diff --git a/Cargo.lock b/Cargo.lock
index 7a9bac1..637c31f 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -8703,18 +8703,18 @@ checksum = "388a1df253eca08550bef6c72392cfe7c30914bf41df5269b68cbd6ff8f570a3"
 
 [[package]]
 name = "serde"
-version = "1.0.197"
+version = "1.0.199"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3fb1c873e1b9b056a4dc4c0c198b24c3ffa059243875552b2bd0933b1aee4ce2"
+checksum = "0c9f6e76df036c77cd94996771fb40db98187f096dd0b9af39c6c6e452ba966a"
 dependencies = [
  "serde_derive",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.197"
+version = "1.0.199"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7eb0b34b42edc17f6b7cac84a52a1c5f0e1bb2227e997ca9011ea3dd34e8610b"
+checksum = "11bd257a6541e141e42ca6d24ae26f7714887b47e89aa739099104c7e4d3b7fc"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/Cargo.toml b/Cargo.toml
index 433c90f..7c33ace 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -30,7 +30,7 @@ static_assertions = "1.1.0"
 # third-party dependencies
 clap = { version = "4.2.5", features = ["derive"]}
 codec = { package = "parity-scale-codec", version = "3.6.1" }
-serde = { version = "1.0.163", features = ["derive"] }
+serde = { version = "1.0.199", features = ["derive"] }
 jsonrpsee = { version = "0.16.2", features = ["server"] }
 futures = "0.3.21"
 rand = "0.8"