diff --git a/Cargo.lock b/Cargo.lock
index b7ca48c9..fc544368 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -15,9 +15,9 @@ dependencies = [
 
 [[package]]
 name = "anyhow"
-version = "1.0.75"
+version = "1.0.82"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a4668cab20f66d8d020e1fbc0ebe47217433c1b6c8f2040faf858554e394ace6"
+checksum = "f538837af36e6f6a9be0faa67f9a314f8119e4e4b5867c6ab40ed60360142519"
 
 [[package]]
 name = "autocfg"
@@ -49,6 +49,12 @@ version = "1.6.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "8c3c1a368f70d6cf7302d78f8f7093da241fb8e8807c05cc9e51a125895a6d5b"
 
+[[package]]
+name = "bech32"
+version = "0.9.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d86b93f97252c47b41663388e6d155714a9d0c398b99f1005cbc5f978b29f445"
+
 [[package]]
 name = "block-buffer"
 version = "0.9.0"
@@ -69,9 +75,9 @@ dependencies = [
 
 [[package]]
 name = "bnum"
-version = "0.8.0"
+version = "0.10.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "128a44527fc0d6abf05f9eda748b9027536e12dff93f5acc8449f51583309350"
+checksum = "56953345e39537a3e18bdaeba4cb0c58a78c1f61f361dc0fa7c5c7340ae87c5f"
 
 [[package]]
 name = "byteorder"
@@ -123,11 +129,12 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-crypto"
-version = "1.4.1"
+version = "1.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a6fb22494cf7d23d0c348740e06e5c742070b2991fd41db77bba0bcfbae1a723"
+checksum = "e6b4c3f9c4616d6413d4b5fc4c270a4cc32a374b9be08671e80e1a019f805d8f"
 dependencies = [
  "digest 0.10.7",
+ "ecdsa 0.16.8",
  "ed25519-zebra",
  "k256 0.13.1",
  "rand_core 0.6.4",
@@ -136,18 +143,18 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-derive"
-version = "1.4.1"
+version = "1.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6e199424486ea97d6b211db6387fd72e26b4a439d40cc23140b2d8305728055b"
+checksum = "c586ced10c3b00e809ee664a895025a024f60d65d34fe4c09daed4a4db68a3f3"
 dependencies = [
  "syn 1.0.109",
 ]
 
 [[package]]
 name = "cosmwasm-schema"
-version = "1.3.3"
+version = "1.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "99222fa0401ee36389550d8a065700380877a2299c3043d24c38d705708c9d9d"
+checksum = "8467874827d384c131955ff6f4d47d02e72a956a08eb3c0ff24f8c903a5517b4"
 dependencies = [
  "cosmwasm-schema-derive",
  "schemars",
@@ -158,9 +165,9 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-schema-derive"
-version = "1.3.3"
+version = "1.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4b74eaf9e585ef8e5e3486b240b13ee593cb0f658b5879696937d8c22243d4fb"
+checksum = "f6db85d98ac80922aef465e564d5b21fa9cfac5058cb62df7f116c3682337393"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -169,11 +176,12 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-std"
-version = "1.4.1"
+version = "1.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7d89d680fb60439b7c5947b15f9c84b961b88d1f8a3b20c4bd178a3f87db8bae"
+checksum = "712fe58f39d55c812f7b2c84e097cdede3a39d520f89b6dc3153837e31741927"
 dependencies = [
  "base64",
+ "bech32",
  "bnum",
  "cosmwasm-crypto",
  "cosmwasm-derive",
@@ -183,7 +191,8 @@ dependencies = [
  "schemars",
  "serde",
  "serde-json-wasm",
- "sha2 0.10.7",
+ "sha2 0.10.8",
+ "static_assertions",
  "thiserror",
 ]
 
@@ -264,9 +273,9 @@ dependencies = [
 
 [[package]]
 name = "cw-storage-plus"
-version = "1.1.0"
+version = "1.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3f0e92a069d62067f3472c62e30adedb4cab1754725c0f2a682b3128d2bf3c79"
+checksum = "d5ff29294ee99373e2cd5fd21786a3c0ced99a52fec2ca347d565489c61b723c"
 dependencies = [
  "cosmwasm-std",
  "schemars",
@@ -275,9 +284,9 @@ dependencies = [
 
 [[package]]
 name = "cw-utils"
-version = "1.0.1"
+version = "1.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c80e93d1deccb8588db03945016a292c3c631e6325d349ebb35d2db6f4f946f7"
+checksum = "1c4a657e5caacc3a0d00ee96ca8618745d050b8f757c709babafb81208d4239c"
 dependencies = [
  "cosmwasm-schema",
  "cosmwasm-std",
@@ -290,14 +299,15 @@ dependencies = [
 
 [[package]]
 name = "cw2"
-version = "1.1.0"
+version = "1.1.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "29ac2dc7a55ad64173ca1e0a46697c31b7a5c51342f55a1e84a724da4eb99908"
+checksum = "c6c120b24fbbf5c3bedebb97f2cc85fbfa1c3287e09223428e7e597b5293c1fa"
 dependencies = [
  "cosmwasm-schema",
  "cosmwasm-std",
  "cw-storage-plus",
  "schemars",
+ "semver",
  "serde",
  "thiserror",
 ]
@@ -573,9 +583,9 @@ dependencies = [
 
 [[package]]
 name = "itertools"
-version = "0.11.0"
+version = "0.12.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b1c173a5686ce8bfa551b3563d0c2170bf24ca44da99c7ca4bfdab5418c3fe57"
+checksum = "ba291022dbbd398a455acf126c1e341954079855bc60dfdda641363bd6922569"
 dependencies = [
  "either",
 ]
@@ -595,7 +605,7 @@ dependencies = [
  "cfg-if",
  "ecdsa 0.14.8",
  "elliptic-curve 0.12.3",
- "sha2 0.10.7",
+ "sha2 0.10.8",
 ]
 
 [[package]]
@@ -608,7 +618,7 @@ dependencies = [
  "ecdsa 0.16.8",
  "elliptic-curve 0.13.6",
  "once_cell",
- "sha2 0.10.7",
+ "sha2 0.10.8",
  "signature 2.1.0",
 ]
 
@@ -874,7 +884,7 @@ dependencies = [
  "cw-utils",
  "cw2",
  "derivative",
- "itertools 0.11.0",
+ "itertools 0.12.1",
  "mesh-apis",
  "mesh-bindings",
  "mesh-burn",
@@ -1006,9 +1016,9 @@ dependencies = [
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.66"
+version = "1.0.81"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "18fb31db3f9bddb2ea821cde30a9f70117e3f119938b5ee630b7403aa6e2ead9"
+checksum = "3d1597b0c024618f09a9c3b8655b7e430397a36d23fdafec26d6965e9eec3eba"
 dependencies = [
  "unicode-ident",
 ]
@@ -1070,9 +1080,9 @@ dependencies = [
 
 [[package]]
 name = "quote"
-version = "1.0.33"
+version = "1.0.36"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5267fca4496028628a95160fc423a33e8b2e6af8a5302579e322e4b520293cae"
+checksum = "0fa76aaf39101c457836aec0ce2316dbdc3ab723cdda1c6bd4e6ad4208acaca7"
 dependencies = [
  "proc-macro2",
 ]
@@ -1121,9 +1131,9 @@ checksum = "1ad4cc8da4ef723ed60bced201181d83791ad433213d8c24efffda1eec85d741"
 
 [[package]]
 name = "schemars"
-version = "0.8.13"
+version = "0.8.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "763f8cd0d4c71ed8389c90cb8100cba87e763bd01a8e614d4f0af97bcd50a161"
+checksum = "7f55c82c700538496bdc329bb4918a81f87cc8888811bd123cf325a0f2f8d309"
 dependencies = [
  "dyn-clone",
  "schemars_derive",
@@ -1133,14 +1143,14 @@ dependencies = [
 
 [[package]]
 name = "schemars_derive"
-version = "0.8.13"
+version = "0.8.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ec0f696e21e10fa546b7ffb1c9672c6de8fbc7a81acf59524386d8639bf12737"
+checksum = "83263746fe5e32097f06356968a077f96089739c927a61450efa069905eec108"
 dependencies = [
  "proc-macro2",
  "quote",
  "serde_derive_internals",
- "syn 1.0.109",
+ "syn 2.0.60",
 ]
 
 [[package]]
@@ -1173,15 +1183,15 @@ dependencies = [
 
 [[package]]
 name = "semver"
-version = "1.0.18"
+version = "1.0.22"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b0293b4b29daaf487284529cc2f5675b8e57c61f70167ba415a463651fd6a918"
+checksum = "92d43fe69e652f3df9bdc2b85b2854a0825b86e4fb76bc44d945137d053639ca"
 
 [[package]]
 name = "serde"
-version = "1.0.188"
+version = "1.0.199"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cf9e0fcba69a370eed61bcf2b728575f726b50b55cba78064753d708ddc7549e"
+checksum = "0c9f6e76df036c77cd94996771fb40db98187f096dd0b9af39c6c6e452ba966a"
 dependencies = [
  "serde_derive",
 ]
@@ -1197,33 +1207,33 @@ dependencies = [
 
 [[package]]
 name = "serde-json-wasm"
-version = "0.5.1"
+version = "0.5.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "16a62a1fad1e1828b24acac8f2b468971dade7b8c3c2e672bcadefefb1f8c137"
+checksum = "9e9213a07d53faa0b8dd81e767a54a8188a242fdb9be99ab75ec576a774bfdd7"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.188"
+version = "1.0.199"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4eca7ac642d82aa35b60049a6eccb4be6be75e599bd2e9adb5f875a737654af2"
+checksum = "11bd257a6541e141e42ca6d24ae26f7714887b47e89aa739099104c7e4d3b7fc"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.29",
+ "syn 2.0.60",
 ]
 
 [[package]]
 name = "serde_derive_internals"
-version = "0.26.0"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "85bf8229e7920a9f636479437026331ce11aa132b4dde37d121944a44d6e5f3c"
+checksum = "330f01ce65a3a5fe59a60c82f3c9a024b573b8a6e875bd233fe5f934e71d54e3"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 1.0.109",
+ "syn 2.0.60",
 ]
 
 [[package]]
@@ -1252,9 +1262,9 @@ dependencies = [
 
 [[package]]
 name = "sha2"
-version = "0.10.7"
+version = "0.10.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "479fb9d862239e610720565ca91403019f2f00410f1864c5aa7479b950a76ed8"
+checksum = "793db75ad2bcafc3ffa7c68b215fee268f537982cd901d132f89c6343f3a3dc8"
 dependencies = [
  "cfg-if",
  "cpufeatures",
@@ -1301,6 +1311,12 @@ dependencies = [
  "der 0.7.8",
 ]
 
+[[package]]
+name = "static_assertions"
+version = "1.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a2eb9349b6444b326872e140eb1cf5e7c522154d69e7a0ffb0fb81c06b37543f"
+
 [[package]]
 name = "subtle"
 version = "2.5.0"
@@ -1353,9 +1369,9 @@ dependencies = [
 
 [[package]]
 name = "syn"
-version = "2.0.29"
+version = "2.0.60"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c324c494eba9d92503e6f1ef2e6df781e78f6a7705a0202d9801b198807d518a"
+checksum = "909518bc7b1c9b779f1bbf07f2929d35af9f0f37e47c6e9ef7f9dddc1e1821f3"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1364,44 +1380,55 @@ dependencies = [
 
 [[package]]
 name = "test-case"
-version = "2.2.2"
+version = "3.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "21d6cf5a7dffb3f9dceec8e6b8ca528d9bd71d36c9f074defb548ce161f598c0"
+checksum = "eb2550dd13afcd286853192af8601920d959b14c401fcece38071d53bf0768a8"
 dependencies = [
  "test-case-macros",
 ]
 
 [[package]]
-name = "test-case-macros"
-version = "2.2.2"
+name = "test-case-core"
+version = "3.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e45b7bf6e19353ddd832745c8fcf77a17a93171df7151187f26623f2b75b5b26"
+checksum = "adcb7fd841cd518e279be3d5a3eb0636409487998a4aff22f3de87b81e88384f"
 dependencies = [
  "cfg-if",
- "proc-macro-error",
  "proc-macro2",
  "quote",
- "syn 1.0.109",
+ "syn 2.0.60",
+]
+
+[[package]]
+name = "test-case-macros"
+version = "3.3.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "5c89e72a01ed4c579669add59014b9a524d609c0c88c6a585ce37485879f6ffb"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "syn 2.0.60",
+ "test-case-core",
 ]
 
 [[package]]
 name = "thiserror"
-version = "1.0.47"
+version = "1.0.59"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "97a802ec30afc17eee47b2855fc72e0c4cd62be9b4efe6591edde0ec5bd68d8f"
+checksum = "f0126ad08bff79f29fc3ae6a55cc72352056dfff61e3ff8bb7129476d44b23aa"
 dependencies = [
  "thiserror-impl",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.47"
+version = "1.0.59"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6bb623b56e39ab7dcd4b1b98bb6c8f8d907ed255b18de254088016b27a8ee19b"
+checksum = "d1cd413b5d558b4c5bf3680e324a6fa5014e7b7c067a51e69dbdf47eb7148b66"
 dependencies = [
  "proc-macro2",
  "quote",
- "syn 2.0.29",
+ "syn 2.0.60",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index 75bc5816..9a4b76ad 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -25,23 +25,23 @@ mesh-simple-price-feed    = { path = "./contracts/consumer/simple-price-feed" }
 mesh-virtual-staking    = { path = "./contracts/consumer/virtual-staking" }
 
 sylvia           = "0.8.1"
-cosmwasm-schema  = "1.3.3"
-cosmwasm-std     = { version = "1.3.3", features = ["ibc3", "cosmwasm_1_3"] }
-cw-storage-plus  = "1.1.0"
-cw-utils         = "1.0.1"
-cw2              = "1.0.1"
+cosmwasm-schema  = "1.5.4"
+cosmwasm-std     = { version = "1.5.4", features = ["ibc3", "cosmwasm_1_3"] }
+cw-storage-plus  = "1.2.0"
+cw-utils         = "1.0.3"
+cw2              = "1.1.2"
 osmosis-std      = "0.20.1"
-schemars         = "0.8.11"
-serde            = { version = "1.0.152", default-features = false, features = ["derive"] }
-thiserror        = "1.0.38"
-semver = "1.0.4"
-itertools = "0.11.0"
+schemars         = "0.8.17"
+serde            = { version = "1.0.199", default-features = false, features = ["derive"] }
+thiserror        = "1.0.59"
+semver = "1.0.22"
+itertools = "0.12.1"
 
 # dev deps
 anyhow        = "1"
 cw-multi-test = "0.16.5"
 derivative    = "2"
-test-case     = "2.2.0"
+test-case     = "3.3.1"
 
 [profile.release]
 codegen-units    = 1
diff --git a/contracts/consumer/converter/src/multitest.rs b/contracts/consumer/converter/src/multitest.rs
index 4b9ee564..84b723e0 100644
--- a/contracts/consumer/converter/src/multitest.rs
+++ b/contracts/consumer/converter/src/multitest.rs
@@ -352,7 +352,9 @@ fn valset_update_works() {
     assert_eq!(
         res.unwrap_err(),
         ContractError::Std(StdError::NotFound {
-            kind: "cosmwasm_std::ibc::IbcChannel".to_string()
+            kind:
+                "type: cosmwasm_std::ibc::IbcChannel; key: [69, 62, 63, 5F, 63, 68, 61, 6E, 6E, 65, 6C]"
+                    .to_string()
         })
     );
 }
diff --git a/packages/apis/src/ibc/version.rs b/packages/apis/src/ibc/version.rs
index 693b2b9d..5c13f230 100644
--- a/packages/apis/src/ibc/version.rs
+++ b/packages/apis/src/ibc/version.rs
@@ -1,4 +1,4 @@
-use cosmwasm_std::{to_vec, IbcOrder, StdResult};
+use cosmwasm_std::{to_json_vec, IbcOrder, StdResult};
 use schemars::JsonSchema;
 use semver::Version;
 use serde::{Deserialize, Serialize};
@@ -108,7 +108,7 @@ impl ProtocolVersion {
     }
 
     pub fn to_string(&self) -> StdResult<String> {
-        let bytes = to_vec(self)?;
+        let bytes = to_json_vec(self)?;
         Ok(String::from_utf8(bytes)?)
     }
 }