diff --git a/.circleci/config.yml b/.circleci/config.yml
index 9f972920d..f30230fd0 100644
--- a/.circleci/config.yml
+++ b/.circleci/config.yml
@@ -7,7 +7,7 @@ jobs:
   # All checks on the codebase that can run in parallel to build_shared_library
   libwasmvm_sanity:
     docker:
-      - image: cimg/rust:1.67.0
+      - image: cimg/rust:1.70.0
     steps:
       - checkout
       - run:
@@ -18,8 +18,8 @@ jobs:
           command: rustup component add rustfmt
       - restore_cache:
           keys:
-            - cargocache-v3-libwasmvm_sanity-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
-            - cargocache-v3-libwasmvm_sanity-rust:1.67.0-
+            - cargocache-v3-libwasmvm_sanity-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
+            - cargocache-v3-libwasmvm_sanity-rust:1.70.0-
       - run:
           name: Ensure libwasmvm/bindings.h is up-to-date
           working_directory: libwasmvm
@@ -62,7 +62,7 @@ jobs:
             - libwasmvm/target/release/.fingerprint
             - libwasmvm/target/release/build
             - libwasmvm/target/release/deps
-          key: cargocache-v3-libwasmvm_sanity-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
+          key: cargocache-v3-libwasmvm_sanity-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
 
   libwasmvm_clippy:
     parameters:
@@ -113,15 +113,15 @@ jobs:
           command: |
             set -o errexit
             curl -sS --output rustup-init.exe https://static.rust-lang.org/rustup/dist/x86_64-pc-windows-msvc/rustup-init.exe
-            ./rustup-init.exe --no-modify-path --profile minimal --default-toolchain 1.67.0 -y
+            ./rustup-init.exe --no-modify-path --profile minimal --default-toolchain 1.70.0 -y
             echo 'export PATH="$PATH;$USERPROFILE/.cargo/bin"' >> "$BASH_ENV"
       - run:
           name: Show Rust version information
           command: rustc --version; cargo --version; rustup --version
       - restore_cache:
           keys:
-            - cachev4-libwasmvm_sanity_windows-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
-            - cachev4-libwasmvm_sanity_windows-rust:1.67.0-
+            - cachev4-libwasmvm_sanity_windows-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
+            - cachev4-libwasmvm_sanity_windows-rust:1.70.0-
       - run:
           name: Run unit tests
           working_directory: libwasmvm
@@ -133,13 +133,13 @@ jobs:
             - libwasmvm/target/debug/.fingerprint
             - libwasmvm/target/debug/build
             - libwasmvm/target/debug/deps
-          key: cachev4-libwasmvm_sanity_windows-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
+          key: cachev4-libwasmvm_sanity_windows-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
 
   libwasmvm_audit:
     docker:
       # The audit tool might use a more modern Rust version than the build jobs. See
       # "Tooling Rust compiler" in docs/COMPILER_VERSIONS.md
-      - image: cimg/rust:1.69.0
+      - image: cimg/rust:1.70.0
     steps:
       - checkout
       - run:
@@ -152,8 +152,8 @@ jobs:
           command: rustc --version; cargo --version; rustup --version
       - restore_cache:
           keys:
-            - cargocache-v3-libwasmvm_audit-rust:1.69.0-{{ checksum "libwasmvm/Cargo.lock" }}
-            - cargocache-v3-libwasmvm_audit-rust:1.69.0-
+            - cargocache-v3-libwasmvm_audit-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
+            - cargocache-v3-libwasmvm_audit-rust:1.70.0-
       - run:
           name: Install cargo-audit
           command: cargo install --debug cargo-audit --version 0.17.6
@@ -164,7 +164,7 @@ jobs:
       - save_cache:
           paths:
             - ~/.cargo/registry
-          key: cargocache-v3-libwasmvm_audit-rust:1.69.0-{{ checksum "libwasmvm/Cargo.lock" }}
+          key: cargocache-v3-libwasmvm_audit-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
 
   format-go:
     docker:
@@ -248,7 +248,7 @@ jobs:
 
   build_shared_library:
     docker:
-      - image: cimg/rust:1.67.0
+      - image: cimg/rust:1.70.0
     steps:
       - checkout
       - run:
@@ -256,8 +256,8 @@ jobs:
           command: rustc --version; cargo --version; rustup --version
       - restore_cache:
           keys:
-            - cargocache-v3-build_shared_library-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
-            - cargocache-v3-build_shared_library-rust:1.67.0-
+            - cargocache-v3-build_shared_library-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
+            - cargocache-v3-build_shared_library-rust:1.70.0-
       - run:
           name: Create release build of libwasmvm
           command: make build-rust
@@ -274,7 +274,7 @@ jobs:
             - libwasmvm/target/release/.fingerprint
             - libwasmvm/target/release/build
             - libwasmvm/target/release/deps
-          key: cargocache-v3-build_shared_library-rust:1.67.0-{{ checksum "libwasmvm/Cargo.lock" }}
+          key: cargocache-v3-build_shared_library-rust:1.70.0-{{ checksum "libwasmvm/Cargo.lock" }}
 
   # Test the Go project
   wasmvm_test:
@@ -420,7 +420,7 @@ workflows:
           matrix:
             parameters:
               # Run with MSRV and some modern stable Rust
-              rust-version: ["1.67.0", "1.73.0"]
+              rust-version: ["1.70.0", "1.73.0"]
       - libwasmvm_audit
       - format-go
       - wasmvm_no_cgo
diff --git a/Makefile b/Makefile
index e198dc999..b6b64700c 100644
--- a/Makefile
+++ b/Makefile
@@ -1,9 +1,9 @@
 .PHONY: all build build-rust build-go test
 
 # Builds the Rust library libwasmvm
-BUILDERS_PREFIX := cosmwasm/go-ext-builder:0016
+BUILDERS_PREFIX := cosmwasm/go-ext-builder:0017
 # Contains a full Go dev environment in order to run Go tests on the built library
-ALPINE_TESTER := cosmwasm/go-ext-builder:0016-alpine
+ALPINE_TESTER := cosmwasm/go-ext-builder:0017-alpine
 
 USER_ID := $(shell id -u)
 USER_GROUP = $(shell id -g)
diff --git a/docs/COMPILER_VERSIONS.md b/docs/COMPILER_VERSIONS.md
index 333cd8869..d20d6b196 100644
--- a/docs/COMPILER_VERSIONS.md
+++ b/docs/COMPILER_VERSIONS.md
@@ -64,5 +64,5 @@ We currently use the following version:
 | Type                     | Rust version | Note                              |
 | ------------------------ | ------------ | --------------------------------- |
 | Production Rust compiler | 1.73.0       | Builders version 0017             |
-| Min Rust compiler        | 1.67.0       | Supports builder versions >= 0015 |
-| Tooling Rust compiler    | 1.69.0       |                                   |
+| Min Rust compiler        | 1.70.0       | Supports builder versions >= 0017 |
+| Tooling Rust compiler    | 1.70.0       |                                   |
diff --git a/internal/api/lib_test.go b/internal/api/lib_test.go
index e967ce48e..9ab03c13a 100644
--- a/internal/api/lib_test.go
+++ b/internal/api/lib_test.go
@@ -2,11 +2,13 @@ package api
 
 import (
 	"crypto/sha256"
+	"encoding/hex"
 	"encoding/json"
 	"fmt"
 	"io/ioutil"
 	"os"
 	"path/filepath"
+	"strings"
 	"testing"
 	"time"
 
@@ -907,6 +909,10 @@ func createReflectContract(t *testing.T, cache Cache) []byte {
 	return createContract(t, cache, "../../testdata/reflect.wasm")
 }
 
+func createFloaty2(t *testing.T, cache Cache) []byte {
+	return createContract(t, cache, "../../testdata/floaty_2.0.wasm")
+}
+
 func createContract(t *testing.T, cache Cache, wasmFile string) []byte {
 	wasm, err := ioutil.ReadFile(wasmFile)
 	require.NoError(t, err)
@@ -1055,3 +1061,100 @@ func TestCustomReflectQuerier(t *testing.T) {
 	require.NoError(t, err)
 	require.Equal(t, "SMALL FRYS :)", response.Text)
 }
+
+// TestFloats is a port of the float_instrs_are_deterministic test in cosmwasm-vm
+func TestFloats(t *testing.T) {
+	type Value struct {
+		U32 *uint32 `json:"u32,omitempty"`
+		U64 *uint64 `json:"u64,omitempty"`
+		F32 *uint32 `json:"f32,omitempty"`
+		F64 *uint64 `json:"f64,omitempty"`
+	}
+
+	// helper to print the value in the same format as Rust's Debug trait
+	debugStr := func(value Value) string {
+		if value.U32 != nil {
+			return fmt.Sprintf("U32(%d)", *value.U32)
+		} else if value.U64 != nil {
+			return fmt.Sprintf("U64(%d)", *value.U64)
+		} else if value.F32 != nil {
+			return fmt.Sprintf("F32(%d)", *value.F32)
+		} else if value.F64 != nil {
+			return fmt.Sprintf("F64(%d)", *value.F64)
+		} else {
+			t.FailNow()
+			return ""
+		}
+	}
+
+	cache, cleanup := withCache(t)
+	defer cleanup()
+	checksum := createFloaty2(t, cache)
+
+	gasMeter := NewMockGasMeter(TESTING_GAS_LIMIT)
+	igasMeter := types.GasMeter(gasMeter)
+	// instantiate it with this store
+	store := NewLookup(gasMeter)
+	api := NewMockAPI()
+	querier := DefaultQuerier(MOCK_CONTRACT_ADDR, nil)
+	env := MockEnvBin(t)
+
+	// query instructions
+	query := []byte(`{"instructions":{}}`)
+	data, _, err := Query(cache, checksum, env, query, &igasMeter, store, api, &querier, TESTING_GAS_LIMIT, TESTING_PRINT_DEBUG)
+	require.NoError(t, err)
+	var qres types.QueryResponse
+	err = json.Unmarshal(data, &qres)
+	require.NoError(t, err)
+	require.Equal(t, "", qres.Err)
+	var instructions []string
+	err = json.Unmarshal(qres.Ok, &instructions)
+	require.NoError(t, err)
+	// little sanity check
+	require.Equal(t, 70, len(instructions))
+
+	hasher := sha256.New()
+	const RUNS_PER_INSTRUCTION = 150
+	for _, instr := range instructions {
+		for seed := 0; seed < RUNS_PER_INSTRUCTION; seed++ {
+			// query some input values for the instruction
+			msg := fmt.Sprintf(`{"random_args_for":{"instruction":"%s","seed":%d}}`, instr, seed)
+			data, _, err = Query(cache, checksum, env, []byte(msg), &igasMeter, store, api, &querier, TESTING_GAS_LIMIT, TESTING_PRINT_DEBUG)
+			require.NoError(t, err)
+			err = json.Unmarshal(data, &qres)
+			require.NoError(t, err)
+			require.Equal(t, "", qres.Err)
+			var args []Value
+			err = json.Unmarshal(qres.Ok, &args)
+			require.NoError(t, err)
+
+			// build the run message
+			argStr, err := json.Marshal(args)
+			require.NoError(t, err)
+			msg = fmt.Sprintf(`{"run":{"instruction":"%s","args":%s}}`, instr, argStr)
+
+			// run the instruction
+			// this might throw a runtime error (e.g. if the instruction traps)
+			data, _, err = Query(cache, checksum, env, []byte(msg), &igasMeter, store, api, &querier, TESTING_GAS_LIMIT, TESTING_PRINT_DEBUG)
+			var result string
+			if err != nil {
+				assert.ErrorContains(t, err, "Error calling the VM: Error executing Wasm: ")
+				// remove the prefix to make the error message the same as in the cosmwasm-vm test
+				result = strings.Replace(err.Error(), "Error calling the VM: Error executing Wasm: ", "", 1)
+			} else {
+				err = json.Unmarshal(data, &qres)
+				require.NoError(t, err)
+				require.Equal(t, "", qres.Err)
+				var response Value
+				err = json.Unmarshal(qres.Ok, &response)
+				require.NoError(t, err)
+				result = debugStr(response)
+			}
+			// add the result to the hash
+			hasher.Write([]byte(fmt.Sprintf("%s%d%s", instr, seed, result)))
+		}
+	}
+
+	hash := hasher.Sum(nil)
+	require.Equal(t, "95f70fa6451176ab04a9594417a047a1e4d8e2ff809609b8f81099496bee2393", hex.EncodeToString(hash))
+}
diff --git a/libwasmvm/Cargo.lock b/libwasmvm/Cargo.lock
index 585c9b234..80c96d4f2 100644
--- a/libwasmvm/Cargo.lock
+++ b/libwasmvm/Cargo.lock
@@ -84,6 +84,12 @@ version = "1.6.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "8c3c1a368f70d6cf7302d78f8f7093da241fb8e8807c05cc9e51a125895a6d5b"
 
+[[package]]
+name = "bech32"
+version = "0.9.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d86b93f97252c47b41663388e6d155714a9d0c398b99f1005cbc5f978b29f445"
+
 [[package]]
 name = "bitflags"
 version = "1.3.2"
@@ -223,9 +229,9 @@ dependencies = [
 
 [[package]]
 name = "clru"
-version = "0.4.0"
+version = "0.6.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "591ff76ca0691bd91c1b0b5b987e5cf93b21ec810ad96665c5a569c60846dd93"
+checksum = "b8191fa7302e03607ff0e237d4246cc043ff5b3cb9409d995172ba3bea16b807"
 
 [[package]]
 name = "const-oid"
@@ -248,10 +254,11 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-crypto"
-version = "1.4.1"
-source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.4.1#9410fa2f76e576d3eaa2a0a53036d4a97e2705fe"
+version = "1.5.0-rc.0"
+source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.5.0-rc.0#d41afdda656eda81695fb80ff47e73ed13017965"
 dependencies = [
  "digest 0.10.7",
+ "ecdsa",
  "ed25519-zebra",
  "k256",
  "rand_core 0.6.4",
@@ -260,18 +267,19 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-derive"
-version = "1.4.1"
-source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.4.1#9410fa2f76e576d3eaa2a0a53036d4a97e2705fe"
+version = "1.5.0-rc.0"
+source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.5.0-rc.0#d41afdda656eda81695fb80ff47e73ed13017965"
 dependencies = [
  "syn 1.0.109",
 ]
 
 [[package]]
 name = "cosmwasm-std"
-version = "1.4.1"
-source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.4.1#9410fa2f76e576d3eaa2a0a53036d4a97e2705fe"
+version = "1.5.0-rc.0"
+source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.5.0-rc.0#d41afdda656eda81695fb80ff47e73ed13017965"
 dependencies = [
  "base64",
+ "bech32",
  "bnum",
  "cosmwasm-crypto",
  "cosmwasm-derive",
@@ -282,13 +290,14 @@ dependencies = [
  "serde",
  "serde-json-wasm",
  "sha2 0.10.7",
+ "static_assertions",
  "thiserror",
 ]
 
 [[package]]
 name = "cosmwasm-vm"
-version = "1.4.1"
-source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.4.1#9410fa2f76e576d3eaa2a0a53036d4a97e2705fe"
+version = "1.5.0-rc.0"
+source = "git+https://github.com/CosmWasm/cosmwasm.git?rev=v1.5.0-rc.0#d41afdda656eda81695fb80ff47e73ed13017965"
 dependencies = [
  "bitflags",
  "bytecheck",
@@ -444,6 +453,16 @@ dependencies = [
  "scopeguard",
 ]
 
+[[package]]
+name = "crossbeam-queue"
+version = "0.3.8"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d1cfb3ea8a53f37c40dea2c7bedcbd88bdfae54f5e2175d6ecaff1c988353add"
+dependencies = [
+ "cfg-if",
+ "crossbeam-utils",
+]
+
 [[package]]
 name = "crossbeam-utils"
 version = "0.8.16"
@@ -612,7 +631,7 @@ checksum = "64fba5a42bd76a17cad4bfa00de168ee1cbfa06a5e8ce992ae880218c05641a9"
 dependencies = [
  "byteorder",
  "dynasm",
- "memmap2",
+ "memmap2 0.5.10",
 ]
 
 [[package]]
@@ -1052,6 +1071,15 @@ dependencies = [
  "libc",
 ]
 
+[[package]]
+name = "memmap2"
+version = "0.6.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "6d28bba84adfe6646737845bc5ebbfa2c08424eb1c37e94a1fd2a82adb56a872"
+dependencies = [
+ "libc",
+]
+
 [[package]]
 name = "memoffset"
 version = "0.8.0"
@@ -1419,6 +1447,12 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "self_cell"
+version = "1.0.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4c309e515543e67811222dbc9e3dd7e1056279b782e1dacffe4242b718734fb6"
+
 [[package]]
 name = "serde"
 version = "1.0.188"
@@ -1505,6 +1539,16 @@ dependencies = [
  "digest 0.10.7",
 ]
 
+[[package]]
+name = "shared-buffer"
+version = "0.1.3"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "2cf61602ee61e2f83dd016b3e6387245291cf728ea071c378b35088125b4d995"
+dependencies = [
+ "bytes",
+ "memmap2 0.6.2",
+]
+
 [[package]]
 name = "signature"
 version = "2.1.0"
@@ -1549,6 +1593,12 @@ version = "1.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a8f112729512f8e442d81f95a8a7ddf2b7c6b8a1a6f509a95864142b30cab2d3"
 
+[[package]]
+name = "static_assertions"
+version = "1.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a2eb9349b6444b326872e140eb1cf5e7c522154d69e7a0ffb0fb81c06b37543f"
+
 [[package]]
 name = "strsim"
 version = "0.10.0"
@@ -1863,9 +1913,9 @@ checksum = "ca6ad05a4870b2bf5fe995117d3728437bd27d7cd5f06f13c17443ef369775a1"
 
 [[package]]
 name = "wasmer"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fc7142dbb91ede83cc0aef2301fa75fcc7e0c9e5a7d5358e3c4f3a7249fe9ce8"
+checksum = "0e626f958755a90a6552b9528f59b58a62ae288e6c17fcf40e99495bc33c60f0"
 dependencies = [
  "bytes",
  "cfg-if",
@@ -1876,6 +1926,7 @@ dependencies = [
  "rustc-demangle",
  "serde",
  "serde-wasm-bindgen",
+ "shared-buffer",
  "target-lexicon",
  "thiserror",
  "wasm-bindgen",
@@ -1891,19 +1942,23 @@ dependencies = [
 
 [[package]]
 name = "wasmer-compiler"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e5b99c70711ec7631b602a9fc95577c40df21e8f3916159c9d80c3fb4f77abdc"
+checksum = "848e1922694cf97f4df680a0534c9d72c836378b5eb2313c1708fe1a75b40044"
 dependencies = [
  "backtrace",
+ "bytes",
  "cfg-if",
  "enum-iterator",
  "enumset",
  "lazy_static",
  "leb128",
- "memmap2",
+ "memmap2 0.5.10",
  "more-asserts",
  "region",
+ "rkyv",
+ "self_cell",
+ "shared-buffer",
  "smallvec",
  "thiserror",
  "wasmer-types",
@@ -1914,9 +1969,9 @@ dependencies = [
 
 [[package]]
 name = "wasmer-compiler-cranelift"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "52aef2ef35513a04fed54de9a7dc9c469d4742a5c2e378a5f7e2a79b1327e3bd"
+checksum = "3d96bce6fad15a954edcfc2749b59e47ea7de524b6ef3df392035636491a40b4"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
@@ -1933,9 +1988,9 @@ dependencies = [
 
 [[package]]
 name = "wasmer-compiler-singlepass"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ebfd019aa98b19fea0fb1d8db9b539145c9416d183ce4cda4e8e024b2c890aac"
+checksum = "ebaa865b40ffb3351b03dab9fe9930a5248c25daebd55b464b79b862d9b55ccd"
 dependencies = [
  "byteorder",
  "dynasm",
@@ -1952,9 +2007,9 @@ dependencies = [
 
 [[package]]
 name = "wasmer-derive"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "25bb1425c9e4dc3e2d3aacd6e82e22e27a3127379e0d09bcbdf25ff376229162"
+checksum = "7f08f80d166a9279671b7af7a09409c28ede2e0b4e3acabbf0e3cb22c8038ba7"
 dependencies = [
  "proc-macro-error",
  "proc-macro2",
@@ -1964,9 +2019,9 @@ dependencies = [
 
 [[package]]
 name = "wasmer-middlewares"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "acfc08fb8e2e1511f1d69302d7406ace6c0ec0c90e103f8c0a5aa81ecb9fe81f"
+checksum = "eeb4b87c0ea9f8636c81a8ab8f52bad01c8623c9fcbb3db5f367d5f157fada30"
 dependencies = [
  "wasmer",
  "wasmer-types",
@@ -1975,9 +2030,9 @@ dependencies = [
 
 [[package]]
 name = "wasmer-types"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d7e32ed799fa8c0d96ca9615d9ea8006857a0f0c18e7c2ed8082bd5c63a9ea70"
+checksum = "ae2c892882f0b416783fb4310e5697f5c30587f6f9555f9d4f2be85ab39d5d3d"
 dependencies = [
  "bytecheck",
  "enum-iterator",
@@ -1991,14 +2046,15 @@ dependencies = [
 
 [[package]]
 name = "wasmer-vm"
-version = "4.1.2"
+version = "4.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0847513cb176b5d62a6f65d6ae474594935e726a10e9e3387177d9cbf8b8cda0"
+checksum = "7c0a9a57b627fb39e5a491058d4365f099bc9b140031c000fded24a3306d9480"
 dependencies = [
  "backtrace",
  "cc",
  "cfg-if",
  "corosensei",
+ "crossbeam-queue",
  "dashmap",
  "derivative",
  "enum-iterator",
@@ -2028,7 +2084,7 @@ dependencies = [
 
 [[package]]
 name = "wasmvm"
-version = "1.4.1"
+version = "1.5.0-rc.0"
 dependencies = [
  "cbindgen",
  "cosmwasm-std",
diff --git a/libwasmvm/Cargo.toml b/libwasmvm/Cargo.toml
index 64160541e..e74d7c1e7 100644
--- a/libwasmvm/Cargo.toml
+++ b/libwasmvm/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "wasmvm"
-version = "1.4.1"
+version = "1.5.0-rc.0"
 publish = false
 authors = ["Ethan Frey <ethanfrey@users.noreply.github.com>"]
 edition = "2021"
@@ -26,8 +26,8 @@ default = []
 backtraces = []
 
 [dependencies]
-cosmwasm-std = { git = "https://github.com/CosmWasm/cosmwasm.git", rev = "v1.4.1", features = ["staking", "stargate", "iterator"] }
-cosmwasm-vm = { git = "https://github.com/CosmWasm/cosmwasm.git", rev = "v1.4.1", features = ["staking", "stargate", "iterator"] }
+cosmwasm-std = { git = "https://github.com/CosmWasm/cosmwasm.git", rev = "v1.5.0-rc.0", features = ["staking", "stargate", "iterator"] }
+cosmwasm-vm = { git = "https://github.com/CosmWasm/cosmwasm.git", rev = "v1.5.0-rc.0", features = ["staking", "stargate", "iterator"] }
 errno = "0.2"
 serde_json = "1.0.91"
 thiserror = "1.0.38"
diff --git a/testdata/floaty_2.0.wasm b/testdata/floaty_2.0.wasm
new file mode 100755
index 000000000..3dd07a913
Binary files /dev/null and b/testdata/floaty_2.0.wasm differ