diff --git a/src/core/env.ts b/src/core/env.ts
index f5d7a365..cecb7d05 100644
--- a/src/core/env.ts
+++ b/src/core/env.ts
@@ -28,6 +28,7 @@ import {
   FormulaPrefetch,
   FormulaPrefetchTransformations,
   FormulaProposalGetter,
+  FormulaProposalObject,
   FormulaProposalsGetter,
   FormulaSlashEventsGetter,
   FormulaTransformationDateGetter,
@@ -1138,7 +1139,8 @@ export const getEnv = ({
     await onFetch?.([event])
 
     return {
-      ...event.value,
+      id: event.proposalId,
+      value: event.value,
       version: event.version,
     }
   }
@@ -1208,11 +1210,12 @@ export const getEnv = ({
       (acc, { proposalId, value, version }) => ({
         ...acc,
         [proposalId]: {
-          ...value,
+          id: proposalId,
+          value,
           version,
         },
       }),
-      {} as Record<string, Record<string, any>>
+      {} as Record<string, FormulaProposalObject>
     )
   }
 
diff --git a/src/core/types.ts b/src/core/types.ts
index 34253664..3cf26c5c 100644
--- a/src/core/types.ts
+++ b/src/core/types.ts
@@ -243,12 +243,18 @@ export type FormulaBalancesGetter = (
   address: string
 ) => Promise<Record<string, string> | undefined>
 
+export type FormulaProposalObject = {
+  id: string
+  value: string
+  version: string
+}
+
 export type FormulaProposalGetter = (
   proposalId: string
-) => Promise<Record<string, any> | undefined>
+) => Promise<FormulaProposalObject | undefined>
 
 export type FormulaProposalsGetter = () => Promise<
-  Record<string, Record<string, any>> | undefined
+  Record<string, FormulaProposalObject> | undefined
 >
 
 export type Env<Args extends Record<string, string> = {}> = {
@@ -481,7 +487,7 @@ export type ParsedGovStateEvent = {
   blockHeight: string
   blockTimeUnixMs: string
   blockTimestamp: Date
-  value: Record<string, any>
+  value: string
   version: string
 }
 
diff --git a/src/data/formulas/generic/gov.ts b/src/data/formulas/generic/gov.ts
index 95f11305..bb8e3ab5 100644
--- a/src/data/formulas/generic/gov.ts
+++ b/src/data/formulas/generic/gov.ts
@@ -1,7 +1,7 @@
-import { GenericFormula } from '@/core'
+import { FormulaProposalObject, GenericFormula } from '@/core'
 
 export const proposal: GenericFormula<
-  Record<string, any> | undefined,
+  FormulaProposalObject | undefined,
   { proposalId: string }
 > = {
   compute: async ({ getProposal, args: { proposalId } }) => {
@@ -15,7 +15,7 @@ export const proposal: GenericFormula<
 
 export const proposals: GenericFormula<
   {
-    proposals: Record<string, any>[]
+    proposals: FormulaProposalObject[]
     total: number
   },
   {
@@ -52,7 +52,7 @@ export const proposals: GenericFormula<
 
 export const reverseProposals: GenericFormula<
   {
-    proposals: Record<string, any>[]
+    proposals: FormulaProposalObject[]
     total: number
   },
   {
diff --git a/src/db/migrations/20240108103200-change-gov-value-to-string.ts b/src/db/migrations/20240108103200-change-gov-value-to-string.ts
new file mode 100644
index 00000000..f95a93b2
--- /dev/null
+++ b/src/db/migrations/20240108103200-change-gov-value-to-string.ts
@@ -0,0 +1,19 @@
+import { QueryInterface } from 'sequelize'
+import { DataType } from 'sequelize-typescript'
+
+module.exports = {
+  async up(queryInterface: QueryInterface) {
+    await queryInterface.bulkDelete('GovStateEvents', {})
+    await queryInterface.changeColumn('GovStateEvents', 'value', {
+      type: DataType.TEXT('long'),
+      allowNull: false,
+    })
+  },
+
+  async down(queryInterface: QueryInterface) {
+    await queryInterface.changeColumn('GovStateEvents', 'value', {
+      type: DataType.JSONB,
+      allowNull: false,
+    })
+  },
+}
diff --git a/src/db/models/GovStateEvent.ts b/src/db/models/GovStateEvent.ts
index 3ec2a663..9697bd48 100644
--- a/src/db/models/GovStateEvent.ts
+++ b/src/db/models/GovStateEvent.ts
@@ -47,9 +47,10 @@ export class GovStateEvent extends DependendableEventModel {
   @Column(DataType.DATE)
   blockTimestamp!: Date
 
+  // Base64-encoded protobuf
   @AllowNull(false)
-  @Column(DataType.JSONB)
-  value!: any
+  @Column(DataType.TEXT('long'))
+  value!: string
 
   @AllowNull(false)
   @Column(DataType.STRING)
diff --git a/src/scripts/export/handlers/gov.ts b/src/scripts/export/handlers/gov.ts
index c2c24b5a..9837a55d 100644
--- a/src/scripts/export/handlers/gov.ts
+++ b/src/scripts/export/handlers/gov.ts
@@ -1,4 +1,4 @@
-import { fromBase64 } from '@cosmjs/encoding'
+import { fromBase64, toBase64 } from '@cosmjs/encoding'
 import retry from 'async-await-retry'
 import { Sequelize } from 'sequelize'
 
@@ -58,11 +58,13 @@ export const gov: HandlerMaker<ParsedGovStateEvent> = async () => {
     let value: any
     let version
     try {
-      value = ProposalV1.toAmino(ProposalV1.decode(valueData))
+      value = toBase64(ProposalV1.toProto(ProposalV1.decode(valueData)))
       version = 'v1'
     } catch {
       try {
-        value = ProposalV1Beta1.toAmino(ProposalV1Beta1.decode(valueData))
+        value = toBase64(
+          ProposalV1Beta1.toProto(ProposalV1Beta1.decode(valueData))
+        )
         version = 'v1beta1'
       } catch {
         return