diff --git a/crates/core/component/shielded-pool/src/component/shielded_pool.rs b/crates/core/component/shielded-pool/src/component/shielded_pool.rs
index 4c0c809fac..4ae8cdd963 100644
--- a/crates/core/component/shielded-pool/src/component/shielded_pool.rs
+++ b/crates/core/component/shielded-pool/src/component/shielded_pool.rs
@@ -1,6 +1,6 @@
 use std::sync::Arc;
 
-use crate::fmd::should_update_fmd_params;
+use crate::fmd::{should_update_fmd_params, ClueManagerInternal as _};
 use crate::params::ShieldedPoolParameters;
 use crate::{fmd, genesis, state_key};
 use anyhow::anyhow;
@@ -83,7 +83,11 @@ impl Component for ShieldedPool {
                 .get_current_fmd_parameters()
                 .await
                 .expect("should be able to read state");
-            let new = meta_params.updated_fmd_params(&old, height);
+            let clue_count_delta = state
+                .flush_clue_count()
+                .await
+                .expect("should be able to read state");
+            let new = meta_params.updated_fmd_params(&old, height, clue_count_delta);
             state.put_previous_fmd_parameters(old);
             state.put_current_fmd_parameters(new);
         }
diff --git a/crates/core/component/shielded-pool/src/fmd.rs b/crates/core/component/shielded-pool/src/fmd.rs
index e8e1541949..e500048aa6 100644
--- a/crates/core/component/shielded-pool/src/fmd.rs
+++ b/crates/core/component/shielded-pool/src/fmd.rs
@@ -1,9 +1,12 @@
-use anyhow::anyhow;
-use decaf377_fmd::Precision;
+use anyhow::{anyhow, Result};
+use async_trait::async_trait;
+use cnidarium::{StateRead, StateWrite};
+use decaf377_fmd::{Clue, Precision};
 use penumbra_proto::{
     core::component::shielded_pool::v1::{self as pb},
-    DomainType,
+    DomainType, StateWriteProto,
 };
+use penumbra_txhash::TransactionId;
 use serde::{Deserialize, Serialize};
 
 pub mod state_key;
@@ -35,7 +38,7 @@ impl DomainType for Parameters {
 impl TryFrom<pb::FmdParameters> for Parameters {
     type Error = anyhow::Error;
 
-    fn try_from(msg: pb::FmdParameters) -> Result<Self, Self::Error> {
+    fn try_from(msg: pb::FmdParameters) -> Result<Self> {
         Ok(Parameters {
             precision: msg.precision_bits.try_into()?,
             as_of_block_height: msg.as_of_block_height,
@@ -72,7 +75,7 @@ pub enum MetaParameters {
 impl TryFrom<pb::FmdMetaParameters> for MetaParameters {
     type Error = anyhow::Error;
 
-    fn try_from(value: pb::FmdMetaParameters) -> Result<Self, Self::Error> {
+    fn try_from(value: pb::FmdMetaParameters) -> Result<Self> {
         match value.algorithm.ok_or(anyhow!("missing algorithm"))? {
             pb::fmd_meta_parameters::Algorithm::FixedPrecisionBits(p) => {
                 Ok(MetaParameters::Fixed(Precision::new(p as u8)?))
@@ -104,7 +107,7 @@ impl Default for MetaParameters {
 }
 
 impl MetaParameters {
-    pub fn updated_fmd_params(&self, _old: &Parameters, height: u64) -> Parameters {
+    pub fn updated_fmd_params(&self, _old: &Parameters, height: u64, _clue_count_delta: (u64, u64)) -> Parameters {
         match *self {
             MetaParameters::Fixed(precision) => Parameters {
                 precision,
@@ -113,3 +116,84 @@ impl MetaParameters {
         }
     }
 }
+
+#[async_trait]
+trait ClueWriteExt: StateWrite {
+    fn put_current_clue_count(&mut self, count: u64) {
+        self.put_raw(
+            state_key::clue_count::current().to_string(),
+            count.to_be_bytes().to_vec(),
+        )
+    }
+
+    fn put_previous_clue_count(&mut self, count: u64) {
+        self.put_raw(
+            state_key::clue_count::previous().to_string(),
+            count.to_be_bytes().to_vec(),
+        )
+    }
+}
+
+impl<T: StateWrite + ?Sized> ClueWriteExt for T {}
+
+#[async_trait]
+trait ClueReadExt: StateRead {
+    async fn get_current_clue_count(&self) -> Result<u64> {
+        Ok(u64::from_be_bytes(
+            self.get_raw(state_key::clue_count::current())
+                .await?
+                .ok_or(anyhow!("no current clue count"))?
+                .as_slice()
+                .try_into()?,
+        ))
+    }
+
+    async fn get_previous_clue_count(&self) -> Result<u64> {
+        Ok(u64::from_be_bytes(
+            self.get_raw(state_key::clue_count::previous())
+                .await?
+                .ok_or(anyhow!("no current clue count"))?
+                .as_slice()
+                .try_into()?,
+        ))
+    }
+}
+
+impl<T: StateRead + ?Sized> ClueReadExt for T {}
+
+#[async_trait]
+pub trait ClueManager: StateRead + StateWrite {
+    async fn record_clue(&mut self, clue: Clue, tx: TransactionId) -> Result<()> {
+        // Update count
+        {
+            let count = self.get_current_clue_count().await?;
+            self.put_current_clue_count(count.saturating_add(1));
+        }
+        self.record_proto(pb::EventClue {
+            clue: Some(clue.into()),
+            tx: Some(tx.into())
+        });
+        Ok(())
+    }
+}
+
+impl<T: StateRead + StateWrite> ClueManager for T {}
+
+#[async_trait]
+pub(crate) trait ClueManagerInternal: ClueManager {
+    fn init(&mut self) {
+        self.put_current_clue_count(0);
+        self.put_previous_clue_count(0);
+    }
+
+    /// Flush the clue counts, returning the previous and current counts
+    async fn flush_clue_count(&mut self) -> Result<(u64, u64)> {
+        let previous = self.get_previous_clue_count().await?;
+        let current = self.get_current_clue_count().await?;
+        self.put_previous_clue_count(current);
+        self.put_current_clue_count(0);
+        Ok((previous, current))
+    }
+}
+
+impl<T: ClueManager> ClueManagerInternal for T {}
diff --git a/crates/core/component/shielded-pool/src/fmd/state_key.rs b/crates/core/component/shielded-pool/src/fmd/state_key.rs
index d1e47596f7..4a3d1fcc27 100644
--- a/crates/core/component/shielded-pool/src/fmd/state_key.rs
+++ b/crates/core/component/shielded-pool/src/fmd/state_key.rs
@@ -9,3 +9,13 @@ pub mod parameters {
         "shielded_pool/fmd_parameters/previous"
     }
 }
+
+pub(super) mod clue_count {
+    pub fn current() -> &'static str {
+        "shielded_pool/fmd_clue_count/current"
+    }
+
+    pub fn previous() -> &'static str {
+        "shielded_pool/fmd_clue_count/previous"
+    }
+}
diff --git a/crates/core/component/shielded-pool/src/lib.rs b/crates/core/component/shielded-pool/src/lib.rs
index 84d112ed52..96c97789df 100644
--- a/crates/core/component/shielded-pool/src/lib.rs
+++ b/crates/core/component/shielded-pool/src/lib.rs
@@ -26,6 +26,7 @@ pub mod output;
 pub mod spend;
 
 pub use convert::{ConvertCircuit, ConvertProof, ConvertProofPrivate, ConvertProofPublic};
+pub use fmd::ClueManager;
 pub use nullifier_derivation::{
     NullifierDerivationCircuit, NullifierDerivationProof, NullifierDerivationProofPrivate,
     NullifierDerivationProofPublic,
diff --git a/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.rs b/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.rs
index 164f280336..88b981b3d2 100644
--- a/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.rs
+++ b/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.rs
@@ -291,6 +291,26 @@ impl ::prost::Name for EventOutput {
         )
     }
 }
+/// ABCI Event recording a clue.
+#[allow(clippy::derive_partial_eq_without_eq)]
+#[derive(Clone, PartialEq, ::prost::Message)]
+pub struct EventClue {
+    #[prost(message, optional, tag = "1")]
+    pub clue: ::core::option::Option<
+        super::super::super::super::crypto::decaf377_fmd::v1::Clue,
+    >,
+    #[prost(message, optional, tag = "2")]
+    pub tx: ::core::option::Option<super::super::super::txhash::v1::TransactionId>,
+}
+impl ::prost::Name for EventClue {
+    const NAME: &'static str = "EventClue";
+    const PACKAGE: &'static str = "penumbra.core.component.shielded_pool.v1";
+    fn full_name() -> ::prost::alloc::string::String {
+        ::prost::alloc::format!(
+            "penumbra.core.component.shielded_pool.v1.{}", Self::NAME
+        )
+    }
+}
 /// The body of a spend description, containing only the effecting data
 /// describing changes to the ledger, and not the authorizing data that allows
 /// those changes to be performed.
diff --git a/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.serde.rs b/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.serde.rs
index a1e86d33d3..e86ea48fe0 100644
--- a/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.serde.rs
+++ b/crates/proto/src/gen/penumbra.core.component.shielded_pool.v1.serde.rs
@@ -190,6 +190,118 @@ impl<'de> serde::Deserialize<'de> for AssetMetadataByIdResponse {
         deserializer.deserialize_struct("penumbra.core.component.shielded_pool.v1.AssetMetadataByIdResponse", FIELDS, GeneratedVisitor)
     }
 }
+impl serde::Serialize for EventClue {
+    #[allow(deprecated)]
+    fn serialize<S>(&self, serializer: S) -> std::result::Result<S::Ok, S::Error>
+    where
+        S: serde::Serializer,
+    {
+        use serde::ser::SerializeStruct;
+        let mut len = 0;
+        if self.clue.is_some() {
+            len += 1;
+        }
+        if self.tx.is_some() {
+            len += 1;
+        }
+        let mut struct_ser = serializer.serialize_struct("penumbra.core.component.shielded_pool.v1.EventClue", len)?;
+        if let Some(v) = self.clue.as_ref() {
+            struct_ser.serialize_field("clue", v)?;
+        }
+        if let Some(v) = self.tx.as_ref() {
+            struct_ser.serialize_field("tx", v)?;
+        }
+        struct_ser.end()
+    }
+}
+impl<'de> serde::Deserialize<'de> for EventClue {
+    #[allow(deprecated)]
+    fn deserialize<D>(deserializer: D) -> std::result::Result<Self, D::Error>
+    where
+        D: serde::Deserializer<'de>,
+    {
+        const FIELDS: &[&str] = &[
+            "clue",
+            "tx",
+        ];
+
+        #[allow(clippy::enum_variant_names)]
+        enum GeneratedField {
+            Clue,
+            Tx,
+            __SkipField__,
+        }
+        impl<'de> serde::Deserialize<'de> for GeneratedField {
+            fn deserialize<D>(deserializer: D) -> std::result::Result<GeneratedField, D::Error>
+            where
+                D: serde::Deserializer<'de>,
+            {
+                struct GeneratedVisitor;
+
+                impl<'de> serde::de::Visitor<'de> for GeneratedVisitor {
+                    type Value = GeneratedField;
+
+                    fn expecting(&self, formatter: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
+                        write!(formatter, "expected one of: {:?}", &FIELDS)
+                    }
+
+                    #[allow(unused_variables)]
+                    fn visit_str<E>(self, value: &str) -> std::result::Result<GeneratedField, E>
+                    where
+                        E: serde::de::Error,
+                    {
+                        match value {
+                            "clue" => Ok(GeneratedField::Clue),
+                            "tx" => Ok(GeneratedField::Tx),
+                            _ => Ok(GeneratedField::__SkipField__),
+                        }
+                    }
+                }
+                deserializer.deserialize_identifier(GeneratedVisitor)
+            }
+        }
+        struct GeneratedVisitor;
+        impl<'de> serde::de::Visitor<'de> for GeneratedVisitor {
+            type Value = EventClue;
+
+            fn expecting(&self, formatter: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
+                formatter.write_str("struct penumbra.core.component.shielded_pool.v1.EventClue")
+            }
+
+            fn visit_map<V>(self, mut map_: V) -> std::result::Result<EventClue, V::Error>
+                where
+                    V: serde::de::MapAccess<'de>,
+            {
+                let mut clue__ = None;
+                let mut tx__ = None;
+                while let Some(k) = map_.next_key()? {
+                    match k {
+                        GeneratedField::Clue => {
+                            if clue__.is_some() {
+                                return Err(serde::de::Error::duplicate_field("clue"));
+                            }
+                            clue__ = map_.next_value()?;
+                        }
+                        GeneratedField::Tx => {
+                            if tx__.is_some() {
+                                return Err(serde::de::Error::duplicate_field("tx"));
+                            }
+                            tx__ = map_.next_value()?;
+                        }
+                        GeneratedField::__SkipField__ => {
+                            let _ = map_.next_value::<serde::de::IgnoredAny>()?;
+                        }
+                    }
+                }
+                Ok(EventClue {
+                    clue: clue__,
+                    tx: tx__,
+                })
+            }
+        }
+        deserializer.deserialize_struct("penumbra.core.component.shielded_pool.v1.EventClue", FIELDS, GeneratedVisitor)
+    }
+}
 impl serde::Serialize for EventOutput {
     #[allow(deprecated)]
     fn serialize<S>(&self, serializer: S) -> std::result::Result<S::Ok, S::Error>
diff --git a/crates/proto/src/gen/proto_descriptor.bin.no_lfs b/crates/proto/src/gen/proto_descriptor.bin.no_lfs
index 634db20b2f..c122e7f4ef 100644
Binary files a/crates/proto/src/gen/proto_descriptor.bin.no_lfs and b/crates/proto/src/gen/proto_descriptor.bin.no_lfs differ
diff --git a/proto/penumbra/penumbra/core/component/shielded_pool/v1/shielded_pool.proto b/proto/penumbra/penumbra/core/component/shielded_pool/v1/shielded_pool.proto
index 24f4575192..0e9dc7a35c 100644
--- a/proto/penumbra/penumbra/core/component/shielded_pool/v1/shielded_pool.proto
+++ b/proto/penumbra/penumbra/core/component/shielded_pool/v1/shielded_pool.proto
@@ -5,6 +5,8 @@ import "penumbra/core/asset/v1/asset.proto";
 import "penumbra/core/component/sct/v1/sct.proto";
 import "penumbra/core/keys/v1/keys.proto";
 import "penumbra/core/num/v1/num.proto";
+import "penumbra/core/txhash/v1/txhash.proto";
+import "penumbra/crypto/decaf377_fmd/v1/decaf377_fmd.proto";
 import "penumbra/crypto/decaf377_rdsa/v1/decaf377_rdsa.proto";
 import "penumbra/crypto/tct/v1/tct.proto";
 
@@ -104,6 +106,12 @@ message EventOutput {
   crypto.tct.v1.StateCommitment note_commitment = 1;
 }
 
+// ABCI Event recording a clue.
+message EventClue {
+  crypto.decaf377_fmd.v1.Clue clue = 1;
+  txhash.v1.TransactionId tx = 2;
+}
+
 // The body of a spend description, containing only the effecting data
 // describing changes to the ledger, and not the authorizing data that allows
 // those changes to be performed.