diff --git a/protocol/Dockerfile b/protocol/Dockerfile
index 3cbe63f5e7..f57030c769 100644
--- a/protocol/Dockerfile
+++ b/protocol/Dockerfile
@@ -14,7 +14,7 @@ ARG GOLANG_1_22_ALPINE_DIGEST="cdc86d9f363e8786845bea2040312b4efa321b828acdeb26f
 FROM golang@sha256:${GOLANG_1_22_ALPINE_DIGEST} as builder
 ARG VERSION
 ARG COMMIT
-ARG WASMVM_VERSION=v1.5.2
+ARG WASMVM_VERSION=v1.5.4
 
 RUN set -eux; apk add --no-cache ca-certificates build-base; apk add git linux-headers bash binutils-gold
 
diff --git a/protocol/go.mod b/protocol/go.mod
index 3ad55bc6fb..cd750e9cf0 100644
--- a/protocol/go.mod
+++ b/protocol/go.mod
@@ -52,7 +52,7 @@ require (
 	cosmossdk.io/x/tx v0.13.4
 	cosmossdk.io/x/upgrade v0.1.4
 	github.com/CosmWasm/wasmd v0.50.0
-	github.com/CosmWasm/wasmvm v1.5.2
+	github.com/CosmWasm/wasmvm v1.5.4
 	github.com/burdiyan/kafkautil v0.0.0-20190131162249-eaf83ed22d5b
 	github.com/cosmos/cosmos-db v1.0.2
 	github.com/cosmos/iavl v1.1.2
diff --git a/protocol/go.sum b/protocol/go.sum
index 9141ee2917..330e0256a7 100644
--- a/protocol/go.sum
+++ b/protocol/go.sum
@@ -628,10 +628,10 @@ cosmossdk.io/x/evidence v0.1.0 h1:J6OEyDl1rbykksdGynzPKG5R/zm6TacwW2fbLTW4nCk=
 cosmossdk.io/x/evidence v0.1.0/go.mod h1:hTaiiXsoiJ3InMz1uptgF0BnGqROllAN8mwisOMMsfw=
 cosmossdk.io/x/feegrant v0.1.0 h1:c7s3oAq/8/UO0EiN1H5BIjwVntujVTkYs35YPvvrdQk=
 cosmossdk.io/x/feegrant v0.1.0/go.mod h1:4r+FsViJRpcZif/yhTn+E0E6OFfg4n0Lx+6cCtnZElU=
-cosmossdk.io/x/tx v0.13.4 h1:Eg0PbJgeO0gM8p5wx6xa0fKR7hIV6+8lC56UrsvSo0Y=
-cosmossdk.io/x/tx v0.13.4/go.mod h1:BkFqrnGGgW50Y6cwTy+JvgAhiffbGEKW6KF9ufcDpvk=
 cosmossdk.io/x/nft v0.1.0 h1:VhcsFiEK33ODN27kxKLa0r/CeFd8laBfbDBwYqCyYCM=
 cosmossdk.io/x/nft v0.1.0/go.mod h1:ec4j4QAO4mJZ+45jeYRnW7awLHby1JZANqe1hNZ4S3g=
+cosmossdk.io/x/tx v0.13.4 h1:Eg0PbJgeO0gM8p5wx6xa0fKR7hIV6+8lC56UrsvSo0Y=
+cosmossdk.io/x/tx v0.13.4/go.mod h1:BkFqrnGGgW50Y6cwTy+JvgAhiffbGEKW6KF9ufcDpvk=
 cosmossdk.io/x/upgrade v0.1.1 h1:aoPe2gNvH+Gwt/Pgq3dOxxQVU3j5P6Xf+DaUJTDZATc=
 cosmossdk.io/x/upgrade v0.1.1/go.mod h1:MNLptLPcIFK9CWt7Ra//8WUZAxweyRDNcbs5nkOcQy0=
 dmitri.shuralyov.com/gpu/mtl v0.0.0-20190408044501-666a987793e9/go.mod h1:H6x//7gZCb22OMCxBHrMx7a5I7Hp++hsVxbQ4BYO7hU=
@@ -659,12 +659,12 @@ github.com/BurntSushi/toml v0.3.1/go.mod h1:xHWCNGjB5oqiDr8zfno3MHue2Ht5sIBksp03
 github.com/BurntSushi/toml v1.4.0 h1:kuoIxZQy2WRRk1pttg9asf+WVv6tWQuBNVmK8+nqPr0=
 github.com/BurntSushi/toml v1.4.0/go.mod h1:ukJfTF/6rtPPRCnwkur4qwRxa8vTRFBF0uk2lLoLwho=
 github.com/BurntSushi/xgb v0.0.0-20160522181843-27f122750802/go.mod h1:IVnqGOEym/WlBOVXweHU+Q+/VP0lqqI8lqeDx9IjBqo=
-github.com/Crocmagnon/fatcontext v0.2.2 h1:OrFlsDdOj9hW/oBEJBNSuH7QWf+E9WPVHw+x52bXVbk=
-github.com/Crocmagnon/fatcontext v0.2.2/go.mod h1:WSn/c/+MMNiD8Pri0ahRj0o9jVpeowzavOQplBJw6u0=
 github.com/CosmWasm/wasmd v0.50.0 h1:NVaGqCSTRfb9UTDHJwT6nQIWcb6VjlQl88iI+u1+qjE=
 github.com/CosmWasm/wasmd v0.50.0/go.mod h1:UjmShW4l9YxaMytwJZ7IB7MWzHiynSZP3DdWrG0FRtk=
-github.com/CosmWasm/wasmvm v1.5.2 h1:+pKB1Mz9GZVt1vadxB+EDdD1FOz3dMNjIKq/58/lrag=
-github.com/CosmWasm/wasmvm v1.5.2/go.mod h1:Q0bSEtlktzh7W2hhEaifrFp1Erx11ckQZmjq8FLCyys=
+github.com/CosmWasm/wasmvm v1.5.4 h1:Opqy65ubJ8bMsT08dn85VjRdsLJVPIAgIXif92qOMGc=
+github.com/CosmWasm/wasmvm v1.5.4/go.mod h1:Q0bSEtlktzh7W2hhEaifrFp1Erx11ckQZmjq8FLCyys=
+github.com/Crocmagnon/fatcontext v0.2.2 h1:OrFlsDdOj9hW/oBEJBNSuH7QWf+E9WPVHw+x52bXVbk=
+github.com/Crocmagnon/fatcontext v0.2.2/go.mod h1:WSn/c/+MMNiD8Pri0ahRj0o9jVpeowzavOQplBJw6u0=
 github.com/DataDog/datadog-agent/pkg/obfuscate v0.0.0-20211129110424-6491aa3bf583 h1:3nVO1nQyh64IUY6BPZUpMYMZ738Pu+LsMt3E0eqqIYw=
 github.com/DataDog/datadog-agent/pkg/obfuscate v0.0.0-20211129110424-6491aa3bf583/go.mod h1:EP9f4GqaDJyP1F5jTNMtzdIpw3JpNs3rMSJOnYywCiw=
 github.com/DataDog/datadog-agent/pkg/remoteconfig/state v0.42.0-rc.1 h1:Rmz52Xlc5k3WzAHzD0SCH4USCzyti7EbK4HtrHys3ME=