diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9b53c71d0..6a1f9ce66 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,7 @@
 - (bump) Use cosmos-sdk package v0.47.8 / ibc-go v7.2.3
 - (bump) replace github.com/tendermint/tendermint by github.com/cometbft/cometbft v0.37.4
 - (bump) migrated from gogo/protobuf to cosmos/gogoproto
+- (bump) Use go-owasm v0.3.1
 - (chain) Remove disablefeeless flag
 - (chain) Remove old oracle ante
 - (chain) Remove legacy migrate cmd
diff --git a/go.mod b/go.mod
index 89daa008b..50babfcc7 100644
--- a/go.mod
+++ b/go.mod
@@ -8,7 +8,7 @@ require (
 	cosmossdk.io/api v0.3.1
 	cosmossdk.io/errors v1.0.1
 	cosmossdk.io/math v1.3.0
-	github.com/bandprotocol/go-owasm v0.2.3
+	github.com/bandprotocol/go-owasm v0.3.1
 	github.com/cometbft/cometbft v0.37.4
 	github.com/cometbft/cometbft-db v0.10.0
 	github.com/confio/ics23/go v0.9.0
diff --git a/go.sum b/go.sum
index b99d38125..97f99bce5 100644
--- a/go.sum
+++ b/go.sum
@@ -250,8 +250,8 @@ github.com/aws/aws-sdk-go v1.44.122/go.mod h1:y4AeaBuwd2Lk+GepC1E9v0qOiTws0MIWAX
 github.com/aws/aws-sdk-go v1.44.203 h1:pcsP805b9acL3wUqa4JR2vg1k2wnItkDYNvfmcy6F+U=
 github.com/aws/aws-sdk-go v1.44.203/go.mod h1:aVsgQcEevwlmQ7qHE9I3h+dtQgpqhFB+i8Phjh7fkwI=
 github.com/aws/aws-sdk-go-v2 v0.18.0/go.mod h1:JWVYvqSMppoMJC0x5wdwiImzgXTI9FuZwxzkQq9wy+g=
-github.com/bandprotocol/go-owasm v0.2.3 h1:AGvsUPNKmi+jwY+ZaVePkpeygpav86IK/t/icmTI2fo=
-github.com/bandprotocol/go-owasm v0.2.3/go.mod h1:G1ZNqG9+h3Ye82odMF+SWknV0m41Q3Zu6qSKf1vJrHU=
+github.com/bandprotocol/go-owasm v0.3.1 h1:L38qAEmb0KyTICHBHJaBoo6yy5+BlbOzQeQ+ioUV5Uw=
+github.com/bandprotocol/go-owasm v0.3.1/go.mod h1:SAzGihlBl8eZDXA1dO2aeAZLm8J2QkNd+KvnA2Dw9Kg=
 github.com/beorn7/perks v0.0.0-20180321164747-3a771d992973/go.mod h1:Dwedo/Wpr24TaqPxmxbtue+5NUziq4I4S80YR8gNf3Q=
 github.com/beorn7/perks v1.0.0/go.mod h1:KWe93zE9D1o94FZ5RNwFwVgaQK1VOXiVxmqh+CedLV8=
 github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=