diff --git a/x/stake/genesis.go b/x/stake/genesis.go
index b4ed80e51482..759cd2a62114 100644
--- a/x/stake/genesis.go
+++ b/x/stake/genesis.go
@@ -18,6 +18,7 @@ func InitGenesis(ctx sdk.Context, keeper Keeper, data types.GenesisState) error
 	keeper.InitIntraTxCounter(ctx)
 
 	for i, validator := range data.Validators {
+		validator.BondIntraTxCounter = int16(i) // set the intra-tx counter to the order the validators are presented
 		keeper.SetValidator(ctx, validator)
 
 		if validator.Tokens.IsZero() {
@@ -29,8 +30,6 @@ func InitGenesis(ctx sdk.Context, keeper Keeper, data types.GenesisState) error
 
 		// Manually set indexes for the first time
 		keeper.SetValidatorByPubKeyIndex(ctx, validator)
-
-		validator.BondIntraTxCounter = int16(i) // set the intra-tx counter to the order the validators are presented
 		keeper.SetValidatorByPowerIndex(ctx, validator, data.Pool)
 
 		if validator.Status == sdk.Bonded {