(err)
-	genesis := s.keeper.ExportGenesis(s.sdkCtx)
+	genesis, err := s.keeper.ExportGenesis(s.sdkCtx)
+	s.Require().NoError(err)
 
 	// set constant fee to zero
 	constantFee = sdk.NewCoin(sdk.DefaultBondDenom, sdkmath.NewInt(0))
@@ -63,7 +64,8 @@ func (s *GenesisTestSuite) TestImportExportGenesis() {
 	s.Require().NoError(err)
 
 	s.keeper.InitGenesis(s.sdkCtx, genesis)
-	newGenesis := s.keeper.ExportGenesis(s.sdkCtx)
+	newGenesis, err := s.keeper.ExportGenesis(s.sdkCtx)
+	s.Require().NoError(err)
 	s.Require().Equal(genesis, newGenesis)
 }
 
diff --git a/x/crisis/module.go b/x/crisis/module.go
index bc981e86cea2..ad7c10e6e894 100644
--- a/x/crisis/module.go
+++ b/x/crisis/module.go
@@ -134,7 +134,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) error
 
 // ExportGenesis returns the exported genesis state as raw bytes for the crisis  module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	gs := am.keeper.ExportGenesis(ctx)
+	gs, err := am.keeper.ExportGenesis(ctx)
+	if err != nil {
+		return nil, err
+	}
 	return am.cdc.MarshalJSON(gs)
 }
 
diff --git a/x/distribution/CHANGELOG.md b/x/distribution/CHANGELOG.md
index f1c3f4c59689..610ac8103bce 100644
--- a/x/distribution/CHANGELOG.md
+++ b/x/distribution/CHANGELOG.md
@@ -49,6 +49,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
     * remove `Keeper`: `IterateValidatorCurrentRewards`, `GetValidatorCurrentRewards`, `SetValidatorCurrentRewards`, `DeleteValidatorCurrentRewards`
 * [#17657](https://github.com/cosmos/cosmos-sdk/pull/17657) The distribution module keeper now takes a new argument `PoolKeeper` in addition.
 * [#17670](https://github.com/cosmos/cosmos-sdk/pull/17670) `AllocateTokens` takes `comet.VoteInfos` instead of `[]abci.VoteInfo`
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
 
 ### Improvements
 
diff --git a/x/distribution/keeper/genesis.go b/x/distribution/keeper/genesis.go
index e77a1475551f..527ef35ba952 100644
--- a/x/distribution/keeper/genesis.go
+++ b/x/distribution/keeper/genesis.go
@@ -132,7 +132,7 @@ func (k Keeper) InitGenesis(ctx context.Context, data types.GenesisState) error
 	// check if the module account exists
 	moduleAcc := k.GetDistributionAccount(ctx)
 	if moduleAcc == nil {
-		panic(fmt.Sprintf("%s module account has not been set", types.ModuleName))
+		return fmt.Errorf("%s module account has not been set", types.ModuleName)
 	}
 
 	balances := k.bankKeeper.GetAllBalances(ctx, moduleAcc.GetAddress())
@@ -140,7 +140,7 @@ func (k Keeper) InitGenesis(ctx context.Context, data types.GenesisState) error
 		k.authKeeper.SetModuleAccount(ctx, moduleAcc)
 	}
 	if !balances.Equal(moduleHoldingsInt) {
-		panic(fmt.Sprintf("distribution module balance does not match the module holdings: %s <-> %s", balances, moduleHoldingsInt))
+		return fmt.Errorf("distribution module balance does not match the module holdings: %s <-> %s", balances, moduleHoldingsInt)
 	}
 	return nil
 }
diff --git a/x/gov/CHANGELOG.md b/x/gov/CHANGELOG.md
index 116e87afc38c..b1d565a9a4d4 100644
--- a/x/gov/CHANGELOG.md
+++ b/x/gov/CHANGELOG.md
@@ -67,6 +67,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#18532](https://github.com/cosmos/cosmos-sdk/pull/18532) All functions that were taking an expedited bool parameter now take a `ProposalType` parameter instead.
 * [#17496](https://github.com/cosmos/cosmos-sdk/pull/17496) in `x/gov/types/v1beta1/vote.go` `NewVote` was removed, constructing the struct is required for this type.
 * [#19101](https://github.com/cosmos/cosmos-sdk/pull/19101) Move `QueryProposalVotesParams` and `QueryVoteParams` from the `types/v1` package to `utils` and remove unused `querier.go` file.
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
 
 ### Deprecated
 
diff --git a/x/gov/genesis.go b/x/gov/genesis.go
index 09975f458bf4..dd9e42b18017 100644
--- a/x/gov/genesis.go
+++ b/x/gov/genesis.go
@@ -32,7 +32,7 @@ func InitGenesis(ctx context.Context, ak types.AccountKeeper, bk types.BankKeepe
 	// check if the deposits pool account exists
 	moduleAcc := k.GetGovernanceAccount(ctx)
 	if moduleAcc == nil {
-		panic(fmt.Sprintf("%s module account has not been set", types.ModuleName))
+		return fmt.Errorf("%s module account has not been set", types.ModuleName)
 	}
 
 	var totalDeposits sdk.Coins
@@ -79,9 +79,9 @@ func InitGenesis(ctx context.Context, ak types.AccountKeeper, bk types.BankKeepe
 		ak.SetModuleAccount(ctx, moduleAcc)
 	}
 
-	// check if total deposits equals balance, if it doesn't panic because there were export/import errors
+	// check if total deposits equals balance, if it doesn't return an error
 	if !balance.Equal(totalDeposits) {
-		panic(fmt.Sprintf("expected module account was %s but we got %s", balance.String(), totalDeposits.String()))
+		return fmt.Errorf("expected module account was %s but we got %s", balance.String(), totalDeposits.String())
 	}
 	return nil
 }
diff --git a/x/group/CHANGELOG.md b/x/group/CHANGELOG.md
index 9e67e2a664d1..0f6182d12bda 100644
--- a/x/group/CHANGELOG.md
+++ b/x/group/CHANGELOG.md
@@ -35,3 +35,4 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#19638](https://github.com/cosmos/cosmos-sdk/pull/19638) Migrate module to use `appmodule.Environment` router service so no `baseapp.MessageRouter` is required is `NewKeeper` anymore.
 * [#19489](https://github.com/cosmos/cosmos-sdk/pull/19489) `appmodule.Environment` is received on the Keeper to get access to different application services.
 * [#19410](https://github.com/cosmos/cosmos-sdk/pull/19410) Migrate to Store Service.
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
diff --git a/x/group/keeper/genesis.go b/x/group/keeper/genesis.go
index 70d61ff69230..a119a24bc32c 100644
--- a/x/group/keeper/genesis.go
+++ b/x/group/keeper/genesis.go
@@ -45,7 +45,7 @@ func (k Keeper) InitGenesis(ctx context.Context, cdc codec.JSONCodec, data json.
 }
 
 // ExportGenesis returns the group module's exported genesis.
-func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) *group.GenesisState {
+func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) (*group.GenesisState, error) {
 	genesisState := group.NewGenesisState()
 
 	var groups []*group.GroupInfo
@@ -54,7 +54,7 @@ func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) *group.Gen
 
 	groupSeq, err := k.groupTable.Export(store, &groups)
 	if err != nil {
-		panic(errors.Wrap(err, "groups"))
+		return nil, errors.Wrap(err, "groups")
 	}
 	genesisState.Groups = groups
 	genesisState.GroupSeq = groupSeq
@@ -62,14 +62,14 @@ func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) *group.Gen
 	var groupMembers []*group.GroupMember
 	_, err = k.groupMemberTable.Export(store, &groupMembers)
 	if err != nil {
-		panic(errors.Wrap(err, "group members"))
+		return nil, errors.Wrap(err, "group members")
 	}
 	genesisState.GroupMembers = groupMembers
 
 	var groupPolicies []*group.GroupPolicyInfo
 	_, err = k.groupPolicyTable.Export(store, &groupPolicies)
 	if err != nil {
-		panic(errors.Wrap(err, "group policies"))
+		return nil, errors.Wrap(err, "group policies")
 	}
 	genesisState.GroupPolicies = groupPolicies
 	genesisState.GroupPolicySeq = k.groupPolicySeq.CurVal(store)
@@ -77,7 +77,7 @@ func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) *group.Gen
 	var proposals []*group.Proposal
 	proposalSeq, err := k.proposalTable.Export(store, &proposals)
 	if err != nil {
-		panic(errors.Wrap(err, "proposals"))
+		return nil, errors.Wrap(err, "proposals")
 	}
 	genesisState.Proposals = proposals
 	genesisState.ProposalSeq = proposalSeq
@@ -85,9 +85,9 @@ func (k Keeper) ExportGenesis(ctx context.Context, _ codec.JSONCodec) *group.Gen
 	var votes []*group.Vote
 	_, err = k.voteTable.Export(store, &votes)
 	if err != nil {
-		panic(errors.Wrap(err, "votes"))
+		return nil, errors.Wrap(err, "votes")
 	}
 	genesisState.Votes = votes
 
-	return genesisState
+	return genesisState, nil
 }
diff --git a/x/group/keeper/genesis_test.go b/x/group/keeper/genesis_test.go
index 967867a1f271..ee92089f8c22 100644
--- a/x/group/keeper/genesis_test.go
+++ b/x/group/keeper/genesis_test.go
@@ -186,7 +186,8 @@ func (s *GenesisTestSuite) TestInitExportGenesis() {
 		s.Require().Equal(votesRes.Votes[0], genesisState.Votes[0])
 	}
 
-	exported := s.keeper.ExportGenesis(sdkCtx, cdc)
+	exported, err := s.keeper.ExportGenesis(sdkCtx, cdc)
+	s.Require().NoError(err)
 	bz, err := cdc.MarshalJSON(exported)
 	s.Require().NoError(err)
 
diff --git a/x/group/module/module.go b/x/group/module/module.go
index a1f00cd9f1fa..9a044274ec7c 100644
--- a/x/group/module/module.go
+++ b/x/group/module/module.go
@@ -144,7 +144,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) error
 
 // ExportGenesis returns the exported genesis state as raw bytes for the group module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	gs := am.keeper.ExportGenesis(ctx, am.cdc)
+	gs, err := am.keeper.ExportGenesis(ctx, am.cdc)
+	if err != nil {
+		return nil, err
+	}
 	return am.cdc.MarshalJSON(gs)
 }
 
diff --git a/x/nft/CHANGELOG.md b/x/nft/CHANGELOG.md
index 8e939e4fe3d2..4c8cc88e930d 100644
--- a/x/nft/CHANGELOG.md
+++ b/x/nft/CHANGELOG.md
@@ -37,6 +37,10 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 * [#19367](https://github.com/cosmos/cosmos-sdk/pull/19367) `appmodule.Environment` is received on the Keeper to get access to different application services
 
+### API Breaking Changes
+
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
+
 ## [v0.1.0](https://github.com/cosmos/cosmos-sdk/releases/tag/x/nft/v0.1.0) - 2023-11-07
 
 
diff --git a/x/nft/keeper/genesis.go b/x/nft/keeper/genesis.go
index 5e5dcae184fd..1c9aae22d73b 100644
--- a/x/nft/keeper/genesis.go
+++ b/x/nft/keeper/genesis.go
@@ -31,7 +31,7 @@ func (k Keeper) InitGenesis(ctx context.Context, data *nft.GenesisState) error {
 }
 
 // ExportGenesis returns a GenesisState for a given context.
-func (k Keeper) ExportGenesis(ctx context.Context) *nft.GenesisState {
+func (k Keeper) ExportGenesis(ctx context.Context) (*nft.GenesisState, error) {
 	classes := k.GetClasses(ctx)
 	nftMap := make(map[string][]*nft.NFT)
 	for _, class := range classes {
@@ -40,7 +40,7 @@ func (k Keeper) ExportGenesis(ctx context.Context) *nft.GenesisState {
 			owner := k.GetOwner(ctx, n.ClassId, n.Id)
 			ownerStr, err := k.ac.BytesToString(owner.Bytes())
 			if err != nil {
-				panic(err)
+				return nil, err
 			}
 			nftArr, ok := nftMap[ownerStr]
 			if !ok {
@@ -66,5 +66,5 @@ func (k Keeper) ExportGenesis(ctx context.Context) *nft.GenesisState {
 	return &nft.GenesisState{
 		Classes: classes,
 		Entries: entries,
-	}
+	}, nil
 }
diff --git a/x/nft/keeper/keeper_test.go b/x/nft/keeper/keeper_test.go
index e3ac2dfd0563..27c929bba25e 100644
--- a/x/nft/keeper/keeper_test.go
+++ b/x/nft/keeper/keeper_test.go
@@ -361,7 +361,8 @@ func (s *TestSuite) TestExportGenesis() {
 			Nfts:  []*nft.NFT{&expNFT},
 		}},
 	}
-	genesis := s.nftKeeper.ExportGenesis(s.ctx)
+	genesis, err := s.nftKeeper.ExportGenesis(s.ctx)
+	s.Require().NoError(err)
 	s.Require().Equal(expGenesis, genesis)
 }
 
diff --git a/x/nft/keeper/msg_server_test.go b/x/nft/keeper/msg_server_test.go
index ae70d60b52d9..5209a7d4010f 100644
--- a/x/nft/keeper/msg_server_test.go
+++ b/x/nft/keeper/msg_server_test.go
@@ -41,7 +41,8 @@ func (s *TestSuite) TestSend() {
 			Nfts:  []*nft.NFT{&ExpNFT},
 		}},
 	}
-	genesis := s.nftKeeper.ExportGenesis(s.ctx)
+	genesis, err := s.nftKeeper.ExportGenesis(s.ctx)
+	s.Require().NoError(err)
 	s.Require().Equal(expGenesis, genesis)
 
 	testCases := []struct {
diff --git a/x/nft/module/module.go b/x/nft/module/module.go
index c9a8e8b5b484..1c61a048f53d 100644
--- a/x/nft/module/module.go
+++ b/x/nft/module/module.go
@@ -108,7 +108,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) error
 
 // ExportGenesis returns the exported genesis state as raw bytes for the nft module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	gs := am.keeper.ExportGenesis(ctx)
+	gs, err := am.keeper.ExportGenesis(ctx)
+	if err != nil {
+		return nil, err
+	}
 	return am.cdc.MarshalJSON(gs)
 }
 
diff --git a/x/slashing/CHANGELOG.md b/x/slashing/CHANGELOG.md
index c5e3852773ef..81a7018057d4 100644
--- a/x/slashing/CHANGELOG.md
+++ b/x/slashing/CHANGELOG.md
@@ -43,5 +43,6 @@ Ref: https://keepachangelog.com/en/1.0.0/
     * remove from `Keeper`: `AddPubkey`
 * [#19440](https://github.com/cosmos/cosmos-sdk/pull/19440) Slashing Module creation takes `appmodule.Environment` instead of individual services
 * [#19458](https://github.com/cosmos/cosmos-sdk/pull/19458) ValidatorSigningInfo.IndexOffset is deprecated, and no longer used. The index is now derived using just the StartHeight.
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
 
 ### Bug Fixes
diff --git a/x/slashing/keeper/genesis.go b/x/slashing/keeper/genesis.go
index ac4af63f0054..f551fe748551 100644
--- a/x/slashing/keeper/genesis.go
+++ b/x/slashing/keeper/genesis.go
@@ -11,16 +11,19 @@ import (
 // InitGenesis initializes default parameters and the keeper's address to
 // pubkey map.
 func (keeper Keeper) InitGenesis(ctx context.Context, stakingKeeper types.StakingKeeper, data *types.GenesisState) error {
+	var fnErr error
 	err := stakingKeeper.IterateValidators(ctx,
 		func(index int64, validator sdk.ValidatorI) bool {
 			consPk, err := validator.ConsPubKey()
 			if err != nil {
-				panic(err)
+				fnErr = err
+				return true
 			}
 
 			err = keeper.AddrPubkeyRelation.Set(ctx, consPk.Address(), consPk)
 			if err != nil {
-				panic(err)
+				fnErr = err
+				return true
 			}
 			return false
 		},
@@ -28,6 +31,9 @@ func (keeper Keeper) InitGenesis(ctx context.Context, stakingKeeper types.Stakin
 	if err != nil {
 		return err
 	}
+	if fnErr != nil {
+		return fnErr
+	}
 
 	for _, info := range data.SigningInfos {
 		address, err := keeper.sk.ConsensusAddressCodec().StringToBytes(info.Address)
@@ -62,17 +68,17 @@ func (keeper Keeper) InitGenesis(ctx context.Context, stakingKeeper types.Stakin
 // ExportGenesis writes the current store values
 // to a genesis file, which can be imported again
 // with InitGenesis
-func (keeper Keeper) ExportGenesis(ctx context.Context) (data *types.GenesisState) {
+func (keeper Keeper) ExportGenesis(ctx context.Context) (*types.GenesisState, error) {
 	params, err := keeper.Params.Get(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 	signingInfos := make([]types.SigningInfo, 0)
 	missedBlocks := make([]types.ValidatorMissedBlocks, 0)
 	err = keeper.ValidatorSigningInfo.Walk(ctx, nil, func(address sdk.ConsAddress, info types.ValidatorSigningInfo) (stop bool, err error) {
 		bechAddr, err := keeper.sk.ConsensusAddressCodec().BytesToString(address)
 		if err != nil {
-			panic(err)
+			return true, err
 		}
 		signingInfos = append(signingInfos, types.SigningInfo{
 			Address:              bechAddr,
@@ -81,7 +87,7 @@ func (keeper Keeper) ExportGenesis(ctx context.Context) (data *types.GenesisStat
 
 		localMissedBlocks, err := keeper.GetValidatorMissedBlocks(ctx, address)
 		if err != nil {
-			panic(err)
+			return true, err
 		}
 
 		missedBlocks = append(missedBlocks, types.ValidatorMissedBlocks{
@@ -92,7 +98,7 @@ func (keeper Keeper) ExportGenesis(ctx context.Context) (data *types.GenesisStat
 		return false, nil
 	})
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
-	return types.NewGenesisState(params, signingInfos, missedBlocks)
+	return types.NewGenesisState(params, signingInfos, missedBlocks), nil
 }
diff --git a/x/slashing/keeper/genesis_test.go b/x/slashing/keeper/genesis_test.go
index c8ba1131da7c..0f5485c01bcf 100644
--- a/x/slashing/keeper/genesis_test.go
+++ b/x/slashing/keeper/genesis_test.go
@@ -30,7 +30,8 @@ func (s *KeeperTestSuite) TestExportAndInitGenesis() {
 
 	s.Require().NoError(keeper.ValidatorSigningInfo.Set(ctx, consAddr1, info1))
 	s.Require().NoError(keeper.ValidatorSigningInfo.Set(ctx, consAddr2, info2))
-	genesisState := keeper.ExportGenesis(ctx)
+	genesisState, err := keeper.ExportGenesis(ctx)
+	require.NoError(err)
 
 	require.Equal(genesisState.Params, testutil.TestParams())
 	require.Len(genesisState.SigningInfos, 2)
diff --git a/x/slashing/module.go b/x/slashing/module.go
index 7d8499629a3c..1371ecdcee8e 100644
--- a/x/slashing/module.go
+++ b/x/slashing/module.go
@@ -146,7 +146,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) error
 
 // ExportGenesis returns the exported genesis state as raw bytes for the slashing module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	gs := am.keeper.ExportGenesis(ctx)
+	gs, err := am.keeper.ExportGenesis(ctx)
+	if err != nil {
+		return nil, err
+	}
 	return am.cdc.MarshalJSON(gs)
 }
 
diff --git a/x/staking/CHANGELOG.md b/x/staking/CHANGELOG.md
index 522fc2dce0e3..1cf49509062e 100644
--- a/x/staking/CHANGELOG.md
+++ b/x/staking/CHANGELOG.md
@@ -95,3 +95,4 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#18841](https://github.com/cosmos/cosmos-sdk/pull/18841) In a undelegation or redelegation if the shares being left delegated correspond to less than 1 token (in base denom) the entire delegation gets removed.
 * [#18142](https://github.com/cosmos/cosmos-sdk/pull/18142) Introduce `key_rotation_fee` param to calculate fees while rotating the keys
 * [#17655](https://github.com/cosmos/cosmos-sdk/pull/17655) `HistoricalInfo` was replaced with `HistoricalRecord`, it removes the validator set and comet header and only keep what is needed for IBC.
+* [#19740](https://github.com/cosmos/cosmos-sdk/pull/19740) Verify `InitGenesis` and `ExportGenesis` module code and keeper code do not panic.
\ No newline at end of file
diff --git a/x/staking/keeper/genesis.go b/x/staking/keeper/genesis.go
index f41e214219bd..662f56972e28 100644
--- a/x/staking/keeper/genesis.go
+++ b/x/staking/keeper/genesis.go
@@ -18,7 +18,7 @@ import (
 // setting the indexes. In addition, it also sets any delegations found in
 // data. Finally, it updates the bonded validators.
 // Returns final validator set after applying all declaration and delegations
-func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res []abci.ValidatorUpdate) {
+func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res []abci.ValidatorUpdate, err error) {
 	bondedTokens := math.ZeroInt()
 	notBondedTokens := math.ZeroInt()
 
@@ -32,42 +32,42 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 	ctx = sdkCtx
 
 	if err := k.Params.Set(ctx, data.Params); err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	if err := k.LastTotalPower.Set(ctx, data.LastTotalPower); err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	for _, validator := range data.Validators {
 		if err := k.SetValidator(ctx, validator); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		// Manually set indices for the first time
 		if err := k.SetValidatorByConsAddr(ctx, validator); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		if err := k.SetValidatorByPowerIndex(ctx, validator); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		// Call the creation hook if not exported
 		if !data.Exported {
 			valbz, err := k.ValidatorAddressCodec().StringToBytes(validator.GetOperator())
 			if err != nil {
-				panic(err)
+				return nil, err
 			}
 			if err := k.Hooks().AfterValidatorCreated(ctx, valbz); err != nil {
-				panic(err)
+				return nil, err
 			}
 		}
 
 		// update timeslice if necessary
 		if validator.IsUnbonding() {
 			if err := k.InsertUnbondingValidatorQueue(ctx, validator); err != nil {
-				panic(err)
+				return nil, err
 			}
 		}
 
@@ -79,48 +79,48 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 			notBondedTokens = notBondedTokens.Add(validator.GetTokens())
 
 		default:
-			panic(fmt.Sprintf("invalid validator status: %v", validator.GetStatus()))
+			return nil, fmt.Errorf("invalid validator status: %v", validator.GetStatus())
 		}
 	}
 
 	for _, delegation := range data.Delegations {
 		delegatorAddress, err := k.authKeeper.AddressCodec().StringToBytes(delegation.DelegatorAddress)
 		if err != nil {
-			panic(fmt.Errorf("invalid delegator address: %s", err))
+			return nil, fmt.Errorf("invalid delegator address: %s", err)
 		}
 
 		valAddr, err := k.validatorAddressCodec.StringToBytes(delegation.GetValidatorAddr())
 		if err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		// Call the before-creation hook if not exported
 		if !data.Exported {
 			if err := k.Hooks().BeforeDelegationCreated(ctx, delegatorAddress, valAddr); err != nil {
-				panic(err)
+				return nil, err
 			}
 		}
 
 		if err := k.SetDelegation(ctx, delegation); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		// Call the after-modification hook if not exported
 		if !data.Exported {
 			if err := k.Hooks().AfterDelegationModified(ctx, delegatorAddress, valAddr); err != nil {
-				panic(err)
+				return nil, err
 			}
 		}
 	}
 
 	for _, ubd := range data.UnbondingDelegations {
 		if err := k.SetUnbondingDelegation(ctx, ubd); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		for _, entry := range ubd.Entries {
 			if err := k.InsertUBDQueue(ctx, ubd, entry.CompletionTime); err != nil {
-				panic(err)
+				return nil, err
 			}
 			notBondedTokens = notBondedTokens.Add(entry.Balance)
 		}
@@ -128,12 +128,12 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 
 	for _, red := range data.Redelegations {
 		if err := k.SetRedelegation(ctx, red); err != nil {
-			panic(err)
+			return nil, err
 		}
 
 		for _, entry := range red.Entries {
 			if err := k.InsertRedelegationQueue(ctx, red, entry.CompletionTime); err != nil {
-				panic(err)
+				return nil, err
 			}
 		}
 	}
@@ -144,7 +144,7 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 	// check if the unbonded and bonded pools accounts exists
 	bondedPool := k.GetBondedPool(ctx)
 	if bondedPool == nil {
-		panic(fmt.Sprintf("%s module account has not been set", types.BondedPoolName))
+		return nil, fmt.Errorf("%s module account has not been set", types.BondedPoolName)
 	}
 
 	// TODO: remove with genesis 2-phases refactor https://github.com/cosmos/cosmos-sdk/issues/2862
@@ -154,14 +154,14 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 		k.authKeeper.SetModuleAccount(ctx, bondedPool)
 	}
 
-	// if balance is different from bonded coins panic because genesis is most likely malformed
+	// if balance is different from bonded coins error because genesis is most likely malformed
 	if !bondedBalance.Equal(bondedCoins) {
-		panic(fmt.Sprintf("bonded pool balance is different from bonded coins: %s <-> %s", bondedBalance, bondedCoins))
+		return nil, fmt.Errorf("bonded pool balance is different from bonded coins: %s <-> %s", bondedBalance, bondedCoins)
 	}
 
 	notBondedPool := k.GetNotBondedPool(ctx)
 	if notBondedPool == nil {
-		panic(fmt.Sprintf("%s module account has not been set", types.NotBondedPoolName))
+		return nil, fmt.Errorf("%s module account has not been set", types.NotBondedPoolName)
 	}
 
 	notBondedBalance := k.bankKeeper.GetAllBalances(ctx, notBondedPool.GetAddress())
@@ -169,10 +169,10 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 		k.authKeeper.SetModuleAccount(ctx, notBondedPool)
 	}
 
-	// If balance is different from non bonded coins panic because genesis is most
+	// If balance is different from non bonded coins error because genesis is most
 	// likely malformed.
 	if !notBondedBalance.Equal(notBondedCoins) {
-		panic(fmt.Sprintf("not bonded pool balance is different from not bonded coins: %s <-> %s", notBondedBalance, notBondedCoins))
+		return nil, fmt.Errorf("not bonded pool balance is different from not bonded coins: %s <-> %s", notBondedBalance, notBondedCoins)
 	}
 
 	// don't need to run CometBFT updates if we exported
@@ -180,17 +180,17 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 		for _, lv := range data.LastValidatorPowers {
 			valAddr, err := k.validatorAddressCodec.StringToBytes(lv.Address)
 			if err != nil {
-				panic(err)
+				return nil, err
 			}
 
 			err = k.SetLastValidatorPower(ctx, valAddr, lv.Power)
 			if err != nil {
-				panic(err)
+				return nil, err
 			}
 
 			validator, err := k.GetValidator(ctx, valAddr)
 			if err != nil {
-				panic(fmt.Sprintf("validator %s not found", lv.Address))
+				return nil, fmt.Errorf("validator %s not found", lv.Address)
 			}
 
 			update := validator.ABCIValidatorUpdate(k.PowerReduction(ctx))
@@ -202,19 +202,19 @@ func (k Keeper) InitGenesis(ctx context.Context, data *types.GenesisState) (res
 
 		res, err = k.ApplyAndReturnValidatorSetUpdates(ctx)
 		if err != nil {
-			panic(err)
+			return nil, err
 		}
 	}
 
-	return res
+	return res, nil
 }
 
 // ExportGenesis returns a GenesisState for a given context and keeper. The
 // GenesisState will contain the pool, params, validators, and bonds found in
 // the keeper.
-func (k Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
+func (k Keeper) ExportGenesis(ctx context.Context) (*types.GenesisState, error) {
 	var unbondingDelegations []types.UnbondingDelegation
-
+	var fnErr error
 	err := k.UnbondingDelegations.Walk(
 		ctx,
 		nil,
@@ -224,7 +224,7 @@ func (k Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 		},
 	)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	var redelegations []types.Redelegation
@@ -234,7 +234,7 @@ func (k Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 		return false
 	})
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	var lastValidatorPowers []types.LastValidatorPower
@@ -242,33 +242,37 @@ func (k Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 	err = k.IterateLastValidatorPowers(ctx, func(addr sdk.ValAddress, power int64) (stop bool) {
 		addrStr, err := k.validatorAddressCodec.BytesToString(addr)
 		if err != nil {
-			panic(err)
+			fnErr = err
+			return true
 		}
 		lastValidatorPowers = append(lastValidatorPowers, types.LastValidatorPower{Address: addrStr, Power: power})
 		return false
 	})
 	if err != nil {
-		panic(err)
+		return nil, err
+	}
+	if fnErr != nil {
+		return nil, fnErr
 	}
 
 	params, err := k.Params.Get(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	totalPower, err := k.LastTotalPower.Get(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	allDelegations, err := k.GetAllDelegations(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	allValidators, err := k.GetAllValidators(ctx)
 	if err != nil {
-		panic(err)
+		return nil, err
 	}
 
 	return &types.GenesisState{
@@ -280,5 +284,5 @@ func (k Keeper) ExportGenesis(ctx context.Context) *types.GenesisState {
 		UnbondingDelegations: unbondingDelegations,
 		Redelegations:        redelegations,
 		Exported:             true,
-	}
+	}, nil
 }
diff --git a/x/staking/module.go b/x/staking/module.go
index c841b70546f3..359b0beb83ac 100644
--- a/x/staking/module.go
+++ b/x/staking/module.go
@@ -150,7 +150,10 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) ([]mo
 
 	am.cdc.MustUnmarshalJSON(data, &genesisState)
 
-	cometValidatorUpdates := am.keeper.InitGenesis(ctx, &genesisState) // TODO: refactor to return ValidatorUpdate higher up the stack
+	cometValidatorUpdates, err := am.keeper.InitGenesis(ctx, &genesisState) // TODO: refactor to return ValidatorUpdate higher up the stack
+	if err != nil {
+		return nil, err
+	}
 	validatorUpdates := make([]module.ValidatorUpdate, len(cometValidatorUpdates))
 	for i, v := range cometValidatorUpdates {
 		if ed25519 := v.PubKey.GetEd25519(); len(ed25519) > 0 {
@@ -175,7 +178,15 @@ func (am AppModule) InitGenesis(ctx context.Context, data json.RawMessage) ([]mo
 
 // ExportGenesis returns the exported genesis state as raw bytes for the staking module.
 func (am AppModule) ExportGenesis(ctx context.Context) (json.RawMessage, error) {
-	return am.cdc.MarshalJSON(am.keeper.ExportGenesis(ctx))
+	genesis, err := am.keeper.ExportGenesis(ctx)
+	if err != nil {
+		return nil, err
+	}
+	marshalJSON, err := am.cdc.MarshalJSON(genesis)
+	if err != nil {
+		return nil, err
+	}
+	return marshalJSON, nil
 }
 
 // ConsensusVersion implements HasConsensusVersion