diff --git a/Cargo.lock b/Cargo.lock
index 8cb636d3b09..c9b0c3576b8 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -7795,12 +7795,12 @@ checksum = "b7c388c1b5e93756d0c740965c41e8822f866621d41acbdf6336a6a168f8840c"
 
 [[package]]
 name = "smol_str"
-version = "0.3.2"
+version = "0.3.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9676b89cd56310a87b93dec47b11af744f34d5fc9f367b829474eec0a891350d"
+checksum = "3498b0a27f93ef1402f20eefacfaa1691272ac4eca1cdc8c596cb0a245d6cbf5"
 dependencies = [
  "borsh",
- "serde",
+ "serde_core",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index a06827bb0e3..16d94f772f8 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -226,7 +226,7 @@ sha2                               = { version = "=0.10.9", default-features = f
 similar-asserts                    = { version = "=1.7.0", default-features = false }
 simple-mermaid                     = { version = "=0.2.0", default-features = false }
 smallvec                           = { version = "=2.0.0-alpha.11", default-features = false }
-smol_str                           = { version = "=0.3.2" }
+smol_str                           = { version = "=0.3.4" }
 specta                             = { version = "=2.0.0-rc.22", default-features = false }
 supports-color                     = { version = "=3.0.2", default-features = false }
 supports-unicode                   = { version = "=3.0.0", default-features = false }