diff --git a/Cargo.lock b/Cargo.lock
index 1703c1f5e59..7ea3a343f34 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -733,9 +733,9 @@ checksum = "8d696c370c750c948ada61c69a0ee2cbbb9c50b1019ddb86d9317157a99c2cae"
 
 [[package]]
 name = "bounded-collections"
-version = "0.1.5"
+version = "0.1.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a071c348a5ef6da1d3a87166b408170b46002382b1dda83992b5c2208cefb370"
+checksum = "07fbd1d11282a1eb134d3c3b7cf8ce213b5161c6e5f73fb1b98618482c606b64"
 dependencies = [
  "log",
  "parity-scale-codec",
diff --git a/parachain-template/pallets/template/Cargo.toml b/parachain-template/pallets/template/Cargo.toml
index f47d82c9798..1ccdc6622ba 100644
--- a/parachain-template/pallets/template/Cargo.toml
+++ b/parachain-template/pallets/template/Cargo.toml
@@ -21,7 +21,7 @@ frame-support = { git = "https://github.com/paritytech/substrate", default-featu
 frame-system = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }
 
 [dev-dependencies]
-serde = { version = "1.0.132" }
+serde = { version = "1.0.163" }
 
 # Substrate
 sp-core = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }