diff --git a/subgraphs/protocol-reserve/schema.graphql b/subgraphs/protocol-reserve/schema.graphql
index 904d09dd..9ea11641 100644
--- a/subgraphs/protocol-reserve/schema.graphql
+++ b/subgraphs/protocol-reserve/schema.graphql
@@ -10,6 +10,7 @@ Converter Network entity
 """
 type ConverterNetwork @entity {
     id: Bytes!
+    address: Bytes!
     tokenConverters: [TokenConverter!]! @derivedFrom(field: "converterNetwork")
 }
 
diff --git a/subgraphs/protocol-reserve/src/mappings/converterNetwork.ts b/subgraphs/protocol-reserve/src/mappings/converterNetwork.ts
index deee2444..bd12d513 100644
--- a/subgraphs/protocol-reserve/src/mappings/converterNetwork.ts
+++ b/subgraphs/protocol-reserve/src/mappings/converterNetwork.ts
@@ -1,12 +1,18 @@
+import { ethereum } from '@graphprotocol/graph-ts';
 import {
   ConverterAdded,
   ConverterRemoved,
 } from '../../generated/ConverterNetwork/ConverterNetwork';
-import { getOrCreateConverterNetwork, getOrCreateTokenConverter } from '../operations/getOrCreate';
+import { getOrCreateTokenConverter } from '../operations/getOrCreate';
+import { createConverterNetwork } from '../operations/create';
 import { getConverterNetworkId } from '../utilities/ids';
 
+// eslint-disable-next-line @typescript-eslint/no-unused-vars
+export function handleInitializationConverterNetwork(block: ethereum.Block): void {
+  createConverterNetwork();
+}
+
 export function handleConverterAdded(event: ConverterAdded): void {
-  getOrCreateConverterNetwork(event.address);
   const tokenConverter = getOrCreateTokenConverter(event.params.converter);
   tokenConverter.converterNetwork = getConverterNetworkId(event.address);
   tokenConverter.save();
diff --git a/subgraphs/protocol-reserve/src/operations/create.ts b/subgraphs/protocol-reserve/src/operations/create.ts
index 960140ff..e036b125 100644
--- a/subgraphs/protocol-reserve/src/operations/create.ts
+++ b/subgraphs/protocol-reserve/src/operations/create.ts
@@ -1,5 +1,6 @@
 import { Address } from '@graphprotocol/graph-ts';
 
+import { ConverterNetwork } from '../../generated/schema';
 import { TokenConverter as TokenConverterContract } from '../../generated/BTCBPrimeConverter/TokenConverter';
 import { RiskFund } from '../../generated/ConverterNetwork/RiskFund';
 import { TokenConverter, TokenConverterConfig } from '../../generated/schema';
@@ -7,8 +8,26 @@ import { ERC20 } from '../../generated/templates';
 import { zeroBigInt32 } from '../constants';
 import { riskFundAddress, riskFundConverterAddress } from '../constants/addresses';
 import { valueOrNotAvailableAddressIfReverted } from '../utilities';
-import { getTokenConverterConfigId, getTokenConverterId } from '../utilities/ids';
+import {
+  getTokenConverterConfigId,
+  getTokenConverterId,
+  getConverterNetworkId,
+} from '../utilities/ids';
 import { getOrCreateToken } from './getOrCreate';
+import { converterNetworkAddress } from '../constants/addresses';
+
+/**
+ * ConverterNetwork is hardcoded in the subgraph definition
+ *
+ * @param converterNetworkAddress
+ * @returns
+ */
+export function createConverterNetwork(): ConverterNetwork {
+  const converterNetwork = new ConverterNetwork(getConverterNetworkId(converterNetworkAddress));
+  converterNetwork.address = converterNetworkAddress;
+
+  return converterNetwork;
+}
 
 export function createTokenConverter(tokenConverterAddress: Address): TokenConverter {
   const tokenConverterContract = TokenConverterContract.bind(tokenConverterAddress);
diff --git a/subgraphs/protocol-reserve/src/operations/getOrCreate.ts b/subgraphs/protocol-reserve/src/operations/getOrCreate.ts
index 61d078cb..9a1a4dd0 100644
--- a/subgraphs/protocol-reserve/src/operations/getOrCreate.ts
+++ b/subgraphs/protocol-reserve/src/operations/getOrCreate.ts
@@ -1,13 +1,8 @@
 import { Address } from '@graphprotocol/graph-ts';
 
 import { ERC20 } from '../../generated/RiskFundConverter/ERC20';
-import {
-  ConverterNetwork,
-  Token,
-  TokenConverter,
-  TokenConverterConfig,
-} from '../../generated/schema';
-import { getAssetId, getConverterNetworkId } from '../utilities/ids';
+import { Token, TokenConverter, TokenConverterConfig } from '../../generated/schema';
+import { getAssetId } from '../utilities/ids';
 import { createTokenConverter, createTokenConverterConfig } from './create';
 import { getTokenConverter, getTokenConverterConfig } from './get';
 
@@ -27,22 +22,6 @@ export function getOrCreateTokenConverter(tokenConverterAddress: Address): Token
   return tokenConverter;
 }
 
-/**
- * ConverterNetwork is hardcoded in the subgraph definition
- *
- * @param converterNetworkAddress
- * @returns
- */
-export function getOrCreateConverterNetwork(converterNetworkAddress: Address): ConverterNetwork {
-  let converterNetwork = ConverterNetwork.load(getConverterNetworkId(converterNetworkAddress));
-
-  if (!converterNetwork) {
-    converterNetwork = new ConverterNetwork(getConverterNetworkId(converterNetworkAddress));
-  }
-
-  return converterNetwork;
-}
-
 export function getOrCreateTokenConverterConfig(
   tokenConverterAddress: Address,
   tokenAddressIn: Address,
diff --git a/subgraphs/protocol-reserve/template-eth.yaml b/subgraphs/protocol-reserve/template-eth.yaml
index 4e7a7a6f..e8a74322 100644
--- a/subgraphs/protocol-reserve/template-eth.yaml
+++ b/subgraphs/protocol-reserve/template-eth.yaml
@@ -28,7 +28,10 @@ dataSources:
           handler: handleConverterAdded
         - event: ConverterRemoved(indexed address)
           handler: handleConverterRemoved
-
+      blockHandlers:
+        - handler: handleInitializationConverterNetwork
+          filter:
+            kind: once
   - name: WBTCPrimeConverter
     kind: ethereum/contract
     network: {{ network }}
diff --git a/subgraphs/protocol-reserve/template.yaml b/subgraphs/protocol-reserve/template.yaml
index 88243a23..5720d7a6 100644
--- a/subgraphs/protocol-reserve/template.yaml
+++ b/subgraphs/protocol-reserve/template.yaml
@@ -28,6 +28,10 @@ dataSources:
           handler: handleConverterAdded
         - event: ConverterRemoved(indexed address)
           handler: handleConverterRemoved
+      blockHandlers:
+        - handler: handleInitializationConverterNetwork
+          filter:
+            kind: once
   - name: BTCBPrimeConverter
     kind: ethereum/contract
     network: {{ network }}