diff --git a/cosmwasm/Dockerfile b/Dockerfile.cosmwasm
similarity index 78%
rename from cosmwasm/Dockerfile
rename to Dockerfile.cosmwasm
index 440a91c57..cfc974815 100644
--- a/cosmwasm/Dockerfile
+++ b/Dockerfile.cosmwasm
@@ -3,10 +3,12 @@
 #  2. The second is an empty image with only the wasm files (useful for exporting)
 #  3. The third creates a node.js environment to deploy the contracts to devnet
 FROM cosmwasm/workspace-optimizer:0.12.6@sha256:e6565a5e87c830ef3e8775a9035006b38ad0aaf0a96319158c802457b1dd1d08 AS builder
-COPY Cargo.lock /code/
-COPY Cargo.toml /code/
-COPY contracts /code/contracts
-COPY packages /code/packages
+
+COPY cosmwasm/Cargo.lock /code/
+COPY cosmwasm/Cargo.toml /code/
+COPY cosmwasm/contracts /code/contracts
+COPY cosmwasm/packages /code/packages
+COPY sdk/rust /sdk/rust
 
 # Support additional root CAs
 COPY README.md cert.pem* /certs/
@@ -34,9 +36,9 @@ RUN apt update && apt install netcat curl jq -y
 WORKDIR /app/tools
 
 COPY --from=artifacts / /app/artifacts
-COPY ./artifacts/cw20_base.wasm /app/artifacts/
+COPY ./cosmwasm/artifacts/cw20_base.wasm /app/artifacts/
 
-COPY ./tools/package.json ./tools/package-lock.json /app/tools/
+COPY ./cosmwasm/tools/package.json ./cosmwasm/tools/package-lock.json /app/tools/
 RUN --mount=type=cache,uid=1000,gid=1000,target=/home/node/.npm \
     npm ci
-COPY ./tools /app/tools
+COPY ./cosmwasm/tools /app/tools
diff --git a/Tiltfile b/Tiltfile
index 14a79b973..051b466c5 100644
--- a/Tiltfile
+++ b/Tiltfile
@@ -599,8 +599,8 @@ if terra2:
 
     docker_build(
         ref = "terra2-contracts",
-        context = "./cosmwasm",
-        dockerfile = "./cosmwasm/Dockerfile",
+        context = ".",
+        dockerfile = "./Dockerfile.cosmwasm",
     )
 
     k8s_yaml_with_ns("devnet/terra2-devnet.yaml")
diff --git a/cosmwasm/Cargo.lock b/cosmwasm/Cargo.lock
index fe4297a57..0460cd65e 100644
--- a/cosmwasm/Cargo.lock
+++ b/cosmwasm/Cargo.lock
@@ -23,7 +23,7 @@ version = "0.17.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "b9ecd88a8c8378ca913a680cd98f0f13ac67383d35993f86c90a70e3f137816b"
 dependencies = [
- "gimli 0.26.1",
+ "gimli 0.26.2",
 ]
 
 [[package]]
@@ -38,7 +38,7 @@ version = "0.7.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "fcb51a0695d8f838b1ee009b3fbf66bda078cd64590202a864a8f3e8c4315c47"
 dependencies = [
- "getrandom 0.2.3",
+ "getrandom",
  "once_cell",
  "version_check",
 ]
@@ -54,22 +54,22 @@ dependencies = [
 
 [[package]]
 name = "autocfg"
-version = "1.0.1"
+version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cdb031dd78e28731d87d56cc8ffef4a8f36ca26c38fe2de700543e627f8a464a"
+checksum = "d468802bab17cbc0cc575e9b053f41e72aa36bfa6b7f55e3529ffa43161b97fa"
 
 [[package]]
 name = "backtrace"
-version = "0.3.63"
+version = "0.3.66"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "321629d8ba6513061f26707241fa9bc89524ff1cd7a915a97ef0c62c666ce1b6"
+checksum = "cab84319d616cfb654d03394f38ab7e6f0919e181b1b57e1fd15e7fb4077d9a7"
 dependencies = [
  "addr2line",
  "cc",
  "cfg-if",
  "libc",
  "miniz_oxide",
- "object 0.27.1",
+ "object 0.29.0",
  "rustc-demangle",
 ]
 
@@ -81,15 +81,15 @@ checksum = "349a06037c7bf932dd7e7d1f653678b2038b9ad46a74102f1fc7bd7872678cce"
 
 [[package]]
 name = "base64"
-version = "0.13.0"
+version = "0.13.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "904dfeac50f3cdaba28fc6f57fdcddb75f49ed61346676a78c4ffe55877802fd"
+checksum = "9e1b586273c5702936fe7b7d6896644d8be71e6314cfe09d3167c95f712589e8"
 
 [[package]]
 name = "base64ct"
-version = "1.5.0"
+version = "1.5.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dea908e7347a8c64e378c17e30ef880ad73e3b4498346b055c2c00ea342f3179"
+checksum = "b645a089122eccb6111b4f81cbc1a49f5900ac4666bb93ac027feaecf15607bf"
 
 [[package]]
 name = "bigint"
@@ -117,6 +117,15 @@ dependencies = [
  "generic-array",
 ]
 
+[[package]]
+name = "block-buffer"
+version = "0.10.3"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "69cce20737498f97b993470a6e536b8523f0af7892a4f928cceb1ac5e52ebe7e"
+dependencies = [
+ "generic-array",
+]
+
 [[package]]
 name = "block-padding"
 version = "0.2.1"
@@ -124,16 +133,28 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "8d696c370c750c948ada61c69a0ee2cbbb9c50b1019ddb86d9317157a99c2cae"
 
 [[package]]
-name = "bumpalo"
-version = "3.10.0"
+name = "bstr"
+version = "1.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "37ccbd214614c6783386c1af30caf03192f17891059cecc394b4fb119e363de3"
+checksum = "fca0852af221f458706eb0725c03e4ed6c46af9ac98e6a689d5e634215d594dd"
+dependencies = [
+ "memchr",
+ "once_cell",
+ "regex-automata",
+ "serde",
+]
+
+[[package]]
+name = "bumpalo"
+version = "3.11.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "572f695136211188308f16ad2ca5c851a712c464060ae6974944458eb83880ba"
 
 [[package]]
 name = "bytecheck"
-version = "0.6.8"
+version = "0.6.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3a31f923c2db9513e4298b72df143e6e655a759b3d6a0966df18f81223fff54f"
+checksum = "d11cac2c12b5adc6570dad2ee1b87eff4955dac476fe12d81e5fdd352e52406f"
 dependencies = [
  "bytecheck_derive",
  "ptr_meta",
@@ -141,9 +162,9 @@ dependencies = [
 
 [[package]]
 name = "bytecheck_derive"
-version = "0.6.8"
+version = "0.6.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "edb17c862a905d912174daa27ae002326fff56dc8b8ada50a0a5f0976cb174f0"
+checksum = "13e576ebe98e605500b3c8041bb888e966653577172df6dd97398714eb30b9bf"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -158,15 +179,15 @@ checksum = "14c189c53d098945499cdfa7ecc63567cf3886b3332b312a5b4585d8d3a6a610"
 
 [[package]]
 name = "bytes"
-version = "1.1.0"
+version = "1.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c4872d67bab6358e59559027aa3b9157c53d9358c51423c17554809a8858e0f8"
+checksum = "ec8a7b6a70fde80372154c65702f00a0f56f3e1c36abbc6c440484be248856db"
 
 [[package]]
 name = "cc"
-version = "1.0.72"
+version = "1.0.76"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "22a9137b95ea06864e018375b72adfb7db6e6f68cfc8df5a04d00288050485ee"
+checksum = "76a284da2e6fe2092f2353e51713435363112dfd60030e22add80be333fb928f"
 
 [[package]]
 name = "cfg-if"
@@ -180,6 +201,12 @@ version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "591ff76ca0691bd91c1b0b5b987e5cf93b21ec810ad96665c5a569c60846dd93"
 
+[[package]]
+name = "const-oid"
+version = "0.6.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "9d6f2aa4d0537bcc1c74df8755072bd31c1ef1a3a1b85a68e8404a8c353b7b8b"
+
 [[package]]
 name = "const-oid"
 version = "0.7.1"
@@ -192,27 +219,27 @@ version = "1.0.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "5eb0afef2325df81aadbf9be1233f522ed8f6e91df870c764bc44cca2b1415bd"
 dependencies = [
- "digest",
+ "digest 0.9.0",
  "ed25519-zebra",
  "k256 0.10.4",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "thiserror",
 ]
 
 [[package]]
 name = "cosmwasm-derive"
-version = "1.0.0"
+version = "1.1.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4b36e527620a2a3e00e46b6e731ab6c9b68d11069c986f7d7be8eba79ef081a4"
+checksum = "a552716cf87ad173cd6b593fd72bf24fab490e0e5420aa75a227d6817d06b5df"
 dependencies = [
  "syn",
 ]
 
 [[package]]
 name = "cosmwasm-schema"
-version = "1.1.5"
+version = "1.1.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a227cfeb9a7152b26a354b1c990e930e962f75fd68f57ab5ae2ef888c8524292"
+checksum = "98c025d629589ca5d43fb8ff06decc387a4d01ead14f6b505300777fc6f01e1d"
 dependencies = [
  "cosmwasm-schema-derive",
  "schemars",
@@ -223,9 +250,9 @@ dependencies = [
 
 [[package]]
 name = "cosmwasm-schema-derive"
-version = "1.1.5"
+version = "1.1.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3626cb42eef870de67f791e873711255325224d86f281bf628c42abd295f3a14"
+checksum = "6f09a65d22861a24a1b30eab6aa6759333723629bc2cb568cd22569745e1dcb2"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -282,9 +309,9 @@ dependencies = [
 
 [[package]]
 name = "cpufeatures"
-version = "0.2.1"
+version = "0.2.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "95059428f66df56b63431fdb4e1947ed2190586af5c5a8a8b71122bdf5a7f469"
+checksum = "28d997bd5e24a5928dd43e46dc529867e207907fe0b239c3477d924f7f2ca320"
 dependencies = [
  "libc",
 ]
@@ -351,18 +378,18 @@ dependencies = [
 
 [[package]]
 name = "crc32fast"
-version = "1.2.1"
+version = "1.3.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "81156fece84ab6a9f2afdb109ce3ae577e42b1228441eded99bd77f627953b1a"
+checksum = "b540bd8bc810d3885c6ea91e2018302f68baba2129ab3e88f32389ee9370880d"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "crossbeam-channel"
-version = "0.5.1"
+version = "0.5.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "06ed27e177f16d65f0f0c22a213e17c696ace5dd64b14258b52f9417ccb52db4"
+checksum = "c2dd04ddaf88237dc3b8d8f9a3c1004b506b54b3313403944054d23c0870c521"
 dependencies = [
  "cfg-if",
  "crossbeam-utils",
@@ -370,9 +397,9 @@ dependencies = [
 
 [[package]]
 name = "crossbeam-deque"
-version = "0.8.1"
+version = "0.8.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6455c0ca19f0d2fbf751b908d5c55c1f5cbc65e03c4225427254b46890bdde1e"
+checksum = "715e8152b692bba2d374b53d4875445368fdf21a94751410af607a5ac677d1fc"
 dependencies = [
  "cfg-if",
  "crossbeam-epoch",
@@ -381,25 +408,24 @@ dependencies = [
 
 [[package]]
 name = "crossbeam-epoch"
-version = "0.9.5"
+version = "0.9.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4ec02e091aa634e2c3ada4a392989e7c3116673ef0ac5b72232439094d73b7fd"
+checksum = "f916dfc5d356b0ed9dae65f1db9fc9770aa2851d2662b988ccf4fe3516e86348"
 dependencies = [
+ "autocfg",
  "cfg-if",
  "crossbeam-utils",
- "lazy_static",
  "memoffset",
  "scopeguard",
 ]
 
 [[package]]
 name = "crossbeam-utils"
-version = "0.8.5"
+version = "0.8.12"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d82cfc11ce7f2c3faef78d8a684447b40d503d9681acebed6cb728d45940c4db"
+checksum = "edbafec5fa1f196ca66527c1b12c2ec4745ca14b50f1ad8f9f6f720b55d11fac"
 dependencies = [
  "cfg-if",
- "lazy_static",
 ]
 
 [[package]]
@@ -421,7 +447,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f83bd3bb4314701c568e340cd8cf78c975aa0ca79e03d3f6d1677d5b0c9c0c03"
 dependencies = [
  "generic-array",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
  "zeroize",
 ]
@@ -433,11 +459,21 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "03c6a1d5fa1de37e071642dfa44ec552ca5b299adb128fab16138e24b548fd21"
 dependencies = [
  "generic-array",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
  "zeroize",
 ]
 
+[[package]]
+name = "crypto-common"
+version = "0.1.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1bfb12502f3fc46cca1bb51ac28df9d618d813cdc3d2f25b9fe775a34af26bb3"
+dependencies = [
+ "generic-array",
+ "typenum",
+]
+
 [[package]]
 name = "crypto-mac"
 version = "0.11.1"
@@ -455,12 +491,31 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "0b9fdf9972b2bd6af2d913799d9ebc165ea4d2e65878e329d9c6b372c4491b61"
 dependencies = [
  "byteorder",
- "digest",
+ "digest 0.9.0",
  "rand_core 0.5.1",
  "subtle",
  "zeroize",
 ]
 
+[[package]]
+name = "cw-multi-test"
+version = "0.13.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a3f9a8ab7c3c29ec93cb7a39ce4b14a05e053153b4a17ef7cf2246af1b7c087e"
+dependencies = [
+ "anyhow",
+ "cosmwasm-std",
+ "cosmwasm-storage",
+ "cw-storage-plus",
+ "cw-utils",
+ "derivative",
+ "itertools",
+ "prost",
+ "schemars",
+ "serde",
+ "thiserror",
+]
+
 [[package]]
 name = "cw-storage-plus"
 version = "0.13.4"
@@ -541,9 +596,9 @@ dependencies = [
 
 [[package]]
 name = "darling"
-version = "0.13.0"
+version = "0.14.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "757c0ded2af11d8e739c4daea1ac623dd1624b06c844cf3f5a39f1bdbd99bb12"
+checksum = "b0dd3cd20dc6b5a876612a6e5accfe7f3dd883db6d07acfbf14c128f61550dfa"
 dependencies = [
  "darling_core",
  "darling_macro",
@@ -551,23 +606,22 @@ dependencies = [
 
 [[package]]
 name = "darling_core"
-version = "0.13.0"
+version = "0.14.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2c34d8efb62d0c2d7f60ece80f75e5c63c1588ba68032740494b0b9a996466e3"
+checksum = "a784d2ccaf7c98501746bf0be29b2022ba41fd62a2e622af997a03e9f972859f"
 dependencies = [
  "fnv",
  "ident_case",
  "proc-macro2",
  "quote",
- "strsim",
  "syn",
 ]
 
 [[package]]
 name = "darling_macro"
-version = "0.13.0"
+version = "0.14.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ade7bff147130fe5e6d39f089c6bd49ec0250f35d70b2eebf72afdfc919f15cc"
+checksum = "7618812407e9402654622dd402b0a89dff9ba93badd6540781526117b92aab7e"
 dependencies = [
  "darling_core",
  "quote",
@@ -576,9 +630,12 @@ dependencies = [
 
 [[package]]
 name = "der"
-version = "0.4.4"
+version = "0.4.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "28e98c534e9c8a0483aa01d6f6913bc063de254311bd267c9cf535e9b70e15b2"
+checksum = "79b71cca7d95d7681a4b3b9cdf63c8dbc3730d0584c2c74e31416d64a90493f4"
+dependencies = [
+ "const-oid 0.6.2",
+]
 
 [[package]]
 name = "der"
@@ -586,7 +643,18 @@ version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "6919815d73839e7ad218de758883aae3a257ba6759ce7a9992501efbb53d705c"
 dependencies = [
- "const-oid",
+ "const-oid 0.7.1",
+]
+
+[[package]]
+name = "derivative"
+version = "2.2.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "fcc3dd5e9e9c0b295d6e1e4d811fb6f157d5ffd784b8d202fc62eac8035a770b"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "syn",
 ]
 
 [[package]]
@@ -599,10 +667,20 @@ dependencies = [
 ]
 
 [[package]]
-name = "dyn-clone"
-version = "1.0.4"
+name = "digest"
+version = "0.10.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ee2626afccd7561a06cf1367e2950c4718ea04565e20fb5029b6c7d8ad09abcf"
+checksum = "8168378f4e5023e7218c89c891c0fd8ecdb5e5e4f18cb78f38cf245dd021e76f"
+dependencies = [
+ "block-buffer 0.10.3",
+ "crypto-common",
+]
+
+[[package]]
+name = "dyn-clone"
+version = "1.0.9"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4f94fa09c2aeea5b8839e414b7b841bf429fd25b9c522116ac97ee87856d88b2"
 
 [[package]]
 name = "dynasm"
@@ -636,7 +714,7 @@ version = "0.12.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "43ee23aa5b4f68c7a092b5c3beb25f50c406adc75e2363634f242f28ab255372"
 dependencies = [
- "der 0.4.4",
+ "der 0.4.5",
  "elliptic-curve 0.10.6",
  "hmac",
  "signature",
@@ -656,24 +734,24 @@ dependencies = [
 
 [[package]]
 name = "ed25519-zebra"
-version = "3.0.0"
+version = "3.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "403ef3e961ab98f0ba902771d29f842058578bb1ce7e3c59dad5a6a93e784c69"
+checksum = "7c24f403d068ad0b359e577a77f92392118be3f3c927538f2bb544a5ecd828c6"
 dependencies = [
  "curve25519-dalek",
+ "hashbrown 0.12.3",
  "hex",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "serde",
  "sha2",
- "thiserror",
  "zeroize",
 ]
 
 [[package]]
 name = "either"
-version = "1.6.1"
+version = "1.8.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e78d4f1cc4ae33bbfc157ed5d5a5ef3bc29227303d595861deb238fcec4e9457"
+checksum = "90e5c1c8368803113bf0c9584fc495a58b86dc8a29edbf8fe877d21d9507e797"
 
 [[package]]
 name = "elliptic-curve"
@@ -685,7 +763,8 @@ dependencies = [
  "ff 0.10.1",
  "generic-array",
  "group 0.10.0",
- "rand_core 0.6.3",
+ "pkcs8 0.7.6",
+ "rand_core 0.6.4",
  "subtle",
  "zeroize",
 ]
@@ -702,7 +781,7 @@ dependencies = [
  "ff 0.11.1",
  "generic-array",
  "group 0.11.0",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "sec1",
  "subtle",
  "zeroize",
@@ -730,18 +809,18 @@ dependencies = [
 
 [[package]]
 name = "enumset"
-version = "1.0.8"
+version = "1.0.12"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6216d2c19a6fb5f29d1ada1dc7bc4367a8cbf0fa4af5cf12e07b5bbdde6b5b2c"
+checksum = "19be8061a06ab6f3a6cf21106c873578bf01bd42ad15e0311a9c76161cb1c753"
 dependencies = [
  "enumset_derive",
 ]
 
 [[package]]
 name = "enumset_derive"
-version = "0.5.5"
+version = "0.6.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6451128aa6655d880755345d085494cf7561a6bee7c8dc821e5d77e6d267ecd4"
+checksum = "03e7b551eba279bf0fa88b83a46330168c1560a52a94f5126f892f0b364ab3e0"
 dependencies = [
  "darling",
  "proc-macro2",
@@ -755,13 +834,22 @@ version = "0.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4443176a9f2c162692bd3d352d745ef9413eec5782a80d8fd6f8a1ac692a07f7"
 
+[[package]]
+name = "fastrand"
+version = "1.8.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a7a407cfaa3385c4ae6b23e84623d48c2798d06e3e6a1878f7f59f17b3f86499"
+dependencies = [
+ "instant",
+]
+
 [[package]]
 name = "ff"
 version = "0.10.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d0f40b2dcd8bc322217a5f6559ae5f9e9d1de202a2ecee2e9eafcbece7562a4f"
 dependencies = [
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
 ]
 
@@ -771,7 +859,7 @@ version = "0.11.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "131655483be284720a17d74ff97592b8e76576dc25563148601df2d7c9080924"
 dependencies = [
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
 ]
 
@@ -789,9 +877,9 @@ checksum = "c8cbd1169bd7b4a0a20d92b9af7a7e0422888bd38a6f5ec29c1fd8c1558a272e"
 
 [[package]]
 name = "generic-array"
-version = "0.14.4"
+version = "0.14.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "501466ecc8a30d1d3b7fc9229b122b2ce8ed6e9d9223f1138d4babb253e51817"
+checksum = "bff49e947297f3312447abdca79f45f4738097cc82b06e72054d2223f601f1b9"
 dependencies = [
  "typenum",
  "version_check",
@@ -799,24 +887,13 @@ dependencies = [
 
 [[package]]
 name = "getrandom"
-version = "0.1.16"
+version = "0.2.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8fc3cb4d91f53b50155bdcfd23f6a4c39ae1969c2ae85982b135750cccaf5fce"
+checksum = "c05aeb6a22b8f62540c194aac980f2115af067bfe15a0734d7277a768d396b31"
 dependencies = [
  "cfg-if",
  "libc",
- "wasi 0.9.0+wasi-snapshot-preview1",
-]
-
-[[package]]
-name = "getrandom"
-version = "0.2.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7fcd999463524c52659517fe2cea98493cfe485d10565e7b0fb07dbba7ad2753"
-dependencies = [
- "cfg-if",
- "libc",
- "wasi 0.10.2+wasi-snapshot-preview1",
+ "wasi",
 ]
 
 [[package]]
@@ -832,9 +909,9 @@ dependencies = [
 
 [[package]]
 name = "gimli"
-version = "0.26.1"
+version = "0.26.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "78cc372d058dcf6d5ecd98510e7fbc9e5aec4d21de70f65fea8fecebcd881bd4"
+checksum = "22030e2c5a68ec659fde1e949a745124b48e6fa8b045b7ed5bd1fe4ccc5c4e5d"
 
 [[package]]
 name = "group"
@@ -843,7 +920,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "1c363a5301b8f153d80747126a04b3c82073b9fe3130571a9d170cacdeaf7912"
 dependencies = [
  "ff 0.10.1",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
 ]
 
@@ -854,7 +931,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "bc5ac374b108929de78460075f3dc439fa66df9d8fc77e8f12caa5165fcf0c89"
 dependencies = [
  "ff 0.11.1",
- "rand_core 0.6.3",
+ "rand_core 0.6.4",
  "subtle",
 ]
 
@@ -869,9 +946,9 @@ dependencies = [
 
 [[package]]
 name = "hashbrown"
-version = "0.12.1"
+version = "0.12.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "db0d4cf898abf0081f964436dc980e96670a0f36863e4b83aaacdb65c9d7ccc3"
+checksum = "8a9ee70c43aaf417c914396645a0fa852624801b24ebb7ae78fe8272889ac888"
 dependencies = [
  "ahash",
 ]
@@ -898,7 +975,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2a2a2320eb7ec0ebe8da8f744d7812d9fc4cb4d09344ac01898dbcb6a20ae69b"
 dependencies = [
  "crypto-mac",
- "digest",
+ "digest 0.9.0",
 ]
 
 [[package]]
@@ -909,26 +986,44 @@ checksum = "b9e0384b61958566e926dc50660321d12159025e767c18e043daf26b70104c39"
 
 [[package]]
 name = "indexmap"
-version = "1.7.0"
+version = "1.9.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bc633605454125dec4b66843673f01c7df2b89479b32e0ed634e43a91cff62a5"
+checksum = "1885e79c1fc4b10f0e172c475f458b7f7b93061064d98c3293e98c5ba0c8b399"
 dependencies = [
  "autocfg",
- "hashbrown 0.11.2",
+ "hashbrown 0.12.3",
  "serde",
 ]
 
 [[package]]
-name = "itoa"
-version = "0.4.8"
+name = "instant"
+version = "0.1.12"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b71991ff56294aa922b450139ee08b3bfc70982c6b2c7562771375cf73542dd4"
+checksum = "7a5bbe824c507c5da5956355e86a746d82e0e1464f65d862cc5e71da70e94b2c"
+dependencies = [
+ "cfg-if",
+]
+
+[[package]]
+name = "itertools"
+version = "0.10.5"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b0fd2260e829bddf4cb6ea802289de2f86d6a7a690192fbe91b3f46e0f2c8473"
+dependencies = [
+ "either",
+]
+
+[[package]]
+name = "itoa"
+version = "1.0.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4217ad341ebadf8d8e724e264f13e593e0648f5b3e94b3896a5df283be015ecc"
 
 [[package]]
 name = "js-sys"
-version = "0.3.57"
+version = "0.3.60"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "671a26f820db17c2a2750743f1dd03bafd15b98c9f30c7c2628c024c05d73397"
+checksum = "49409df3e3bf0856b916e2ceaca09ee28e6871cf7d9ce97a692cacfdb2a25a47"
 dependencies = [
  "wasm-bindgen",
 ]
@@ -942,6 +1037,7 @@ dependencies = [
  "cfg-if",
  "ecdsa 0.12.4",
  "elliptic-curve 0.10.6",
+ "sha2",
 ]
 
 [[package]]
@@ -959,9 +1055,12 @@ dependencies = [
 
 [[package]]
 name = "keccak"
-version = "0.1.0"
+version = "0.1.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "67c21572b4949434e4fc1e1978b99c5f77064153c59d998bf13ecd96fb5ecba7"
+checksum = "3afef3b6eff9ce9d8ff9b3601125eec7f0c8cbac7abd14f355d053fa56c98768"
+dependencies = [
+ "cpufeatures",
+]
 
 [[package]]
 name = "lazy_static"
@@ -977,15 +1076,15 @@ checksum = "884e2677b40cc8c339eaefcb701c32ef1fd2493d71118dc0ca4b6a736c93bd67"
 
 [[package]]
 name = "libc"
-version = "0.2.108"
+version = "0.2.137"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8521a1b57e76b1ec69af7599e75e38e7b7fad6610f037db8c79b127201b5d119"
+checksum = "fc7fcc620a3bff7cdd7a365be3376c97191aeaccc2a603e600951e452615bf89"
 
 [[package]]
 name = "libloading"
-version = "0.7.2"
+version = "0.7.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "afe203d669ec979b7128619bae5a63b7b42e9203c1b29146079ee05e2f604b52"
+checksum = "b67380fd3b2fbe7527a606e18729d21c6f3951633d0500574c4dc22d2d638b9f"
 dependencies = [
  "cfg-if",
  "winapi",
@@ -993,9 +1092,9 @@ dependencies = [
 
 [[package]]
 name = "log"
-version = "0.4.14"
+version = "0.4.17"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "51b9bbe6c47d51fc3e1a9b945965946b4c44142ab8792c50835a980d362c2710"
+checksum = "abb12e687cfb44aa40f41fc3978ef76448f9b6038cad6aef4259d3c095a2382e"
 dependencies = [
  "cfg-if",
 ]
@@ -1032,36 +1131,35 @@ dependencies = [
 
 [[package]]
 name = "memchr"
-version = "2.4.1"
+version = "2.5.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "308cc39be01b73d0d18f82a0e7b2a3df85245f84af96fdddc5d202d27e47b86a"
+checksum = "2dffe52ecf27772e601905b7522cb4ef790d2cc203488bbd0e2fe85fcb74566d"
 
 [[package]]
 name = "memmap2"
-version = "0.5.0"
+version = "0.5.8"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4647a11b578fead29cdbb34d4adef8dd3dc35b876c9c6d5240d83f205abfe96e"
+checksum = "4b182332558b18d807c4ce1ca8ca983b34c3ee32765e47b3f0f69b90355cc1dc"
 dependencies = [
  "libc",
 ]
 
 [[package]]
 name = "memoffset"
-version = "0.6.4"
+version = "0.6.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "59accc507f1338036a0477ef61afdae33cde60840f4dfe481319ce3ad116ddf9"
+checksum = "5aa361d4faea93603064a027415f07bd8e1d5c88c9fbf68bf56a285428fd79ce"
 dependencies = [
  "autocfg",
 ]
 
 [[package]]
 name = "miniz_oxide"
-version = "0.4.4"
+version = "0.5.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a92518e98c078586bc6c934028adcca4c92a53d6a958196de835170a01d84e4b"
+checksum = "96590ba8f175222643a85693f33d26e9c8a015f599c216509b1a6894af675d34"
 dependencies = [
  "adler",
- "autocfg",
 ]
 
 [[package]]
@@ -1082,7 +1180,7 @@ dependencies = [
  "schemars",
  "serde",
  "serde_json",
- "sha3",
+ "sha3 0.9.1",
  "terraswap",
  "thiserror",
  "token-bridge-terra-2",
@@ -1097,23 +1195,14 @@ checksum = "7843ec2de400bcbc6a6328c958dc38e5359da6e93e72e37bc5246bf1ae776389"
 
 [[package]]
 name = "num_cpus"
-version = "1.13.0"
+version = "1.14.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "05499f3756671c15885fee9034446956fff3f243d6077b91e5767df161f766b3"
+checksum = "f6058e64324c71e02bc2b150e4f3bc8286db6c83092132ffa3f6b1eab0f9def5"
 dependencies = [
  "hermit-abi",
  "libc",
 ]
 
-[[package]]
-name = "object"
-version = "0.27.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "67ac1d3f9a1d3616fd9a60c8d74296f22406a238b6a72f5cc1e6f314df4ffbf9"
-dependencies = [
- "memchr",
-]
-
 [[package]]
 name = "object"
 version = "0.28.4"
@@ -1127,10 +1216,19 @@ dependencies = [
 ]
 
 [[package]]
-name = "once_cell"
-version = "1.12.0"
+name = "object"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7709cef83f0c1f58f666e746a08b21e0085f7440fa6a29cc194d68aac97a4225"
+checksum = "21158b2c33aa6d4561f1c0a6ea283ca92bc54802a93b263e910746d679a7eb53"
+dependencies = [
+ "memchr",
+]
+
+[[package]]
+name = "once_cell"
+version = "1.16.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "86f0b0d4bf799edbc74508c1e8bf170ff5f41238e5f8225603ca7caaae2b7860"
 
 [[package]]
 name = "opaque-debug"
@@ -1146,9 +1244,19 @@ checksum = "be5e13c266502aadf83426d87d81a0f5d1ef45b8027f5a471c360abfe4bfae92"
 
 [[package]]
 name = "pin-project-lite"
-version = "0.2.7"
+version = "0.2.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8d31d11c69a6b52a174b42bdc0c30e5e11670f90788b2c471c31c1d17d449443"
+checksum = "e0a7ae3ac2f1173085d398531c705756c94a4c56843785df85a60c1a0afac116"
+
+[[package]]
+name = "pkcs8"
+version = "0.7.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ee3ef9b64d26bad0536099c816c6734379e45bbd5f14798def6809e5cc350447"
+dependencies = [
+ "der 0.4.5",
+ "spki 0.4.1",
+]
 
 [[package]]
 name = "pkcs8"
@@ -1157,16 +1265,10 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "7cabda3fb821068a9a4fab19a683eac3af12edf0f34b94a8be53c4972b8149d0"
 dependencies = [
  "der 0.5.1",
- "spki",
+ "spki 0.5.4",
  "zeroize",
 ]
 
-[[package]]
-name = "ppv-lite86"
-version = "0.2.15"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ed0cfbc8191465bed66e1718596ee0b0b35d5ee1f41c5df2189d0fe8bde535ba"
-
 [[package]]
 name = "proc-macro-error"
 version = "1.0.4"
@@ -1193,18 +1295,41 @@ dependencies = [
 
 [[package]]
 name = "proc-macro2"
-version = "1.0.39"
+version = "1.0.47"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c54b25569025b7fc9651de43004ae593a75ad88543b17178aa5e1b9c4f15f56f"
+checksum = "5ea3d908b0e36316caf9e9e2c4625cdde190a7e6f440d794667ed17a1855e725"
 dependencies = [
  "unicode-ident",
 ]
 
 [[package]]
-name = "protobuf"
-version = "2.27.1"
+name = "prost"
+version = "0.9.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cf7e6d18738ecd0902d30d1ad232c9125985a3422929b16c65517b38adc14f96"
+checksum = "444879275cb4fd84958b1a1d5420d15e6fcf7c235fe47f053c9c2a80aceb6001"
+dependencies = [
+ "bytes",
+ "prost-derive",
+]
+
+[[package]]
+name = "prost-derive"
+version = "0.9.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f9cc1a3263e07e0bf68e96268f37665207b49560d98739662cdfaae215c720fe"
+dependencies = [
+ "anyhow",
+ "itertools",
+ "proc-macro2",
+ "quote",
+ "syn",
+]
+
+[[package]]
+name = "protobuf"
+version = "2.28.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "106dd99e98437432fed6519dedecfade6a06a73bb7b2a1e019fdd2bee5778d94"
 dependencies = [
  "bytes",
 ]
@@ -1231,67 +1356,33 @@ dependencies = [
 
 [[package]]
 name = "quote"
-version = "1.0.10"
+version = "1.0.21"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "38bc8cc6a5f2e3655e0899c1b848643b2562f853f114bfec7be120678e3ace05"
+checksum = "bbe448f377a7d6961e30f5955f9b8d106c3f5e449d493ee1b125c1d43c2b5179"
 dependencies = [
  "proc-macro2",
 ]
 
-[[package]]
-name = "rand"
-version = "0.8.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2e7573632e6454cf6b99d7aac4ccca54be06da05aca2ef7423d22d27d4d4bcd8"
-dependencies = [
- "libc",
- "rand_chacha",
- "rand_core 0.6.3",
- "rand_hc",
-]
-
-[[package]]
-name = "rand_chacha"
-version = "0.3.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e6c10a63a0fa32252be49d21e7709d4d4baf8d231c2dbce1eaa8141b9b127d88"
-dependencies = [
- "ppv-lite86",
- "rand_core 0.6.3",
-]
-
 [[package]]
 name = "rand_core"
 version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "90bde5296fc891b0cef12a6d03ddccc162ce7b2aff54160af9338f8d40df6d19"
-dependencies = [
- "getrandom 0.1.16",
-]
 
 [[package]]
 name = "rand_core"
-version = "0.6.3"
+version = "0.6.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d34f1408f55294453790c48b2f1ebbb1c5b4b7563eb1f418bcfcfdbb06ebb4e7"
+checksum = "ec0be4795e2f6a28069bec0b5ff3e2ac9bafc99e6a9a7dc3547996c5c816922c"
 dependencies = [
- "getrandom 0.2.3",
-]
-
-[[package]]
-name = "rand_hc"
-version = "0.3.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d51e9f596de227fda2ea6c84607f5558e196eeaf43c986b724ba4fb8fdf497e7"
-dependencies = [
- "rand_core 0.6.3",
+ "getrandom",
 ]
 
 [[package]]
 name = "rayon"
-version = "1.5.1"
+version = "1.5.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c06aca804d41dbc8ba42dfd964f0d01334eceb64314b9ecf7c5fad5188a06d90"
+checksum = "bd99e5772ead8baa5215278c9b15bf92087709e9c1b2d1f97cdb5a183c933a7d"
 dependencies = [
  "autocfg",
  "crossbeam-deque",
@@ -1301,22 +1392,21 @@ dependencies = [
 
 [[package]]
 name = "rayon-core"
-version = "1.9.1"
+version = "1.9.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d78120e2c850279833f1dd3582f730c4ab53ed95aeaaaa862a2a5c71b1656d8e"
+checksum = "258bcdb5ac6dad48491bb2992db6b7cf74878b0384908af124823d118c99683f"
 dependencies = [
  "crossbeam-channel",
  "crossbeam-deque",
  "crossbeam-utils",
- "lazy_static",
  "num_cpus",
 ]
 
 [[package]]
 name = "redox_syscall"
-version = "0.2.10"
+version = "0.2.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8383f39639269cde97d255a32bdb68c047337295414940c68bdd30c2e13203ff"
+checksum = "fb5a58c1855b4b6819d59012155603f0b22ad30cad752600aadfcb695265519a"
 dependencies = [
  "bitflags",
 ]
@@ -1332,6 +1422,12 @@ dependencies = [
  "smallvec",
 ]
 
+[[package]]
+name = "regex-automata"
+version = "0.1.10"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "6c230d73fb8d8c1b9c0b3135c5142a8acee3a0558fb8db5cf1cb65f8d7862132"
+
 [[package]]
 name = "region"
 version = "3.0.0"
@@ -1375,12 +1471,12 @@ dependencies = [
 
 [[package]]
 name = "rkyv"
-version = "0.7.38"
+version = "0.7.39"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "517a3034eb2b1499714e9d1e49b2367ad567e07639b69776d35e259d9c27cca6"
+checksum = "cec2b3485b07d96ddfd3134767b8a447b45ea4eb91448d0a35180ec0ffd5ed15"
 dependencies = [
  "bytecheck",
- "hashbrown 0.12.1",
+ "hashbrown 0.12.3",
  "ptr_meta",
  "rend",
  "rkyv_derive",
@@ -1389,9 +1485,9 @@ dependencies = [
 
 [[package]]
 name = "rkyv_derive"
-version = "0.7.38"
+version = "0.7.39"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "505c209ee04111a006431abf39696e640838364d67a107c559ababaf6fd8c9dd"
+checksum = "6eaedadc88b53e36dd32d940ed21ae4d850d5916f2581526921f553a72ac34c4"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1412,21 +1508,21 @@ checksum = "08d43f7aa6b08d49f382cde6a7982047c3426db949b1424bc4b7ec9ae12c6ce2"
 
 [[package]]
 name = "rustversion"
-version = "1.0.5"
+version = "1.0.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "61b3909d758bb75c79f23d4736fac9433868679d3ad2ea7a61e3c25cfda9a088"
+checksum = "97477e48b4cf8603ad5f7aaf897467cf42ab4218a38ef76fb14c2d6773a6d6a8"
 
 [[package]]
 name = "ryu"
-version = "1.0.5"
+version = "1.0.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "71d301d4193d031abdd79ff7e3dd721168a9572ef3fe51a1517aba235bd8f86e"
+checksum = "4501abdff3ae82a1c1b477a17252eb69cee9e66eb915c1abaa4f44d873df9f09"
 
 [[package]]
 name = "schemars"
-version = "0.8.10"
+version = "0.8.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1847b767a3d62d95cbf3d8a9f0e421cf57a0d8aa4f411d4b16525afb0284d4ed"
+checksum = "2a5fb6c61f29e723026dc8e923d94c694313212abbecbbe5f55a7748eec5b307"
 dependencies = [
  "dyn-clone",
  "schemars_derive",
@@ -1436,9 +1532,9 @@ dependencies = [
 
 [[package]]
 name = "schemars_derive"
-version = "0.8.10"
+version = "0.8.11"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "af4d7e1b012cb3d9129567661a63755ea4b8a7386d339dc945ae187e403c6743"
+checksum = "f188d036977451159430f3b8dc82ec76364a42b7e289c2b18a9a18f4470058e9"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1466,16 +1562,16 @@ checksum = "08da66b8b0965a5555b6bd6639e68ccba85e1e2506f5fbb089e93f8a04e1a2d1"
 dependencies = [
  "der 0.5.1",
  "generic-array",
- "pkcs8",
+ "pkcs8 0.8.0",
  "subtle",
  "zeroize",
 ]
 
 [[package]]
 name = "serde"
-version = "1.0.137"
+version = "1.0.147"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "61ea8d54c77f8315140a05f4c7237403bf38b72704d031543aa1d16abbf517d1"
+checksum = "d193d69bae983fc11a79df82342761dfbf28a99fc8d203dca4c3c1b590948965"
 dependencies = [
  "serde_derive",
 ]
@@ -1491,18 +1587,18 @@ dependencies = [
 
 [[package]]
 name = "serde_bytes"
-version = "0.11.5"
+version = "0.11.7"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "16ae07dd2f88a366f15bd0632ba725227018c69a1c8550a927324f8eb8368bb9"
+checksum = "cfc50e8183eeeb6178dcb167ae34a8051d63535023ae38b5d8d12beae193d37b"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "serde_derive"
-version = "1.0.137"
+version = "1.0.147"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1f26faba0c3959972377d3b2d306ee9f71faee9714294e41bb777f83f88578be"
+checksum = "4f1d362ca8fc9c3e3a7484440752472d68a6caa98f1ab81d99b5dfe517cec852"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1522,9 +1618,9 @@ dependencies = [
 
 [[package]]
 name = "serde_json"
-version = "1.0.71"
+version = "1.0.88"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "063bf466a64011ac24040a49009724ee60a57da1b437617ceb32e53ad61bfb19"
+checksum = "8e8b3801309262e8184d9687fb697586833e939767aea0dda89f5a8e650e8bd7"
 dependencies = [
  "itoa",
  "ryu",
@@ -1532,15 +1628,24 @@ dependencies = [
 ]
 
 [[package]]
-name = "sha2"
-version = "0.9.8"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b69f9a4c9740d74c5baa3fd2e547f9525fa8088a8a958e0ca2409a514e33f5fa"
+name = "serde_wormhole"
+version = "0.1.0"
 dependencies = [
- "block-buffer",
+ "itoa",
+ "serde",
+ "thiserror",
+]
+
+[[package]]
+name = "sha2"
+version = "0.9.9"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4d58a1e1bf39749807d89cf2d98ac2dfa0ff1cb3faa38fbb64dd88ac8013d800"
+dependencies = [
+ "block-buffer 0.9.0",
  "cfg-if",
  "cpufeatures",
- "digest",
+ "digest 0.9.0",
  "opaque-debug",
 ]
 
@@ -1550,12 +1655,22 @@ version = "0.9.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f81199417d4e5de3f04b1e871023acea7389672c4135918f05aa9cbf2f2fa809"
 dependencies = [
- "block-buffer",
- "digest",
+ "block-buffer 0.9.0",
+ "digest 0.9.0",
  "keccak",
  "opaque-debug",
 ]
 
+[[package]]
+name = "sha3"
+version = "0.10.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "bdf0c33fae925bdc080598b84bc15c55e7b9a4a43b3c704da051f977469691c9"
+dependencies = [
+ "digest 0.10.6",
+ "keccak",
+]
+
 [[package]]
 name = "shutdown-core-bridge-cosmwasm"
 version = "0.1.0"
@@ -1576,15 +1691,24 @@ version = "1.3.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f2807892cfa58e081aa1f1111391c7a0649d4fa127a4ffbe34bcbfb35a1171a4"
 dependencies = [
- "digest",
- "rand_core 0.6.3",
+ "digest 0.9.0",
+ "rand_core 0.6.4",
 ]
 
 [[package]]
 name = "smallvec"
-version = "1.7.0"
+version = "1.10.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1ecab6c735a6bb4139c0caafd0cc3635748bbb3acf4550e8138122099251f309"
+checksum = "a507befe795404456341dfab10cef66ead4c041f62b8b11bbb92bffe5d0953e0"
+
+[[package]]
+name = "spki"
+version = "0.4.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "5c01a0c15da1b0b0e1494112e7af814a678fec9bd157881b49beac661e9b6f32"
+dependencies = [
+ "der 0.4.5",
+]
 
 [[package]]
 name = "spki"
@@ -1608,12 +1732,6 @@ version = "1.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "a2eb9349b6444b326872e140eb1cf5e7c522154d69e7a0ffb0fb81c06b37543f"
 
-[[package]]
-name = "strsim"
-version = "0.10.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "73473c0e59e6d5812c5dfe2a064a6444949f089e20eec9a2e5506596494e4623"
-
 [[package]]
 name = "subtle"
 version = "2.4.1"
@@ -1622,9 +1740,9 @@ checksum = "6bdef32e8150c2a081110b42772ffe7d7c9032b606bc226c8260fd97e0976601"
 
 [[package]]
 name = "syn"
-version = "1.0.96"
+version = "1.0.103"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0748dd251e24453cb8717f0354206b91557e4ec8703673a4b30208f2abaf1ebf"
+checksum = "a864042229133ada95abf3b54fdc62ef5ccabe9515b64717bcb9a1919e59445d"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1633,19 +1751,19 @@ dependencies = [
 
 [[package]]
 name = "target-lexicon"
-version = "0.12.2"
+version = "0.12.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d9bffcddbc2458fa3e6058414599e3c838a022abae82e5c67b4f7f80298d5bff"
+checksum = "9410d0f6853b1d94f0e519fb95df60f29d2c1eff2d921ffdf01a4c8a3b54f12d"
 
 [[package]]
 name = "tempfile"
-version = "3.2.0"
+version = "3.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dac1c663cfc93810f88aed9b8941d48cabf856a1b111c29a40439018d870eb22"
+checksum = "5cdb1ef4eaeeaddc8fbd371e5017057064af0911902ef36b39801f67cc6d79e4"
 dependencies = [
  "cfg-if",
+ "fastrand",
  "libc",
- "rand",
  "redox_syscall",
  "remove_dir_all",
  "winapi",
@@ -1653,9 +1771,9 @@ dependencies = [
 
 [[package]]
 name = "terraswap"
-version = "2.6.1"
+version = "2.8.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "02458cd8271acd0fc98d097ca6d296f5f7abe6359ca841554db90de67c376500"
+checksum = "b9540f8489ec6e098de380c9fa8fa81fa95e502f87d63705aa6fba56817ad1a7"
 dependencies = [
  "cosmwasm-std",
  "cosmwasm-storage",
@@ -1667,24 +1785,40 @@ dependencies = [
 
 [[package]]
 name = "thiserror"
-version = "1.0.31"
+version = "1.0.37"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bd829fe32373d27f76265620b5309d0340cb8550f523c1dda251d6298069069a"
+checksum = "10deb33631e3c9018b9baf9dcbbc4f737320d2b576bac10f6aefa048fa407e3e"
 dependencies = [
  "thiserror-impl",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.31"
+version = "1.0.37"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0396bc89e626244658bef819e22d0cc459e795a5ebe878e6ec336d1674a8d79a"
+checksum = "982d17546b47146b28f7c22e3d08465f6b8903d0ea13c1660d9d84a6e7adcdbb"
 dependencies = [
  "proc-macro2",
  "quote",
  "syn",
 ]
 
+[[package]]
+name = "tinyvec"
+version = "1.6.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "87cc5ceb3875bb20c2890005a4e226a4651264a5c75edb2421b52861a0a0cb50"
+dependencies = [
+ "serde",
+ "tinyvec_macros",
+]
+
+[[package]]
+name = "tinyvec_macros"
+version = "0.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "cda74da7e1a664f795bb1f8a87ec406fb89a02522cf6e50620d016add6dbbf5c"
+
 [[package]]
 name = "token-bridge-terra-2"
 version = "0.1.0"
@@ -1702,7 +1836,7 @@ dependencies = [
  "schemars",
  "serde",
  "serde_json",
- "sha3",
+ "sha3 0.9.1",
  "terraswap",
  "thiserror",
  "wormhole-bridge-terra-2",
@@ -1710,9 +1844,9 @@ dependencies = [
 
 [[package]]
 name = "tracing"
-version = "0.1.29"
+version = "0.1.37"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "375a639232caf30edfc78e8d89b2d4c375515393e7af7e16f01cd96917fb2105"
+checksum = "8ce8c33a8d48bd45d624a6e523445fd21ec13d3653cd51f681abf67418f54eb8"
 dependencies = [
  "cfg-if",
  "log",
@@ -1723,9 +1857,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-attributes"
-version = "0.1.18"
+version = "0.1.23"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f4f480b8f81512e825f337ad51e94c1eb5d3bbdf2b363dcd01e2b19a9ffe3f8e"
+checksum = "4017f8f45139870ca7e672686113917c71c7a6e02d4924eda67186083c03081a"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1734,24 +1868,24 @@ dependencies = [
 
 [[package]]
 name = "tracing-core"
-version = "0.1.21"
+version = "0.1.30"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1f4ed65637b8390770814083d20756f87bfa2c21bf2f110babdc5438351746e4"
+checksum = "24eb03ba0eab1fd845050058ce5e616558e8f8d8fca633e6b163fe25c797213a"
 dependencies = [
- "lazy_static",
+ "once_cell",
 ]
 
 [[package]]
 name = "typenum"
-version = "1.14.0"
+version = "1.15.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b63708a265f51345575b27fe43f9500ad611579e764c79edbc2037b1121959ec"
+checksum = "dcf81ac59edc17cc8697ff311e8f5ef2d99fcbd9817b34cec66f90b6c3dfd987"
 
 [[package]]
 name = "uint"
-version = "0.9.3"
+version = "0.9.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "12f03af7ccf01dd611cc450a0d10dbc9b745770d096473e2faf0ca6e2d66d1e0"
+checksum = "a45526d29728d135c2900b0d30573fe3ee79fceb12ef534c7bb30e810a91b601"
 dependencies = [
  "byteorder",
  "crunchy 0.2.2",
@@ -1761,33 +1895,27 @@ dependencies = [
 
 [[package]]
 name = "unicode-ident"
-version = "1.0.0"
+version = "1.0.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d22af068fba1eb5edcb4aea19d382b2a3deb4c8f9d475c589b6ada9e0fd493ee"
+checksum = "6ceab39d59e4c9499d4e5a8ee0e2735b891bb7308ac83dfb4e80cad195c9f6f3"
 
 [[package]]
 name = "version_check"
-version = "0.9.3"
+version = "0.9.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5fecdca9a5291cc2b8dcf7dc02453fee791a280f3743cb0905f8822ae463b3fe"
+checksum = "49874b5167b65d7193b8aba1567f5c7d93d001cafc34600cee003eda787e483f"
 
 [[package]]
 name = "wasi"
-version = "0.9.0+wasi-snapshot-preview1"
+version = "0.11.0+wasi-snapshot-preview1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cccddf32554fecc6acb585f82a32a72e28b48f8c4c1883ddfeeeaa96f7d8e519"
-
-[[package]]
-name = "wasi"
-version = "0.10.2+wasi-snapshot-preview1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fd6fbd9a79829dd1ad0cc20627bf1ed606756a7f77edff7b66b7064f9cb327c6"
+checksum = "9c8d87e72b64a3b4db28d11ce29237c246188f4f51057d65a7eab63b7987e423"
 
 [[package]]
 name = "wasm-bindgen"
-version = "0.2.80"
+version = "0.2.83"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "27370197c907c55e3f1a9fbe26f44e937fe6451368324e009cba39e139dc08ad"
+checksum = "eaf9f5aceeec8be17c128b2e93e031fb8a4d469bb9c4ae2d7dc1888b26887268"
 dependencies = [
  "cfg-if",
  "wasm-bindgen-macro",
@@ -1795,13 +1923,13 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-backend"
-version = "0.2.80"
+version = "0.2.83"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "53e04185bfa3a779273da532f5025e33398409573f348985af9a1cbf3774d3f4"
+checksum = "4c8ffb332579b0557b52d268b91feab8df3615f265d5270fec2a8c95b17c1142"
 dependencies = [
  "bumpalo",
- "lazy_static",
  "log",
+ "once_cell",
  "proc-macro2",
  "quote",
  "syn",
@@ -1810,9 +1938,9 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-macro"
-version = "0.2.80"
+version = "0.2.83"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "17cae7ff784d7e83a2fe7611cfe766ecf034111b49deb850a3dc7699c08251f5"
+checksum = "052be0f94026e6cbc75cdefc9bae13fd6052cdcaf532fa6c45e7ae33a1e6c810"
 dependencies = [
  "quote",
  "wasm-bindgen-macro-support",
@@ -1820,9 +1948,9 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-macro-support"
-version = "0.2.80"
+version = "0.2.83"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "99ec0dc7a4756fffc231aab1b9f2f578d23cd391390ab27f952ae0c9b3ece20b"
+checksum = "07bc0c051dc5f23e307b13285f9d75df86bfdf816c5721e573dec1f9b8aa193c"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -1833,9 +1961,9 @@ dependencies = [
 
 [[package]]
 name = "wasm-bindgen-shared"
-version = "0.2.80"
+version = "0.2.83"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d554b7f530dee5964d9a9468d95c1f8b8acae4f282807e7d27d4b03099a46744"
+checksum = "1c38c045535d93ec4f0b4defec448e4291638ee608530863b1e2ba115d4fff7f"
 
 [[package]]
 name = "wasmer"
@@ -2069,13 +2197,13 @@ checksum = "52144d4c78e5cf8b055ceab8e5fa22814ce4315d6002ad32cfd914f37c12fd65"
 
 [[package]]
 name = "which"
-version = "4.2.2"
+version = "4.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ea187a8ef279bc014ec368c27a920da2024d2a711109bfbe3440585d5cf27ad9"
+checksum = "1c831fbbee9e129a8cf93e7747a82da9d95ba8e16621cae60ec2cdc849bacb7b"
 dependencies = [
  "either",
- "lazy_static",
  "libc",
+ "once_cell",
 ]
 
 [[package]]
@@ -2100,6 +2228,30 @@ version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "712e227841d057c1ee1cd2fb22fa7e5a5461ae8e48fa2ca79ec42cfc1931183f"
 
+[[package]]
+name = "wormchain-accounting"
+version = "0.1.0"
+dependencies = [
+ "accounting",
+ "anyhow",
+ "base64",
+ "cosmwasm-schema",
+ "cosmwasm-std",
+ "cosmwasm-storage",
+ "cw-multi-test",
+ "cw-storage-plus",
+ "cw2",
+ "hex",
+ "schemars",
+ "serde",
+ "serde_wormhole",
+ "thiserror",
+ "tinyvec",
+ "token-bridge-terra-2",
+ "wormhole-bindings",
+ "wormhole-core",
+]
+
 [[package]]
 name = "wormhole-bindings"
 version = "0.1.0"
@@ -2107,6 +2259,8 @@ dependencies = [
  "anyhow",
  "cosmwasm-schema",
  "cosmwasm-std",
+ "cw-multi-test",
+ "k256 0.9.6",
  "schemars",
  "serde",
 ]
@@ -2121,17 +2275,28 @@ dependencies = [
  "cw20-base",
  "cw20-wrapped-2",
  "generic-array",
- "getrandom 0.2.3",
+ "getrandom",
  "hex",
  "k256 0.9.6",
  "lazy_static",
  "schemars",
  "serde",
  "serde_json",
- "sha3",
+ "sha3 0.9.1",
  "thiserror",
 ]
 
+[[package]]
+name = "wormhole-core"
+version = "0.1.0"
+dependencies = [
+ "anyhow",
+ "bstr",
+ "serde",
+ "serde_wormhole",
+ "sha3 0.10.6",
+]
+
 [[package]]
 name = "zeroize"
 version = "1.4.3"
diff --git a/cosmwasm/Cargo.toml b/cosmwasm/Cargo.toml
index c82bede3b..32edc160f 100644
--- a/cosmwasm/Cargo.toml
+++ b/cosmwasm/Cargo.toml
@@ -7,9 +7,14 @@ members = [
     "contracts/shutdown-token-bridge",
     "contracts/mock-bridge-integration",
     "packages/accounting",
+    "contracts/wormchain-accounting",
     "packages/wormhole-bindings",
 ]
 
+# Needed to prevent unwanted feature unification between normal builds and dev builds.  See
+# https://doc.rust-lang.org/cargo/reference/resolver.html#resolver-versions for more details.
+resolver = "2"
+
 [profile.release]
 opt-level = 3
 debug = false
@@ -24,6 +29,9 @@ overflow-checks = true
 [patch.crates-io]
 accounting = { path = "packages/accounting" }
 cw20-wrapped-2 = { path = "contracts/cw20-wrapped" }
+serde_wormhole = { path = "../sdk/rust/serde_wormhole" }
 token-bridge-terra-2 = { path = "contracts/token-bridge" }
+wormchain-accounting = { path = "contracts/wormchain-accounting" }
 wormhole-bindings = { path = "packages/wormhole-bindings" }
 wormhole-bridge-terra-2 = { path = "contracts/wormhole" }
+wormhole-core = { path = "../sdk/rust/core" }
diff --git a/cosmwasm/Makefile b/cosmwasm/Makefile
index c72b6241e..8aa944eda 100644
--- a/cosmwasm/Makefile
+++ b/cosmwasm/Makefile
@@ -22,7 +22,7 @@ ifndef VALID_$(NETWORK)
 endif
 
 $(WASMS) artifacts/checksums.txt: $(SOURCE_FILES)
-	DOCKER_BUILDKIT=1 docker build --target artifacts -o artifacts .
+	DOCKER_BUILDKIT=1 docker build --target artifacts -o artifacts -f ../Dockerfile.cosmwasm ../
 
 payer-$(NETWORK).json:
 	$(error Missing private key in payer-$(NETWORK).json)
diff --git a/cosmwasm/contracts/wormchain-accounting/Cargo.toml b/cosmwasm/contracts/wormchain-accounting/Cargo.toml
new file mode 100644
index 000000000..b6f3c265c
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/Cargo.toml
@@ -0,0 +1,37 @@
+[package]
+name = "wormchain-accounting"
+version = "0.1.0"
+authors = ["Wormhole Project Contributors"]
+edition = "2021"
+
+[lib]
+crate-type = ["cdylib", "rlib"]
+
+[features]
+backtraces = ["cosmwasm-std/backtraces"]
+# use library feature to disable all instantiate/execute/query exports
+library = []
+
+[dependencies]
+accounting = "0.1.0"
+anyhow = "1"
+base64 = "0.13"
+cosmwasm-schema = "1"
+cosmwasm-std = "1"
+cosmwasm-storage = "1"
+cw-storage-plus = "0.13.2"
+cw2 = "0.13.2"
+hex = "0.4.3"
+schemars = "0.8.8"
+serde = { version = "1.0.137", default-features = false, features = ["derive"] }
+serde_wormhole = "0.1.0"
+thiserror = { version = "1.0.31" }
+tinyvec = { version = "1.6", default-features = false, features = ["alloc", "serde"]}
+tokenbridge = { package = "token-bridge-terra-2", version = "0.1.0", features = ["library"] }
+wormhole-bindings = "0.1.0"
+wormhole-core = "0.1.0"
+
+[dev-dependencies]
+anyhow = { version = "1", features = ["backtrace"] }
+cw-multi-test = "0.13.2"
+wormhole-bindings = { version = "0.1", features = ["fake"] }
diff --git a/cosmwasm/contracts/wormchain-accounting/examples/wormchain_accounting_schema.rs b/cosmwasm/contracts/wormchain-accounting/examples/wormchain_accounting_schema.rs
new file mode 100644
index 000000000..755f4d03f
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/examples/wormchain_accounting_schema.rs
@@ -0,0 +1,11 @@
+use cosmwasm_schema::write_api;
+
+use wormchain_accounting::msg::{ExecuteMsg, InstantiateMsg, QueryMsg};
+
+fn main() {
+    write_api! {
+        instantiate: InstantiateMsg,
+        execute: ExecuteMsg,
+        query: QueryMsg,
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/schema/wormchain-accounting.json b/cosmwasm/contracts/wormchain-accounting/schema/wormchain-accounting.json
new file mode 100644
index 000000000..8b0a514bd
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/schema/wormchain-accounting.json
@@ -0,0 +1,1031 @@
+{
+  "contract_name": "wormchain-accounting",
+  "contract_version": "0.1.0",
+  "idl_version": "1.0.0",
+  "instantiate": {
+    "$schema": "http://json-schema.org/draft-07/schema#",
+    "title": "InstantiateMsg",
+    "type": "object",
+    "required": [
+      "guardian_set_index",
+      "instantiate",
+      "signatures"
+    ],
+    "properties": {
+      "guardian_set_index": {
+        "type": "integer",
+        "format": "uint32",
+        "minimum": 0.0
+      },
+      "instantiate": {
+        "$ref": "#/definitions/Binary"
+      },
+      "signatures": {
+        "type": "array",
+        "items": {
+          "$ref": "#/definitions/Signature"
+        }
+      }
+    },
+    "additionalProperties": false,
+    "definitions": {
+      "Binary": {
+        "description": "Binary is a wrapper around Vec<u8> to add base64 de/serialization with serde. It also adds some helper methods to help encode inline.\n\nThis is only needed as serde-json-{core,wasm} has a horrible encoding for Vec<u8>",
+        "type": "string"
+      },
+      "Signature": {
+        "type": "object",
+        "required": [
+          "index",
+          "signature"
+        ],
+        "properties": {
+          "index": {
+            "description": "The index of the guardian in the guardian set.",
+            "type": "integer",
+            "format": "uint16",
+            "minimum": 0.0
+          },
+          "signature": {
+            "description": "The signature, which should be exactly 65 bytes with the following layout:\n\n```markdown 0  .. 64: Signature   (ECDSA) 64 .. 65: Recovery ID (ECDSA) ```",
+            "allOf": [
+              {
+                "$ref": "#/definitions/Binary"
+              }
+            ]
+          }
+        },
+        "additionalProperties": false
+      }
+    }
+  },
+  "execute": {
+    "$schema": "http://json-schema.org/draft-07/schema#",
+    "title": "ExecuteMsg",
+    "oneOf": [
+      {
+        "type": "object",
+        "required": [
+          "submit_observations"
+        ],
+        "properties": {
+          "submit_observations": {
+            "type": "object",
+            "required": [
+              "guardian_set_index",
+              "observations",
+              "signature"
+            ],
+            "properties": {
+              "guardian_set_index": {
+                "type": "integer",
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "observations": {
+                "$ref": "#/definitions/Binary"
+              },
+              "signature": {
+                "$ref": "#/definitions/Signature"
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "modify_balance"
+        ],
+        "properties": {
+          "modify_balance": {
+            "type": "object",
+            "required": [
+              "guardian_set_index",
+              "modification",
+              "signatures"
+            ],
+            "properties": {
+              "guardian_set_index": {
+                "type": "integer",
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "modification": {
+                "$ref": "#/definitions/Binary"
+              },
+              "signatures": {
+                "type": "array",
+                "items": {
+                  "$ref": "#/definitions/Signature"
+                }
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "upgrade_contract"
+        ],
+        "properties": {
+          "upgrade_contract": {
+            "type": "object",
+            "required": [
+              "guardian_set_index",
+              "signatures",
+              "upgrade"
+            ],
+            "properties": {
+              "guardian_set_index": {
+                "type": "integer",
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "signatures": {
+                "type": "array",
+                "items": {
+                  "$ref": "#/definitions/Signature"
+                }
+              },
+              "upgrade": {
+                "$ref": "#/definitions/Binary"
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      }
+    ],
+    "definitions": {
+      "Binary": {
+        "description": "Binary is a wrapper around Vec<u8> to add base64 de/serialization with serde. It also adds some helper methods to help encode inline.\n\nThis is only needed as serde-json-{core,wasm} has a horrible encoding for Vec<u8>",
+        "type": "string"
+      },
+      "Signature": {
+        "type": "object",
+        "required": [
+          "index",
+          "signature"
+        ],
+        "properties": {
+          "index": {
+            "description": "The index of the guardian in the guardian set.",
+            "type": "integer",
+            "format": "uint16",
+            "minimum": 0.0
+          },
+          "signature": {
+            "description": "The signature, which should be exactly 65 bytes with the following layout:\n\n```markdown 0  .. 64: Signature   (ECDSA) 64 .. 65: Recovery ID (ECDSA) ```",
+            "allOf": [
+              {
+                "$ref": "#/definitions/Binary"
+              }
+            ]
+          }
+        },
+        "additionalProperties": false
+      }
+    }
+  },
+  "query": {
+    "$schema": "http://json-schema.org/draft-07/schema#",
+    "title": "QueryMsg",
+    "oneOf": [
+      {
+        "type": "object",
+        "required": [
+          "balance"
+        ],
+        "properties": {
+          "balance": {
+            "$ref": "#/definitions/Key"
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "all_accounts"
+        ],
+        "properties": {
+          "all_accounts": {
+            "type": "object",
+            "properties": {
+              "limit": {
+                "type": [
+                  "integer",
+                  "null"
+                ],
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "start_after": {
+                "anyOf": [
+                  {
+                    "$ref": "#/definitions/Key"
+                  },
+                  {
+                    "type": "null"
+                  }
+                ]
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "transfer"
+        ],
+        "properties": {
+          "transfer": {
+            "$ref": "#/definitions/Key"
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "all_transfers"
+        ],
+        "properties": {
+          "all_transfers": {
+            "type": "object",
+            "properties": {
+              "limit": {
+                "type": [
+                  "integer",
+                  "null"
+                ],
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "start_after": {
+                "anyOf": [
+                  {
+                    "$ref": "#/definitions/Key"
+                  },
+                  {
+                    "type": "null"
+                  }
+                ]
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "pending_transfer"
+        ],
+        "properties": {
+          "pending_transfer": {
+            "$ref": "#/definitions/Key"
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "all_pending_transfers"
+        ],
+        "properties": {
+          "all_pending_transfers": {
+            "type": "object",
+            "properties": {
+              "limit": {
+                "type": [
+                  "integer",
+                  "null"
+                ],
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "start_after": {
+                "anyOf": [
+                  {
+                    "$ref": "#/definitions/Key"
+                  },
+                  {
+                    "type": "null"
+                  }
+                ]
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "modification"
+        ],
+        "properties": {
+          "modification": {
+            "type": "object",
+            "required": [
+              "sequence"
+            ],
+            "properties": {
+              "sequence": {
+                "type": "integer",
+                "format": "uint64",
+                "minimum": 0.0
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      },
+      {
+        "type": "object",
+        "required": [
+          "all_modifications"
+        ],
+        "properties": {
+          "all_modifications": {
+            "type": "object",
+            "properties": {
+              "limit": {
+                "type": [
+                  "integer",
+                  "null"
+                ],
+                "format": "uint32",
+                "minimum": 0.0
+              },
+              "start_after": {
+                "type": [
+                  "integer",
+                  "null"
+                ],
+                "format": "uint64",
+                "minimum": 0.0
+              }
+            },
+            "additionalProperties": false
+          }
+        },
+        "additionalProperties": false
+      }
+    ],
+    "definitions": {
+      "Key": {
+        "type": "object",
+        "required": [
+          "chain_id",
+          "token_address",
+          "token_chain"
+        ],
+        "properties": {
+          "chain_id": {
+            "type": "integer",
+            "format": "uint16",
+            "minimum": 0.0
+          },
+          "token_address": {
+            "$ref": "#/definitions/TokenAddress"
+          },
+          "token_chain": {
+            "type": "integer",
+            "format": "uint16",
+            "minimum": 0.0
+          }
+        },
+        "additionalProperties": false
+      },
+      "TokenAddress": {
+        "type": "string"
+      }
+    }
+  },
+  "migrate": null,
+  "sudo": null,
+  "responses": {
+    "all_accounts": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "AllAccountsResponse",
+      "type": "object",
+      "required": [
+        "accounts"
+      ],
+      "properties": {
+        "accounts": {
+          "type": "array",
+          "items": {
+            "$ref": "#/definitions/Account"
+          }
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Account": {
+          "type": "object",
+          "required": [
+            "balance",
+            "key"
+          ],
+          "properties": {
+            "balance": {
+              "$ref": "#/definitions/Balance"
+            },
+            "key": {
+              "$ref": "#/definitions/Key"
+            }
+          },
+          "additionalProperties": false
+        },
+        "Balance": {
+          "$ref": "#/definitions/Uint256"
+        },
+        "Key": {
+          "type": "object",
+          "required": [
+            "chain_id",
+            "token_address",
+            "token_chain"
+          ],
+          "properties": {
+            "chain_id": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "token_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "token_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "TokenAddress": {
+          "type": "string"
+        },
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    },
+    "all_modifications": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "AllModificationsResponse",
+      "type": "object",
+      "required": [
+        "modifications"
+      ],
+      "properties": {
+        "modifications": {
+          "type": "array",
+          "items": {
+            "$ref": "#/definitions/Modification"
+          }
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Kind": {
+          "type": "string",
+          "enum": [
+            "add",
+            "sub"
+          ]
+        },
+        "Modification": {
+          "type": "object",
+          "required": [
+            "amount",
+            "chain_id",
+            "kind",
+            "reason",
+            "sequence",
+            "token_address",
+            "token_chain"
+          ],
+          "properties": {
+            "amount": {
+              "$ref": "#/definitions/Uint256"
+            },
+            "chain_id": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "kind": {
+              "$ref": "#/definitions/Kind"
+            },
+            "reason": {
+              "type": "string"
+            },
+            "sequence": {
+              "type": "integer",
+              "format": "uint64",
+              "minimum": 0.0
+            },
+            "token_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "token_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "TokenAddress": {
+          "type": "string"
+        },
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    },
+    "all_pending_transfers": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "AllPendingTransfersResponse",
+      "type": "object",
+      "required": [
+        "pending"
+      ],
+      "properties": {
+        "pending": {
+          "type": "array",
+          "items": {
+            "$ref": "#/definitions/PendingTransfer"
+          }
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Binary": {
+          "description": "Binary is a wrapper around Vec<u8> to add base64 de/serialization with serde. It also adds some helper methods to help encode inline.\n\nThis is only needed as serde-json-{core,wasm} has a horrible encoding for Vec<u8>",
+          "type": "string"
+        },
+        "Data": {
+          "type": "object",
+          "required": [
+            "guardian_set_index",
+            "observation",
+            "signatures"
+          ],
+          "properties": {
+            "guardian_set_index": {
+              "type": "integer",
+              "format": "uint32",
+              "minimum": 0.0
+            },
+            "observation": {
+              "$ref": "#/definitions/Observation"
+            },
+            "signatures": {
+              "type": "array",
+              "items": {
+                "$ref": "#/definitions/Signature"
+              }
+            }
+          },
+          "additionalProperties": false
+        },
+        "Key": {
+          "type": "object",
+          "required": [
+            "emitter_address",
+            "emitter_chain",
+            "sequence"
+          ],
+          "properties": {
+            "emitter_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "emitter_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "sequence": {
+              "type": "integer",
+              "format": "uint64",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "Observation": {
+          "type": "object",
+          "required": [
+            "key",
+            "nonce",
+            "payload",
+            "tx_hash"
+          ],
+          "properties": {
+            "key": {
+              "$ref": "#/definitions/Key"
+            },
+            "nonce": {
+              "type": "integer",
+              "format": "uint32",
+              "minimum": 0.0
+            },
+            "payload": {
+              "$ref": "#/definitions/Binary"
+            },
+            "tx_hash": {
+              "$ref": "#/definitions/Binary"
+            }
+          },
+          "additionalProperties": false
+        },
+        "PendingTransfer": {
+          "type": "object",
+          "required": [
+            "data",
+            "key"
+          ],
+          "properties": {
+            "data": {
+              "type": "array",
+              "items": {
+                "$ref": "#/definitions/Data"
+              }
+            },
+            "key": {
+              "$ref": "#/definitions/Key"
+            }
+          },
+          "additionalProperties": false
+        },
+        "Signature": {
+          "type": "object",
+          "required": [
+            "index",
+            "signature"
+          ],
+          "properties": {
+            "index": {
+              "description": "The index of the guardian in the guardian set.",
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "signature": {
+              "description": "The signature, which should be exactly 65 bytes with the following layout:\n\n```markdown 0  .. 64: Signature   (ECDSA) 64 .. 65: Recovery ID (ECDSA) ```",
+              "allOf": [
+                {
+                  "$ref": "#/definitions/Binary"
+                }
+              ]
+            }
+          },
+          "additionalProperties": false
+        },
+        "TokenAddress": {
+          "type": "string"
+        }
+      }
+    },
+    "all_transfers": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "AllTransfersResponse",
+      "type": "object",
+      "required": [
+        "transfers"
+      ],
+      "properties": {
+        "transfers": {
+          "type": "array",
+          "items": {
+            "$ref": "#/definitions/Transfer"
+          }
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Data": {
+          "type": "object",
+          "required": [
+            "amount",
+            "recipient_chain",
+            "token_address",
+            "token_chain"
+          ],
+          "properties": {
+            "amount": {
+              "$ref": "#/definitions/Uint256"
+            },
+            "recipient_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "token_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "token_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "Key": {
+          "type": "object",
+          "required": [
+            "emitter_address",
+            "emitter_chain",
+            "sequence"
+          ],
+          "properties": {
+            "emitter_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "emitter_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "sequence": {
+              "type": "integer",
+              "format": "uint64",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "TokenAddress": {
+          "type": "string"
+        },
+        "Transfer": {
+          "type": "object",
+          "required": [
+            "data",
+            "key"
+          ],
+          "properties": {
+            "data": {
+              "$ref": "#/definitions/Data"
+            },
+            "key": {
+              "$ref": "#/definitions/Key"
+            }
+          },
+          "additionalProperties": false
+        },
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    },
+    "balance": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "Balance",
+      "allOf": [
+        {
+          "$ref": "#/definitions/Uint256"
+        }
+      ],
+      "definitions": {
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    },
+    "modification": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "Modification",
+      "type": "object",
+      "required": [
+        "amount",
+        "chain_id",
+        "kind",
+        "reason",
+        "sequence",
+        "token_address",
+        "token_chain"
+      ],
+      "properties": {
+        "amount": {
+          "$ref": "#/definitions/Uint256"
+        },
+        "chain_id": {
+          "type": "integer",
+          "format": "uint16",
+          "minimum": 0.0
+        },
+        "kind": {
+          "$ref": "#/definitions/Kind"
+        },
+        "reason": {
+          "type": "string"
+        },
+        "sequence": {
+          "type": "integer",
+          "format": "uint64",
+          "minimum": 0.0
+        },
+        "token_address": {
+          "$ref": "#/definitions/TokenAddress"
+        },
+        "token_chain": {
+          "type": "integer",
+          "format": "uint16",
+          "minimum": 0.0
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Kind": {
+          "type": "string",
+          "enum": [
+            "add",
+            "sub"
+          ]
+        },
+        "TokenAddress": {
+          "type": "string"
+        },
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    },
+    "pending_transfer": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "Data",
+      "type": "object",
+      "required": [
+        "guardian_set_index",
+        "observation",
+        "signatures"
+      ],
+      "properties": {
+        "guardian_set_index": {
+          "type": "integer",
+          "format": "uint32",
+          "minimum": 0.0
+        },
+        "observation": {
+          "$ref": "#/definitions/Observation"
+        },
+        "signatures": {
+          "type": "array",
+          "items": {
+            "$ref": "#/definitions/Signature"
+          }
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "Binary": {
+          "description": "Binary is a wrapper around Vec<u8> to add base64 de/serialization with serde. It also adds some helper methods to help encode inline.\n\nThis is only needed as serde-json-{core,wasm} has a horrible encoding for Vec<u8>",
+          "type": "string"
+        },
+        "Key": {
+          "type": "object",
+          "required": [
+            "emitter_address",
+            "emitter_chain",
+            "sequence"
+          ],
+          "properties": {
+            "emitter_address": {
+              "$ref": "#/definitions/TokenAddress"
+            },
+            "emitter_chain": {
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "sequence": {
+              "type": "integer",
+              "format": "uint64",
+              "minimum": 0.0
+            }
+          },
+          "additionalProperties": false
+        },
+        "Observation": {
+          "type": "object",
+          "required": [
+            "key",
+            "nonce",
+            "payload",
+            "tx_hash"
+          ],
+          "properties": {
+            "key": {
+              "$ref": "#/definitions/Key"
+            },
+            "nonce": {
+              "type": "integer",
+              "format": "uint32",
+              "minimum": 0.0
+            },
+            "payload": {
+              "$ref": "#/definitions/Binary"
+            },
+            "tx_hash": {
+              "$ref": "#/definitions/Binary"
+            }
+          },
+          "additionalProperties": false
+        },
+        "Signature": {
+          "type": "object",
+          "required": [
+            "index",
+            "signature"
+          ],
+          "properties": {
+            "index": {
+              "description": "The index of the guardian in the guardian set.",
+              "type": "integer",
+              "format": "uint16",
+              "minimum": 0.0
+            },
+            "signature": {
+              "description": "The signature, which should be exactly 65 bytes with the following layout:\n\n```markdown 0  .. 64: Signature   (ECDSA) 64 .. 65: Recovery ID (ECDSA) ```",
+              "allOf": [
+                {
+                  "$ref": "#/definitions/Binary"
+                }
+              ]
+            }
+          },
+          "additionalProperties": false
+        },
+        "TokenAddress": {
+          "type": "string"
+        }
+      }
+    },
+    "transfer": {
+      "$schema": "http://json-schema.org/draft-07/schema#",
+      "title": "Data",
+      "type": "object",
+      "required": [
+        "amount",
+        "recipient_chain",
+        "token_address",
+        "token_chain"
+      ],
+      "properties": {
+        "amount": {
+          "$ref": "#/definitions/Uint256"
+        },
+        "recipient_chain": {
+          "type": "integer",
+          "format": "uint16",
+          "minimum": 0.0
+        },
+        "token_address": {
+          "$ref": "#/definitions/TokenAddress"
+        },
+        "token_chain": {
+          "type": "integer",
+          "format": "uint16",
+          "minimum": 0.0
+        }
+      },
+      "additionalProperties": false,
+      "definitions": {
+        "TokenAddress": {
+          "type": "string"
+        },
+        "Uint256": {
+          "description": "An implementation of u256 that is using strings for JSON encoding/decoding, such that the full u256 range can be used for clients that convert JSON numbers to floats, like JavaScript and jq.\n\n# Examples\n\nUse `from` to create instances out of primitive uint types or `new` to provide big endian bytes:\n\n``` # use cosmwasm_std::Uint256; let a = Uint256::from(258u128); let b = Uint256::new([ 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 0u8, 1u8, 2u8, ]); assert_eq!(a, b); ```",
+          "type": "string"
+        }
+      }
+    }
+  }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/src/contract.rs b/cosmwasm/contracts/wormchain-accounting/src/contract.rs
new file mode 100644
index 000000000..3e6fe6de1
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/src/contract.rs
@@ -0,0 +1,461 @@
+use std::marker::PhantomData;
+
+use accounting::{
+    query_balance, query_modification, query_transfer,
+    state::{account, transfer, Modification, TokenAddress, Transfer},
+};
+use anyhow::{ensure, Context};
+#[cfg(not(feature = "library"))]
+use cosmwasm_std::entry_point;
+use cosmwasm_std::{
+    from_binary, to_binary, Binary, ConversionOverflowError, CosmosMsg, Deps, DepsMut, Empty, Env,
+    Event, MessageInfo, Order, Response, StdError, StdResult, Uint256, WasmMsg,
+};
+use cw2::set_contract_version;
+use cw_storage_plus::Bound;
+use tinyvec::{Array, TinyVec};
+use wormhole::token::Message;
+use wormhole_bindings::{Signature, WormholeQuery};
+
+use crate::{
+    bail,
+    error::{AnyError, ContractError},
+    msg::{
+        AllAccountsResponse, AllModificationsResponse, AllPendingTransfersResponse,
+        AllTransfersResponse, ExecuteMsg, Instantiate, InstantiateMsg, MigrateMsg, Observation,
+        QueryMsg, Upgrade,
+    },
+    state::{self, Data, PendingTransfer, PENDING_TRANSFERS, TOKENBRIDGE_ADDR},
+};
+
+// version info for migration info
+const CONTRACT_NAME: &str = "crates.io:wormchain-accounting";
+const CONTRACT_VERSION: &str = env!("CARGO_PKG_VERSION");
+
+#[cfg_attr(not(feature = "library"), entry_point)]
+pub fn instantiate(
+    deps: DepsMut<WormholeQuery>,
+    _env: Env,
+    info: MessageInfo,
+    msg: InstantiateMsg,
+) -> Result<Response, AnyError> {
+    set_contract_version(deps.storage, CONTRACT_NAME, CONTRACT_VERSION)
+        .context("failed to set contract version")?;
+
+    let _: Empty = deps
+        .querier
+        .query(
+            &WormholeQuery::VerifyQuorum {
+                data: msg.instantiate.clone(),
+                guardian_set_index: msg.guardian_set_index,
+                signatures: msg.signatures,
+            }
+            .into(),
+        )
+        .context(ContractError::VerifyQuorum)?;
+
+    let init: Instantiate =
+        from_binary(&msg.instantiate).context("failed to parse `Instantiate` message")?;
+
+    let tokenbridge_addr = deps
+        .api
+        .addr_validate(&init.tokenbridge_addr)
+        .context("failed to validate tokenbridge address")?;
+
+    TOKENBRIDGE_ADDR
+        .save(deps.storage, &tokenbridge_addr)
+        .context("failed to save tokenbridge address")?;
+
+    let event =
+        accounting::instantiate(deps, init.into()).context("failed to instantiate accounting")?;
+
+    Ok(Response::new()
+        .add_attribute("action", "instantiate")
+        .add_attribute("owner", info.sender)
+        .add_event(event))
+}
+
+#[cfg_attr(not(feature = "library"), entry_point)]
+pub fn migrate(_deps: DepsMut<WormholeQuery>, _env: Env, _msg: MigrateMsg) -> StdResult<Response> {
+    Ok(Response::default())
+}
+
+#[cfg_attr(not(feature = "library"), entry_point)]
+pub fn execute(
+    deps: DepsMut<WormholeQuery>,
+    env: Env,
+    info: MessageInfo,
+    msg: ExecuteMsg,
+) -> Result<Response, AnyError> {
+    match msg {
+        ExecuteMsg::SubmitObservations {
+            observations,
+            guardian_set_index,
+            signature,
+        } => submit_observations(deps, info, observations, guardian_set_index, signature),
+        ExecuteMsg::ModifyBalance {
+            modification,
+            guardian_set_index,
+            signatures,
+        } => modify_balance(deps, info, modification, guardian_set_index, signatures),
+        ExecuteMsg::UpgradeContract {
+            upgrade,
+            guardian_set_index,
+            signatures,
+        } => upgrade_contract(deps, env, info, upgrade, guardian_set_index, signatures),
+    }
+}
+
+fn submit_observations(
+    mut deps: DepsMut<WormholeQuery>,
+    info: MessageInfo,
+    observations: Binary,
+    guardian_set_index: u32,
+    signature: Signature,
+) -> Result<Response, AnyError> {
+    deps.querier
+        .query::<Empty>(
+            &WormholeQuery::VerifySignature {
+                data: observations.clone(),
+                guardian_set_index,
+                signature: signature.clone(),
+            }
+            .into(),
+        )
+        .context("failed to verify signature")?;
+
+    let quorum = deps
+        .querier
+        .query::<u32>(&WormholeQuery::CalculateQuorum { guardian_set_index }.into())
+        .and_then(|q| {
+            usize::try_from(q).map_err(|_| StdError::ConversionOverflow {
+                source: ConversionOverflowError::new("u32", "usize", q.to_string()),
+            })
+        })
+        .context("failed to calculate quorum")?;
+
+    let observations: Vec<Observation> =
+        from_binary(&observations).context("failed to parse `Observations`")?;
+
+    let events = observations
+        .into_iter()
+        .map(|o| {
+            handle_observation(
+                deps.branch(),
+                o,
+                guardian_set_index,
+                quorum,
+                signature.clone(),
+            )
+        })
+        .filter_map(Result::transpose)
+        .collect::<anyhow::Result<Vec<_>>>()
+        .context("failed to handle `Observation`")?;
+
+    Ok(Response::new()
+        .add_attribute("action", "submit_observations")
+        .add_attribute("owner", info.sender)
+        .add_events(events))
+}
+
+fn handle_observation(
+    mut deps: DepsMut<WormholeQuery>,
+    o: Observation,
+    guardian_set_index: u32,
+    quorum: usize,
+    sig: Signature,
+) -> anyhow::Result<Option<Event>> {
+    if accounting::has_transfer(deps.as_ref(), o.key.clone()) {
+        bail!("transfer for key \"{}\" already committed", o.key);
+    }
+
+    let key = PENDING_TRANSFERS.key(o.key.clone());
+    let mut pending = key
+        .may_load(deps.storage)
+        .map(Option::unwrap_or_default)
+        .context("failed to load `PendingTransfer`")?;
+    let data = match pending
+        .iter_mut()
+        .find(|d| d.guardian_set_index() == guardian_set_index && d.observation() == &o)
+    {
+        Some(d) => d,
+        None => {
+            pending.push(Data::new(o.clone(), guardian_set_index));
+            let back = pending.len() - 1;
+            &mut pending[back]
+        }
+    };
+
+    data.add_signature(sig)?;
+
+    if data.signatures().len() < quorum {
+        // Still need more signatures so just save the pending transfer data and exit.
+        key.save(deps.storage, &pending)
+            .context("failed to save pending transfers")?;
+
+        return Ok(None);
+    }
+
+    let (msg, _) = serde_wormhole::from_slice_with_payload(&o.payload)
+        .context("failed to parse observation payload")?;
+    let tx_data = match msg {
+        Message::Transfer {
+            amount,
+            token_address,
+            token_chain,
+            recipient_chain,
+            ..
+        }
+        | Message::TransferWithPayload {
+            amount,
+            token_address,
+            token_chain,
+            recipient_chain,
+            ..
+        } => transfer::Data {
+            amount: Uint256::from_be_bytes(amount.0),
+            token_address: TokenAddress::new(token_address.0),
+            token_chain: token_chain.into(),
+            recipient_chain: recipient_chain.into(),
+        },
+        _ => bail!("Unknown tokenbridge payload"),
+    };
+
+    let emitter_chain = o.key.emitter_chain();
+
+    let tokenbridge_addr = TOKENBRIDGE_ADDR
+        .load(deps.storage)
+        .context("failed to load tokenbridge addr")?;
+
+    let registered_emitter: Vec<u8> = deps
+        .querier
+        .query_wasm_smart(
+            tokenbridge_addr,
+            &tokenbridge::msg::QueryMsg::ChainRegistration {
+                chain: emitter_chain,
+            },
+        )
+        .context("failed to query chain registration")?;
+    ensure!(
+        *registered_emitter == **o.key.emitter_address(),
+        "unknown emitter address"
+    );
+
+    accounting::commit_transfer(
+        deps.branch(),
+        Transfer {
+            key: o.key.clone(),
+            data: tx_data,
+        },
+    )
+    .context("failed to commit transfer")?;
+
+    // Now that the transfer has been committed, we don't need to keep it in the pending list.
+    key.remove(deps.storage);
+
+    Ok(Some(
+        Event::new("Transfer")
+            .add_attribute("emitter_chain", o.key.emitter_chain().to_string())
+            .add_attribute("emitter_address", o.key.emitter_address().to_string())
+            .add_attribute("sequence", o.key.sequence().to_string())
+            .add_attribute("nonce", o.nonce.to_string())
+            .add_attribute("tx_hash", o.tx_hash.to_base64())
+            .add_attribute("payload", o.payload.to_base64()),
+    ))
+}
+
+fn modify_balance(
+    deps: DepsMut<WormholeQuery>,
+    info: MessageInfo,
+    modification: Binary,
+    guardian_set_index: u32,
+    signatures: Vec<Signature>,
+) -> Result<Response, AnyError> {
+    deps.querier
+        .query::<Empty>(
+            &WormholeQuery::VerifyQuorum {
+                data: modification.clone(),
+                guardian_set_index,
+                signatures: signatures.into_iter().map(From::from).collect(),
+            }
+            .into(),
+        )
+        .context(ContractError::VerifyQuorum)?;
+
+    let msg: Modification = from_binary(&modification).context("failed to parse `Modification`")?;
+
+    let event =
+        accounting::modify_balance(deps, msg).context("failed to modify account balance")?;
+
+    Ok(Response::new()
+        .add_attribute("action", "modify_balance")
+        .add_attribute("owner", info.sender)
+        .add_event(event))
+}
+
+fn upgrade_contract(
+    deps: DepsMut<WormholeQuery>,
+    env: Env,
+    info: MessageInfo,
+    upgrade: Binary,
+    guardian_set_index: u32,
+    signatures: Vec<Signature>,
+) -> Result<Response, AnyError> {
+    deps.querier
+        .query::<Empty>(
+            &WormholeQuery::VerifyQuorum {
+                data: upgrade.clone(),
+                guardian_set_index,
+                signatures: signatures.into_iter().map(From::from).collect(),
+            }
+            .into(),
+        )
+        .context(ContractError::VerifyQuorum)?;
+
+    let Upgrade { new_addr } = from_binary(&upgrade).context("failed to parse `Upgrade`")?;
+
+    let mut buf = 0u64.to_ne_bytes();
+    buf.copy_from_slice(&new_addr[24..]);
+    let new_contract = u64::from_be_bytes(buf);
+
+    Ok(Response::new()
+        .add_message(CosmosMsg::Wasm(WasmMsg::Migrate {
+            contract_addr: env.contract.address.to_string(),
+            new_code_id: new_contract,
+            msg: to_binary(&MigrateMsg {})?,
+        }))
+        .add_attribute("action", "contract_upgrade")
+        .add_attribute("owner", info.sender))
+}
+
+#[cfg_attr(not(feature = "library"), entry_point)]
+pub fn query(deps: Deps<WormholeQuery>, _env: Env, msg: QueryMsg) -> StdResult<Binary> {
+    match msg {
+        QueryMsg::Balance(key) => query_balance(deps, key).and_then(|resp| to_binary(&resp)),
+        QueryMsg::AllAccounts { start_after, limit } => {
+            query_all_accounts(deps, start_after, limit).and_then(|resp| to_binary(&resp))
+        }
+        QueryMsg::Transfer(req) => query_transfer(deps, req).and_then(|resp| to_binary(&resp)),
+        QueryMsg::AllTransfers { start_after, limit } => {
+            query_all_transfers(deps, start_after, limit).and_then(|resp| to_binary(&resp))
+        }
+        QueryMsg::PendingTransfer(req) => {
+            query_pending_transfer(deps, req).and_then(|resp| to_binary(&resp))
+        }
+        QueryMsg::AllPendingTransfers { start_after, limit } => {
+            query_all_pending_transfers(deps, start_after, limit).and_then(|resp| to_binary(&resp))
+        }
+        QueryMsg::Modification { sequence } => {
+            query_modification(deps, sequence).and_then(|resp| to_binary(&resp))
+        }
+        QueryMsg::AllModifications { start_after, limit } => {
+            query_all_modifications(deps, start_after, limit).and_then(|resp| to_binary(&resp))
+        }
+    }
+}
+
+fn query_all_accounts(
+    deps: Deps<WormholeQuery>,
+    start_after: Option<account::Key>,
+    limit: Option<u32>,
+) -> StdResult<AllAccountsResponse> {
+    if let Some(lim) = limit {
+        let l = lim
+            .try_into()
+            .map_err(|_| ConversionOverflowError::new("u32", "usize", lim.to_string()))?;
+        accounting::query_all_accounts(deps, start_after)
+            .take(l)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|accounts| AllAccountsResponse { accounts })
+    } else {
+        accounting::query_all_accounts(deps, start_after)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|accounts| AllAccountsResponse { accounts })
+    }
+}
+
+fn query_all_transfers(
+    deps: Deps<WormholeQuery>,
+    start_after: Option<transfer::Key>,
+    limit: Option<u32>,
+) -> StdResult<AllTransfersResponse> {
+    if let Some(lim) = limit {
+        let l = lim
+            .try_into()
+            .map_err(|_| ConversionOverflowError::new("u32", "usize", lim.to_string()))?;
+        accounting::query_all_transfers(deps, start_after)
+            .take(l)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|transfers| AllTransfersResponse { transfers })
+    } else {
+        accounting::query_all_transfers(deps, start_after)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|transfers| AllTransfersResponse { transfers })
+    }
+}
+
+#[inline]
+fn tinyvec_to_vec<A: Array>(tv: TinyVec<A>) -> Vec<A::Item> {
+    match tv {
+        TinyVec::Inline(mut arr) => arr.drain_to_vec(),
+        TinyVec::Heap(v) => v,
+    }
+}
+
+fn query_pending_transfer(
+    deps: Deps<WormholeQuery>,
+    key: transfer::Key,
+) -> StdResult<Vec<state::Data>> {
+    PENDING_TRANSFERS
+        .load(deps.storage, key)
+        .map(tinyvec_to_vec)
+}
+
+fn query_all_pending_transfers(
+    deps: Deps<WormholeQuery>,
+    start_after: Option<transfer::Key>,
+    limit: Option<u32>,
+) -> StdResult<AllPendingTransfersResponse> {
+    let start = start_after.map(|key| Bound::Exclusive((key, PhantomData)));
+
+    let iter = PENDING_TRANSFERS
+        .range(deps.storage, start, None, Order::Ascending)
+        .map(|item| {
+            item.map(|(key, tv)| PendingTransfer {
+                key,
+                data: tinyvec_to_vec(tv),
+            })
+        });
+
+    if let Some(lim) = limit {
+        let l = lim
+            .try_into()
+            .map_err(|_| ConversionOverflowError::new("u32", "usize", lim.to_string()))?;
+        iter.take(l)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|pending| AllPendingTransfersResponse { pending })
+    } else {
+        iter.collect::<StdResult<Vec<_>>>()
+            .map(|pending| AllPendingTransfersResponse { pending })
+    }
+}
+
+fn query_all_modifications(
+    deps: Deps<WormholeQuery>,
+    start_after: Option<u64>,
+    limit: Option<u32>,
+) -> StdResult<AllModificationsResponse> {
+    if let Some(lim) = limit {
+        let l = lim
+            .try_into()
+            .map_err(|_| ConversionOverflowError::new("u32", "usize", lim.to_string()))?;
+        accounting::query_all_modifications(deps, start_after)
+            .take(l)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|modifications| AllModificationsResponse { modifications })
+    } else {
+        accounting::query_all_modifications(deps, start_after)
+            .collect::<StdResult<Vec<_>>>()
+            .map(|modifications| AllModificationsResponse { modifications })
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/src/error.rs b/cosmwasm/contracts/wormchain-accounting/src/error.rs
new file mode 100644
index 000000000..9b817b1e6
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/src/error.rs
@@ -0,0 +1,59 @@
+use std::ops::{Deref, DerefMut};
+
+use anyhow::anyhow;
+use cosmwasm_std::StdError;
+use thiserror::Error;
+
+#[derive(Error, Debug)]
+pub enum ContractError {
+    #[error("failed to verify quorum")]
+    VerifyQuorum,
+}
+
+// This is a workaround for the fact that `cw_multi_test::ContractWrapper` doesn't support contract
+// functions returning `anyhow::Error` directly.
+#[derive(Error, Debug)]
+#[repr(transparent)]
+#[error("{0:#}")]
+pub struct AnyError(#[from] anyhow::Error);
+
+impl Deref for AnyError {
+    type Target = anyhow::Error;
+
+    fn deref(&self) -> &Self::Target {
+        &self.0
+    }
+}
+
+impl DerefMut for AnyError {
+    fn deref_mut(&mut self) -> &mut Self::Target {
+        &mut self.0
+    }
+}
+
+impl From<StdError> for AnyError {
+    fn from(e: StdError) -> AnyError {
+        anyhow!(e).into()
+    }
+}
+
+impl From<ContractError> for AnyError {
+    fn from(e: ContractError) -> AnyError {
+        anyhow!(e).into()
+    }
+}
+
+// Workaround for not being able to use the `bail!` macro directly.
+#[doc(hidden)]
+#[macro_export]
+macro_rules! bail {
+    ($msg:literal $(,)?) => {
+        return ::core::result::Result::Err(::anyhow::anyhow!($msg).into())
+    };
+    ($err:expr $(,)?) => {
+        return ::core::result::Result::Err(::anyhow::anyhow!($err).into())
+    };
+    ($fmt:expr, $($arg:tt)*) => {
+        return ::core::result::Result::Err(::anyhow::anyhow!($fmt, $($arg)*).into())
+    };
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/src/lib.rs b/cosmwasm/contracts/wormchain-accounting/src/lib.rs
new file mode 100644
index 000000000..dfedc9dc6
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/src/lib.rs
@@ -0,0 +1,6 @@
+pub mod contract;
+mod error;
+pub mod msg;
+pub mod state;
+
+pub use crate::error::ContractError;
diff --git a/cosmwasm/contracts/wormchain-accounting/src/msg.rs b/cosmwasm/contracts/wormchain-accounting/src/msg.rs
new file mode 100644
index 000000000..67ad5bed2
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/src/msg.rs
@@ -0,0 +1,145 @@
+use accounting::state::{account, transfer, Account, Modification, Transfer};
+use cosmwasm_schema::{cw_serde, QueryResponses};
+use cosmwasm_std::Binary;
+use wormhole_bindings::Signature;
+
+use crate::state::{self, PendingTransfer};
+
+#[cw_serde]
+pub struct Instantiate {
+    pub tokenbridge_addr: String,
+    pub accounts: Vec<Account>,
+    pub transfers: Vec<Transfer>,
+    pub modifications: Vec<Modification>,
+}
+
+impl From<Instantiate> for accounting::msg::Instantiate {
+    fn from(i: Instantiate) -> Self {
+        Self {
+            accounts: i.accounts,
+            transfers: i.transfers,
+            modifications: i.modifications,
+        }
+    }
+}
+
+#[cw_serde]
+pub struct InstantiateMsg {
+    // A serialized `Instantiate` message.
+    pub instantiate: Binary,
+    // The index of the guardian set used to sign this message.
+    pub guardian_set_index: u32,
+    // A quorum of signatures for `instantiate`.
+    pub signatures: Vec<Signature>,
+}
+
+#[cw_serde]
+#[derive(Default)]
+pub struct Observation {
+    // The key that uniquely identifies the observation.
+    pub key: transfer::Key,
+
+    // The nonce for the transfer.
+    pub nonce: u32,
+
+    // The hash of the transaction on the emitter chain in which the transfer
+    // was performed.
+    pub tx_hash: Binary,
+
+    // The serialized tokenbridge payload.
+    pub payload: Binary,
+}
+
+#[cw_serde]
+pub struct Upgrade {
+    pub new_addr: [u8; 32],
+}
+
+#[cw_serde]
+pub enum ExecuteMsg {
+    SubmitObservations {
+        // A serialized `Vec<Observation>`. Multiple observations can be submitted together to reduce
+        // transaction overhead.
+        observations: Binary,
+        // The index of the guardian set used to sign the observations.
+        guardian_set_index: u32,
+        // A signature for `observations`.
+        signature: Signature,
+    },
+    ModifyBalance {
+        // A serialized `Modification` message.
+        modification: Binary,
+
+        // The index of the guardian set used to sign this modification.
+        guardian_set_index: u32,
+
+        // A quorum of signatures for `modification`.
+        signatures: Vec<Signature>,
+    },
+    UpgradeContract {
+        // A serialized `Upgrade` message.
+        upgrade: Binary,
+
+        // The index of the guardian set used to sign this request.
+        guardian_set_index: u32,
+
+        // A quorum of signatures for `key`.
+        signatures: Vec<Signature>,
+    },
+}
+
+#[cw_serde]
+pub struct MigrateMsg {}
+
+#[cw_serde]
+#[derive(QueryResponses)]
+pub enum QueryMsg {
+    #[returns(account::Balance)]
+    Balance(account::Key),
+    #[returns(AllAccountsResponse)]
+    AllAccounts {
+        start_after: Option<account::Key>,
+        limit: Option<u32>,
+    },
+    #[returns(transfer::Data)]
+    Transfer(transfer::Key),
+    #[returns(AllTransfersResponse)]
+    AllTransfers {
+        start_after: Option<transfer::Key>,
+        limit: Option<u32>,
+    },
+    #[returns(state::Data)]
+    PendingTransfer(transfer::Key),
+    #[returns(AllPendingTransfersResponse)]
+    AllPendingTransfers {
+        start_after: Option<transfer::Key>,
+        limit: Option<u32>,
+    },
+    #[returns(Modification)]
+    Modification { sequence: u64 },
+    #[returns(AllModificationsResponse)]
+    AllModifications {
+        start_after: Option<u64>,
+        limit: Option<u32>,
+    },
+}
+
+#[cw_serde]
+pub struct AllAccountsResponse {
+    pub accounts: Vec<Account>,
+}
+
+#[cw_serde]
+pub struct AllTransfersResponse {
+    pub transfers: Vec<Transfer>,
+}
+
+#[cw_serde]
+pub struct AllPendingTransfersResponse {
+    pub pending: Vec<PendingTransfer>,
+}
+
+#[cw_serde]
+pub struct AllModificationsResponse {
+    pub modifications: Vec<Modification>,
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/src/state.rs b/cosmwasm/contracts/wormchain-accounting/src/state.rs
new file mode 100644
index 000000000..b20df1cad
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/src/state.rs
@@ -0,0 +1,69 @@
+use accounting::state::transfer;
+use cosmwasm_schema::cw_serde;
+use cosmwasm_std::Addr;
+use cw_storage_plus::{Item, Map};
+use thiserror::Error;
+use tinyvec::TinyVec;
+use wormhole_bindings::Signature;
+
+use crate::msg::Observation;
+
+pub const TOKENBRIDGE_ADDR: Item<Addr> = Item::new("tokenbride_addr");
+pub const PENDING_TRANSFERS: Map<transfer::Key, TinyVec<[Data; 2]>> = Map::new("pending_transfers");
+
+#[cw_serde]
+pub struct PendingTransfer {
+    pub key: transfer::Key,
+    pub data: Vec<Data>,
+}
+
+#[derive(Error, Debug)]
+#[error("cannot submit duplicate signatures for the same observation")]
+pub struct DuplicateSignatureError;
+
+#[cw_serde]
+#[derive(Default)]
+pub struct Data {
+    observation: Observation,
+
+    guardian_set_index: u32,
+
+    signatures: Vec<Signature>,
+}
+
+impl Data {
+    pub const fn new(observation: Observation, guardian_set_index: u32) -> Self {
+        Self {
+            observation,
+            guardian_set_index,
+            signatures: Vec::new(),
+        }
+    }
+
+    pub fn observation(&self) -> &Observation {
+        &self.observation
+    }
+
+    pub fn guardian_set_index(&self) -> u32 {
+        self.guardian_set_index
+    }
+
+    pub fn signatures(&self) -> &[Signature] {
+        &self.signatures
+    }
+
+    /// Adds `sig` to the list of signatures for this transfer data.  Returns true if `sig`
+    /// was successfully added or false if `sig` was already in the signature list.
+    pub fn add_signature(&mut self, sig: Signature) -> Result<(), DuplicateSignatureError> {
+        match self
+            .signatures
+            .binary_search_by_key(&sig.index, |s| s.index)
+        {
+            Ok(_) => Err(DuplicateSignatureError),
+            Err(idx) => {
+                self.signatures.insert(idx, sig);
+                Ok(())
+            }
+        }
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/helpers/fake_tokenbridge.rs b/cosmwasm/contracts/wormchain-accounting/tests/helpers/fake_tokenbridge.rs
new file mode 100644
index 000000000..fb4aed2a2
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/helpers/fake_tokenbridge.rs
@@ -0,0 +1,23 @@
+use cosmwasm_std::{
+    to_binary, Binary, Deps, DepsMut, Empty, Env, MessageInfo, Response, StdError, StdResult,
+};
+use tokenbridge::msg::QueryMsg;
+
+pub fn instantiate(_: DepsMut, _: Env, _: MessageInfo, _: Empty) -> StdResult<Response> {
+    Ok(Response::new())
+}
+
+pub fn execute(_: DepsMut, _: Env, _: MessageInfo, _: Empty) -> StdResult<Response> {
+    Err(StdError::GenericErr {
+        msg: "execute not implemented".into(),
+    })
+}
+
+pub fn query(_: Deps, _: Env, msg: QueryMsg) -> StdResult<Binary> {
+    match msg {
+        QueryMsg::ChainRegistration { chain } => to_binary(&vec![chain as u8; 32]),
+        _ => Err(StdError::GenericErr {
+            msg: "unimplemented query message".into(),
+        }),
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/helpers/mod.rs b/cosmwasm/contracts/wormchain-accounting/tests/helpers/mod.rs
new file mode 100644
index 000000000..d0d71ac2d
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/helpers/mod.rs
@@ -0,0 +1,310 @@
+#![allow(dead_code)]
+
+use accounting::state::{account, transfer, Account, Kind, Modification, Transfer};
+use cosmwasm_std::{
+    testing::{MockApi, MockStorage},
+    to_binary, Addr, Binary, Coin, Empty, StdResult, Uint128, Uint256,
+};
+use cw_multi_test::{
+    App, AppBuilder, AppResponse, BankKeeper, ContractWrapper, Executor, WasmKeeper,
+};
+use wormchain_accounting::{
+    msg::{
+        AllAccountsResponse, AllModificationsResponse, AllPendingTransfersResponse,
+        AllTransfersResponse, ExecuteMsg, Instantiate, InstantiateMsg, QueryMsg,
+    },
+    state,
+};
+use wormhole_bindings::{fake, WormholeQuery};
+
+mod fake_tokenbridge;
+
+pub struct Contract {
+    addr: Addr,
+    app: FakeApp,
+}
+
+impl Contract {
+    pub fn addr(&self) -> Addr {
+        self.addr.clone()
+    }
+
+    pub fn app(&self) -> &FakeApp {
+        &self.app
+    }
+
+    pub fn app_mut(&mut self) -> &mut FakeApp {
+        &mut self.app
+    }
+
+    pub fn submit_observations(
+        &mut self,
+        observations: Binary,
+        guardian_set_index: u32,
+        signature: wormhole_bindings::Signature,
+    ) -> anyhow::Result<AppResponse> {
+        self.app.execute_contract(
+            Addr::unchecked(USER),
+            self.addr(),
+            &ExecuteMsg::SubmitObservations {
+                observations,
+                guardian_set_index,
+                signature,
+            },
+            &[],
+        )
+    }
+
+    pub fn modify_balance(
+        &mut self,
+        modification: Binary,
+        guardian_set_index: u32,
+        signatures: Vec<wormhole_bindings::Signature>,
+    ) -> anyhow::Result<AppResponse> {
+        self.app.execute_contract(
+            Addr::unchecked(USER),
+            self.addr(),
+            &ExecuteMsg::ModifyBalance {
+                modification,
+                guardian_set_index,
+                signatures,
+            },
+            &[],
+        )
+    }
+
+    pub fn upgrade_contract(
+        &mut self,
+        upgrade: Binary,
+        guardian_set_index: u32,
+        signatures: Vec<wormhole_bindings::Signature>,
+    ) -> anyhow::Result<AppResponse> {
+        self.app.execute_contract(
+            Addr::unchecked(ADMIN),
+            self.addr(),
+            &ExecuteMsg::UpgradeContract {
+                upgrade,
+                guardian_set_index,
+                signatures,
+            },
+            &[],
+        )
+    }
+
+    pub fn query_balance(&self, key: account::Key) -> StdResult<account::Balance> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::Balance(key))
+    }
+
+    pub fn query_all_accounts(
+        &self,
+        start_after: Option<account::Key>,
+        limit: Option<u32>,
+    ) -> StdResult<AllAccountsResponse> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::AllAccounts { start_after, limit })
+    }
+
+    pub fn query_transfer(&self, key: transfer::Key) -> StdResult<transfer::Data> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::Transfer(key))
+    }
+
+    pub fn query_all_transfers(
+        &self,
+        start_after: Option<transfer::Key>,
+        limit: Option<u32>,
+    ) -> StdResult<AllTransfersResponse> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::AllTransfers { start_after, limit })
+    }
+
+    pub fn query_pending_transfer(&self, key: transfer::Key) -> StdResult<Vec<state::Data>> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::PendingTransfer(key))
+    }
+
+    pub fn query_all_pending_transfers(
+        &self,
+        start_after: Option<transfer::Key>,
+        limit: Option<u32>,
+    ) -> StdResult<AllPendingTransfersResponse> {
+        self.app.wrap().query_wasm_smart(
+            self.addr(),
+            &QueryMsg::AllPendingTransfers { start_after, limit },
+        )
+    }
+
+    pub fn query_modification(&self, sequence: u64) -> StdResult<Modification> {
+        self.app
+            .wrap()
+            .query_wasm_smart(self.addr(), &QueryMsg::Modification { sequence })
+    }
+
+    pub fn query_all_modifications(
+        &self,
+        start_after: Option<u64>,
+        limit: Option<u32>,
+    ) -> StdResult<AllModificationsResponse> {
+        self.app.wrap().query_wasm_smart(
+            self.addr(),
+            &QueryMsg::AllModifications { start_after, limit },
+        )
+    }
+}
+
+const USER: &str = "USER";
+const ADMIN: &str = "ADMIN";
+const NATIVE_DENOM: &str = "denom";
+
+pub type FakeApp =
+    App<BankKeeper, MockApi, MockStorage, fake::WormholeKeeper, WasmKeeper<Empty, WormholeQuery>>;
+
+fn fake_app(wh: fake::WormholeKeeper) -> FakeApp {
+    AppBuilder::new_custom()
+        .with_custom(wh)
+        .build(|router, _, storage| {
+            router
+                .bank
+                .init_balance(
+                    storage,
+                    &Addr::unchecked(USER),
+                    vec![Coin {
+                        denom: NATIVE_DENOM.to_string(),
+                        amount: Uint128::new(1),
+                    }],
+                )
+                .unwrap();
+        })
+}
+
+pub fn create_accounts(count: usize) -> Vec<Account> {
+    let mut out = Vec::with_capacity(count * count);
+    for i in 0..count {
+        for j in 0..count {
+            let key = account::Key::new(i as u16, j as u16, [i as u8; 32].into());
+            let balance = Uint256::from(j as u128).into();
+            out.push(Account { key, balance });
+        }
+    }
+
+    out
+}
+
+pub fn create_transfers(count: usize) -> Vec<Transfer> {
+    let mut out = Vec::with_capacity(count);
+    for i in 0..count {
+        let key = transfer::Key::new(i as u16, [i as u8; 32].into(), i as u64);
+        let data = transfer::Data {
+            amount: Uint256::from(i as u128),
+            token_chain: i as u16,
+            token_address: [i as u8; 32].into(),
+            recipient_chain: i as u16,
+        };
+
+        out.push(Transfer { key, data });
+    }
+
+    out
+}
+
+pub fn create_modifications(count: usize) -> Vec<Modification> {
+    let mut out = Vec::with_capacity(count);
+    for i in 0..count {
+        let m = Modification {
+            sequence: i as u64,
+            chain_id: i as u16,
+            token_chain: i as u16,
+            token_address: [i as u8; 32].into(),
+            kind: if i % 2 == 0 { Kind::Add } else { Kind::Sub },
+            amount: Uint256::from(i as u128),
+            reason: format!("{i}"),
+        };
+        out.push(m);
+    }
+
+    out
+}
+
+pub fn proper_instantiate(
+    accounts: Vec<Account>,
+    transfers: Vec<Transfer>,
+    modifications: Vec<Modification>,
+) -> (fake::WormholeKeeper, Contract) {
+    let wh = fake::WormholeKeeper::new();
+    let mut app = fake_app(wh.clone());
+
+    let tokenbridge_id = app.store_code(Box::new(ContractWrapper::new_with_empty(
+        fake_tokenbridge::execute,
+        fake_tokenbridge::instantiate,
+        fake_tokenbridge::query,
+    )));
+
+    let accounting_id = app.store_code(Box::new(ContractWrapper::new(
+        wormchain_accounting::contract::execute,
+        wormchain_accounting::contract::instantiate,
+        wormchain_accounting::contract::query,
+    )));
+
+    let tokenbridge_addr = app
+        .instantiate_contract(
+            tokenbridge_id,
+            Addr::unchecked(ADMIN),
+            &Empty {},
+            &[],
+            "tokenbridge",
+            None,
+        )
+        .unwrap()
+        .into();
+
+    let instantiate = to_binary(&Instantiate {
+        tokenbridge_addr,
+        accounts,
+        transfers,
+        modifications,
+    })
+    .unwrap();
+
+    let signatures = wh.sign(&instantiate);
+    let msg = InstantiateMsg {
+        instantiate,
+        guardian_set_index: wh.guardian_set_index(),
+        signatures,
+    };
+
+    // We want the contract to be able to upgrade itself, which means we have to set the contract
+    // as its own admin.  So we have a bit of a catch-22 where we need to know the contract
+    // address to register it but we need to register it to get its address.  The hacky solution
+    // here is to rely on the internal details of the test framework to figure out what the
+    // address of the contract is going to be and then use that.
+    //
+    // TODO: Figure out a better way to do this.  One option is to do something like:
+    //
+    // ```
+    // let mut data = app.contract_data(&addr).unwrap();
+    // data.admin = Some(addr.clone());
+    // app.init_modules(|router, _, storage| router.wasm.save_contract(storage, &addr, &data))
+    //     .unwrap();
+    // ```
+    //
+    // Unfortunately, the `wasm` field of `router` is private to the `cw-multi-test` crate so we
+    // can't use it here.  Maybe something to bring up with upstream.
+    let addr = app
+        .instantiate_contract(
+            accounting_id,
+            Addr::unchecked(ADMIN),
+            &msg,
+            &[],
+            "accounting",
+            Some("contract1".into()),
+        )
+        .unwrap();
+
+    (wh, Contract { addr, app })
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/instantiate.rs b/cosmwasm/contracts/wormchain-accounting/tests/instantiate.rs
new file mode 100644
index 000000000..e3e055b5e
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/instantiate.rs
@@ -0,0 +1,29 @@
+mod helpers;
+
+use helpers::*;
+
+#[test]
+fn instantiate_contract() {
+    const COUNT: usize = 5;
+    let accounts = create_accounts(COUNT);
+    let transfers = create_transfers(COUNT);
+    let modifications = create_modifications(COUNT);
+
+    let (_, contract) =
+        proper_instantiate(accounts.clone(), transfers.clone(), modifications.clone());
+
+    for a in accounts {
+        let balance = contract.query_balance(a.key).unwrap();
+        assert_eq!(a.balance, balance);
+    }
+
+    for t in transfers {
+        let data = contract.query_transfer(t.key).unwrap();
+        assert_eq!(t.data, data);
+    }
+
+    for m in modifications {
+        let data = contract.query_modification(m.sequence).unwrap();
+        assert_eq!(m, data);
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/modify_balance.rs b/cosmwasm/contracts/wormchain-accounting/tests/modify_balance.rs
new file mode 100644
index 000000000..fcf969816
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/modify_balance.rs
@@ -0,0 +1,243 @@
+mod helpers;
+
+use accounting::state::{account, Kind, Modification};
+use cosmwasm_std::{to_binary, Event, Uint256};
+use helpers::*;
+
+#[test]
+fn simple_modify() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    let resp = contract
+        .modify_balance(modification, index, signatures)
+        .unwrap();
+
+    let evt = Event::new("wasm-ModifyBalance")
+        .add_attribute("sequence", m.sequence.to_string())
+        .add_attribute("chain_id", m.chain_id.to_string())
+        .add_attribute("token_chain", m.token_chain.to_string())
+        .add_attribute("token_address", m.token_address.to_string())
+        .add_attribute("kind", m.kind.to_string())
+        .add_attribute("amount", m.amount)
+        .add_attribute("reason", m.reason.clone());
+
+    resp.assert_event(&evt);
+
+    let actual = contract.query_modification(m.sequence).unwrap();
+    assert_eq!(m, actual);
+
+    let balance = contract
+        .query_balance(account::Key::new(
+            m.chain_id,
+            m.token_chain,
+            m.token_address,
+        ))
+        .unwrap();
+    assert_eq!(m.amount, *balance);
+}
+
+#[test]
+fn duplicate_modify() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    contract
+        .modify_balance(modification.clone(), index, signatures.clone())
+        .unwrap();
+
+    contract
+        .modify_balance(modification, index, signatures)
+        .expect_err("successfully submitted duplicate modification");
+}
+
+#[test]
+fn round_trip() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let mut m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    contract
+        .modify_balance(modification, index, signatures)
+        .unwrap();
+
+    let actual = contract.query_modification(m.sequence).unwrap();
+    assert_eq!(m, actual);
+
+    // Now reverse the modification.
+    m.sequence += 1;
+    m.kind = Kind::Sub;
+    m.reason = "reverse".into();
+
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    contract
+        .modify_balance(modification, index, signatures)
+        .unwrap();
+
+    let actual = contract.query_modification(m.sequence).unwrap();
+    assert_eq!(m, actual);
+
+    let balance = contract
+        .query_balance(account::Key::new(
+            m.chain_id,
+            m.token_chain,
+            m.token_address,
+        ))
+        .unwrap();
+    assert_eq!(Uint256::zero(), *balance);
+}
+
+#[test]
+fn missing_guardian_set() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    contract
+        .modify_balance(modification, index + 1, signatures)
+        .expect_err("successfully modified balance with invalid guardian set");
+}
+
+#[test]
+fn expired_guardian_set() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let mut block = contract.app().block_info();
+    wh.set_expiration(block.height);
+    block.height += 1;
+    contract.app_mut().set_block(block);
+
+    let m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let signatures = wh.sign(&modification);
+    contract
+        .modify_balance(modification, index, signatures)
+        .expect_err("successfully modified balance with expired guardian set");
+}
+
+#[test]
+fn no_quorum() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+    let modification = to_binary(&m).unwrap();
+
+    let mut signatures = wh.sign(&modification);
+    let newlen = wh
+        .calculate_quorum(0, contract.app().block_info().height)
+        .map(|q| (q - 1) as usize)
+        .unwrap();
+    signatures.truncate(newlen);
+
+    contract
+        .modify_balance(modification, index, signatures)
+        .expect_err("successfully submitted modification without quorum");
+}
+
+#[test]
+fn repeat() {
+    const ITERATIONS: usize = 10;
+
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+    let mut m = Modification {
+        sequence: 0,
+        chain_id: 1,
+        token_chain: 1,
+        token_address: [0x7c; 32].into(),
+        kind: Kind::Add,
+        amount: Uint256::from(300u128),
+        reason: "test".into(),
+    };
+
+    for _ in 0..ITERATIONS {
+        m.sequence += 1;
+
+        let modification = to_binary(&m).unwrap();
+
+        let signatures = wh.sign(&modification);
+        contract
+            .modify_balance(modification, index, signatures)
+            .unwrap();
+
+        let actual = contract.query_modification(m.sequence).unwrap();
+        assert_eq!(m, actual);
+    }
+
+    let balance = contract
+        .query_balance(account::Key::new(
+            m.chain_id,
+            m.token_chain,
+            m.token_address,
+        ))
+        .unwrap();
+    assert_eq!(m.amount * Uint256::from(ITERATIONS as u128), *balance);
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/query.rs b/cosmwasm/contracts/wormchain-accounting/tests/query.rs
new file mode 100644
index 000000000..aeb136c04
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/query.rs
@@ -0,0 +1,276 @@
+mod helpers;
+
+use std::collections::BTreeMap;
+
+use accounting::state::{
+    account::{self, Balance},
+    transfer, Kind, Modification,
+};
+use cosmwasm_std::Uint256;
+use helpers::*;
+use wormhole_bindings::fake;
+
+fn set_up(count: usize) -> (fake::WormholeKeeper, Contract) {
+    let accounts = create_accounts(count);
+    let transfers = create_transfers(count);
+    let modifications = create_modifications(count);
+
+    proper_instantiate(accounts, transfers, modifications)
+}
+
+#[test]
+fn account_balance() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        for j in 0..count {
+            let key = account::Key::new(i as u16, j as u16, [i as u8; 32].into());
+            let balance = contract.query_balance(key).unwrap();
+            assert_eq!(balance, Balance::new(Uint256::from(j as u128)))
+        }
+    }
+}
+
+#[test]
+fn missing_account() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    let missing = account::Key::new(
+        (count + 1) as u16,
+        (count + 2) as u16,
+        [(count + 3) as u8; 32].into(),
+    );
+
+    contract
+        .query_balance(missing)
+        .expect_err("successfully queried missing account key");
+}
+
+#[test]
+fn all_balances() {
+    let count = 3;
+    let (_, contract) = set_up(count);
+
+    let resp = contract.query_all_accounts(None, None).unwrap();
+    let found = resp
+        .accounts
+        .into_iter()
+        .map(|acc| (acc.key, acc.balance))
+        .collect::<BTreeMap<_, _>>();
+    assert_eq!(found.len(), count * count);
+
+    for i in 0..count {
+        for j in 0..count {
+            let key = account::Key::new(i as u16, j as u16, [i as u8; 32].into());
+            assert!(found.contains_key(&key));
+        }
+    }
+}
+
+#[test]
+fn all_balances_sub_range() {
+    let count = 3;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        for j in 0..count {
+            let max_limit = (count - i - 1) * count + (count - j - 1);
+            for l in 1..=max_limit {
+                let start_after = Some(account::Key::new(i as u16, j as u16, [i as u8; 32].into()));
+                let limit = Some(l as u32);
+                let resp = contract.query_all_accounts(start_after, limit).unwrap();
+                let found = resp
+                    .accounts
+                    .into_iter()
+                    .map(|acc| (acc.key, acc.balance))
+                    .collect::<BTreeMap<_, _>>();
+                assert_eq!(found.len(), l);
+
+                let mut checked = 0;
+                for y in j + 1..count {
+                    if checked >= l {
+                        break;
+                    }
+
+                    let key = account::Key::new(i as u16, y as u16, [i as u8; 32].into());
+                    assert!(found.contains_key(&key));
+                    checked += 1;
+                }
+
+                'outer: for x in i + 1..count {
+                    for y in 0..count {
+                        if checked >= l {
+                            break 'outer;
+                        }
+                        let key = account::Key::new(x as u16, y as u16, [x as u8; 32].into());
+                        assert!(found.contains_key(&key));
+                        checked += 1;
+                    }
+                }
+            }
+        }
+    }
+}
+
+#[test]
+fn transfer_data() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        let expected = transfer::Data {
+            amount: Uint256::from(i as u128),
+            token_chain: i as u16,
+            token_address: [i as u8; 32].into(),
+            recipient_chain: i as u16,
+        };
+
+        let key = transfer::Key::new(i as u16, [i as u8; 32].into(), i as u64);
+        let actual = contract.query_transfer(key).unwrap();
+
+        assert_eq!(expected, actual);
+    }
+}
+
+#[test]
+fn missing_transfer() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    let missing = transfer::Key::new(
+        (count + 1) as u16,
+        [(count + 2) as u8; 32].into(),
+        (count + 3) as u64,
+    );
+
+    contract
+        .query_transfer(missing)
+        .expect_err("successfully queried missing transfer key");
+}
+
+#[test]
+fn all_transfer_data() {
+    let count = 3;
+    let (_, contract) = set_up(count);
+
+    let resp = contract.query_all_transfers(None, None).unwrap();
+    let found = resp
+        .transfers
+        .into_iter()
+        .map(|acc| (acc.key, acc.data))
+        .collect::<BTreeMap<_, _>>();
+    assert_eq!(found.len(), count);
+
+    for i in 0..count {
+        let key = transfer::Key::new(i as u16, [i as u8; 32].into(), i as u64);
+        assert!(found.contains_key(&key));
+    }
+}
+
+#[test]
+fn all_transfer_data_sub_range() {
+    let count = 5;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        for l in 1..count - i {
+            let start_after = Some(transfer::Key::new(i as u16, [i as u8; 32].into(), i as u64));
+            let limit = Some(l as u32);
+            let resp = contract.query_all_transfers(start_after, limit).unwrap();
+            let found = resp
+                .transfers
+                .into_iter()
+                .map(|acc| (acc.key, acc.data))
+                .collect::<BTreeMap<_, _>>();
+            assert_eq!(found.len(), l);
+
+            for x in i + 1..=i + l {
+                let key = transfer::Key::new(x as u16, [x as u8; 32].into(), x as u64);
+                assert!(found.contains_key(&key));
+            }
+        }
+    }
+}
+
+#[test]
+fn modification_data() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        let expected = Modification {
+            sequence: i as u64,
+            chain_id: i as u16,
+            token_chain: i as u16,
+            token_address: [i as u8; 32].into(),
+            kind: if i % 2 == 0 { Kind::Add } else { Kind::Sub },
+            amount: Uint256::from(i as u128),
+            reason: format!("{i}"),
+        };
+
+        let key = i as u64;
+        let actual = contract.query_modification(key).unwrap();
+
+        assert_eq!(expected, actual);
+    }
+}
+
+#[test]
+fn missing_modification() {
+    let count = 2;
+    let (_, contract) = set_up(count);
+
+    let missing = (count + 1) as u64;
+
+    contract
+        .query_modification(missing)
+        .expect_err("successfully queried missing modification key");
+}
+
+#[test]
+fn all_modification_data() {
+    let count = 3;
+    let (_, contract) = set_up(count);
+
+    let resp = contract.query_all_modifications(None, None).unwrap();
+    let found = resp
+        .modifications
+        .into_iter()
+        .map(|m| (m.sequence, m))
+        .collect::<BTreeMap<_, _>>();
+    assert_eq!(found.len(), count);
+
+    for i in 0..count {
+        let key = i as u64;
+        assert!(found.contains_key(&key));
+    }
+}
+
+#[test]
+fn all_modification_data_sub_range() {
+    let count = 5;
+    let (_, contract) = set_up(count);
+
+    for i in 0..count {
+        for l in 1..count - i {
+            let start_after = Some(i as u64);
+            let limit = Some(l as u32);
+            let resp = contract
+                .query_all_modifications(start_after, limit)
+                .unwrap();
+            let found = resp
+                .modifications
+                .into_iter()
+                .map(|m| (m.sequence, m))
+                .collect::<BTreeMap<_, _>>();
+            assert_eq!(found.len(), l);
+
+            for x in i + 1..=i + l {
+                let key = x as u64;
+                assert!(found.contains_key(&key));
+            }
+        }
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/submit_observations.rs b/cosmwasm/contracts/wormchain-accounting/tests/submit_observations.rs
new file mode 100644
index 000000000..02da10549
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/submit_observations.rs
@@ -0,0 +1,755 @@
+mod helpers;
+
+use accounting::state::{
+    account::{self, Balance},
+    transfer, Account, TokenAddress,
+};
+use cosmwasm_std::{to_binary, Binary, Event, Uint256};
+use cw_multi_test::AppResponse;
+use helpers::*;
+use wormchain_accounting::msg::Observation;
+use wormhole::{token::Message, Address, Amount};
+use wormhole_bindings::fake;
+
+fn set_up(count: usize) -> (Vec<Message>, Vec<Observation>) {
+    let mut txs = Vec::with_capacity(count);
+    let mut observations = Vec::with_capacity(count);
+    for i in 0..count {
+        let key = transfer::Key::new(i as u16, [i as u8; 32].into(), i as u64);
+        let tx = Message::Transfer {
+            amount: Amount(Uint256::from(500u128).to_be_bytes()),
+            token_address: Address([(i + 1) as u8; 32]),
+            token_chain: (i as u16).into(),
+            recipient: Address([(i + 2) as u8; 32]),
+            recipient_chain: ((i + 3) as u16).into(),
+            fee: Amount([0u8; 32]),
+        };
+        let payload = serde_wormhole::to_vec(&tx).map(Binary::from).unwrap();
+        txs.push(tx);
+        observations.push(Observation {
+            key,
+            nonce: i as u32,
+            tx_hash: vec![(i + 4) as u8; 20].into(),
+            payload,
+        });
+    }
+
+    (txs, observations)
+}
+
+#[test]
+fn batch() {
+    const COUNT: usize = 5;
+
+    let (txs, observations) = set_up(COUNT);
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let index = wh.guardian_set_index();
+
+    let obs = to_binary(&observations).unwrap();
+    let signatures = wh.sign(&obs);
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    for (i, s) in signatures.into_iter().enumerate() {
+        if i < quorum {
+            contract.submit_observations(obs.clone(), index, s).unwrap();
+
+            // Once there is a quorum the pending transfers are removed.
+            if i < quorum - 1 {
+                for o in &observations {
+                    let data = contract.query_pending_transfer(o.key.clone()).unwrap();
+                    assert_eq!(o, data[0].observation());
+
+                    // Make sure the transfer hasn't yet been committed.
+                    contract
+                        .query_transfer(o.key.clone())
+                        .expect_err("transfer committed without quorum");
+                }
+            } else {
+                for o in &observations {
+                    contract
+                        .query_pending_transfer(o.key.clone())
+                        .expect_err("found pending transfer for observation with quorum");
+                }
+            }
+        } else {
+            contract
+                .submit_observations(obs.clone(), index, s)
+                .expect_err("successfully submitted observation for committed transfer");
+        }
+    }
+
+    for (tx, o) in txs.into_iter().zip(observations) {
+        let expected = if let Message::Transfer {
+            amount,
+            token_address,
+            token_chain,
+            recipient_chain,
+            ..
+        } = tx
+        {
+            transfer::Data {
+                amount: Uint256::new(amount.0),
+                token_chain: token_chain.into(),
+                token_address: TokenAddress::new(token_address.0),
+                recipient_chain: recipient_chain.into(),
+            }
+        } else {
+            panic!("unexpected tokenbridge payload");
+        };
+
+        let emitter_chain = o.key.emitter_chain();
+        let actual = contract.query_transfer(o.key).unwrap();
+        assert_eq!(expected, actual);
+
+        let src = contract
+            .query_balance(account::Key::new(
+                emitter_chain,
+                expected.token_chain,
+                expected.token_address,
+            ))
+            .unwrap();
+
+        assert_eq!(expected.amount, *src);
+
+        let dst = contract
+            .query_balance(account::Key::new(
+                expected.recipient_chain,
+                expected.token_chain,
+                expected.token_address,
+            ))
+            .unwrap();
+
+        assert_eq!(expected.amount, *dst);
+    }
+}
+
+#[test]
+fn duplicates() {
+    const COUNT: usize = 5;
+
+    let (txs, observations) = set_up(COUNT);
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+
+    let obs = to_binary(&observations).unwrap();
+    let signatures = wh.sign(&obs);
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    for (i, s) in signatures.iter().take(quorum).cloned().enumerate() {
+        contract
+            .submit_observations(obs.clone(), index, s.clone())
+            .unwrap();
+        let err = contract
+            .submit_observations(obs.clone(), index, s)
+            .expect_err("successfully submitted duplicate observations");
+        if i < quorum - 1 {
+            // Sadly we can't match on the exact error type in an integration test because the
+            // test frameworks converts it into a string before it reaches this point.
+            assert!(format!("{err:#}").contains("duplicate signatures"));
+        }
+    }
+
+    for (tx, o) in txs.into_iter().zip(observations) {
+        let expected = if let Message::Transfer {
+            amount,
+            token_address,
+            token_chain,
+            recipient_chain,
+            ..
+        } = tx
+        {
+            transfer::Data {
+                amount: Uint256::new(amount.0),
+                token_chain: token_chain.into(),
+                token_address: TokenAddress::new(token_address.0),
+                recipient_chain: recipient_chain.into(),
+            }
+        } else {
+            panic!("unexpected tokenbridge payload");
+        };
+
+        let emitter_chain = o.key.emitter_chain();
+        let actual = contract.query_transfer(o.key).unwrap();
+        assert_eq!(expected, actual);
+
+        let src = contract
+            .query_balance(account::Key::new(
+                emitter_chain,
+                expected.token_chain,
+                expected.token_address,
+            ))
+            .unwrap();
+
+        assert_eq!(expected.amount, *src);
+
+        let dst = contract
+            .query_balance(account::Key::new(
+                expected.recipient_chain,
+                expected.token_chain,
+                expected.token_address,
+            ))
+            .unwrap();
+
+        assert_eq!(expected.amount, *dst);
+    }
+
+    for s in signatures {
+        contract
+            .submit_observations(obs.clone(), index, s)
+            .expect_err("successfully submitted observation for committed transfer");
+    }
+}
+
+fn transfer_tokens(
+    wh: &fake::WormholeKeeper,
+    contract: &mut Contract,
+    key: transfer::Key,
+    msg: Message,
+    index: u32,
+    quorum: usize,
+) -> anyhow::Result<(Observation, Vec<AppResponse>)> {
+    let payload = serde_wormhole::to_vec(&msg).map(Binary::from).unwrap();
+    let o = Observation {
+        key,
+        nonce: 0x4343b191,
+        tx_hash: vec![0xd8u8; 20].into(),
+        payload,
+    };
+
+    let obs = to_binary(&vec![o.clone()]).unwrap();
+    let signatures = wh.sign(&obs);
+
+    let responses = signatures
+        .into_iter()
+        .take(quorum)
+        .map(|s| contract.submit_observations(obs.clone(), index, s))
+        .collect::<anyhow::Result<Vec<_>>>()?;
+
+    Ok((o, responses))
+}
+
+#[test]
+fn round_trip() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2u16.into();
+    let recipient_chain = 14u16.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key.clone(), msg, index, quorum).unwrap();
+
+    let expected = transfer::Data {
+        amount: Uint256::new(amount.0),
+        token_chain: token_chain.into(),
+        token_address: TokenAddress::new(token_address.0),
+        recipient_chain: recipient_chain.into(),
+    };
+    let actual = contract.query_transfer(key).unwrap();
+    assert_eq!(expected, actual);
+
+    // Now send the tokens back.
+    let key = transfer::Key::new(
+        recipient_chain.into(),
+        [u16::from(recipient_chain) as u8; 32].into(),
+        91156748,
+    );
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xe4u8; 32]),
+        recipient_chain: emitter_chain.into(),
+        fee: Amount([0u8; 32]),
+    };
+    transfer_tokens(&wh, &mut contract, key.clone(), msg, index, quorum).unwrap();
+
+    let expected = transfer::Data {
+        amount: Uint256::new(amount.0),
+        token_chain: token_chain.into(),
+        token_address: TokenAddress::new(token_address.0),
+        recipient_chain: emitter_chain,
+    };
+    let actual = contract.query_transfer(key).unwrap();
+    assert_eq!(expected, actual);
+
+    // Now both balances should be zero.
+    let src = contract
+        .query_balance(account::Key::new(
+            emitter_chain,
+            token_chain.into(),
+            expected.token_address,
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::zero(), *src);
+
+    let dst = contract
+        .query_balance(account::Key::new(
+            recipient_chain.into(),
+            token_chain.into(),
+            expected.token_address,
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::zero(), *dst);
+}
+
+#[test]
+fn missing_guardian_set() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 14.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key, msg, index + 1, quorum)
+        .expect_err("successfully submitted observations with invalid guardian set");
+}
+
+#[test]
+fn expired_guardian_set() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let mut block = contract.app().block_info();
+
+    let quorum = wh.calculate_quorum(index, block.height).unwrap() as usize;
+
+    let emitter_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 14.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    // Mark the guardian set expired.
+    wh.set_expiration(block.height);
+    block.height += 1;
+    contract.app_mut().set_block(block);
+
+    transfer_tokens(&wh, &mut contract, key, msg, index, quorum)
+        .expect_err("successfully submitted observations with expired guardian set");
+}
+
+#[test]
+fn no_quorum() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 14.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(
+        &wh,
+        &mut contract,
+        key.clone(),
+        msg.clone(),
+        index,
+        quorum - 1,
+    )
+    .unwrap();
+
+    let data = contract.query_pending_transfer(key.clone()).unwrap();
+    assert_eq!(key, data[0].observation().key);
+
+    let actual = serde_wormhole::from_slice(&data[0].observation().payload).unwrap();
+    assert_eq!(msg, actual);
+
+    // Make sure the transfer hasn't yet been committed.
+    contract
+        .query_transfer(key)
+        .expect_err("transfer committed without quorum");
+}
+
+#[test]
+fn missing_wrapped_account() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 14;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 2.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key, msg, index, quorum)
+        .expect_err("successfully burned wrapped tokens without a wrapped amount");
+}
+
+#[test]
+fn missing_native_account() {
+    let emitter_chain = 14;
+    let recipient_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = [0xccu8; 32];
+    let token_chain = 2;
+
+    // We need to set up a fake wrapped account so that the initial check succeeds.
+    let (wh, mut contract) = proper_instantiate(
+        vec![Account {
+            key: account::Key::new(emitter_chain, token_chain, token_address.into()),
+            balance: Balance::new(Uint256::new(amount.0)),
+        }],
+        Vec::new(),
+        Vec::new(),
+    );
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address: Address(token_address),
+        token_chain: token_chain.into(),
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain: recipient_chain.into(),
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key, msg, index, quorum)
+        .expect_err("successfully unlocked native tokens without a native account");
+}
+
+#[test]
+fn repeated() {
+    const ITERATIONS: usize = 10;
+
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 2;
+    let recipient_chain = 14;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = [0xccu8; 32];
+    let token_chain = 2;
+
+    let msg = Message::Transfer {
+        amount,
+        token_address: Address(token_address),
+        token_chain: token_chain.into(),
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain: recipient_chain.into(),
+        fee: Amount([0u8; 32]),
+    };
+
+    for i in 0..ITERATIONS {
+        let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), i as u64);
+        transfer_tokens(&wh, &mut contract, key.clone(), msg.clone(), index, quorum).unwrap();
+    }
+
+    let expected = Uint256::new(amount.0) * Uint256::from(ITERATIONS as u128);
+    let src = contract
+        .query_balance(account::Key::new(
+            emitter_chain,
+            token_chain,
+            token_address.into(),
+        ))
+        .unwrap();
+
+    assert_eq!(expected, *src);
+
+    let dst = contract
+        .query_balance(account::Key::new(
+            recipient_chain,
+            token_chain,
+            token_address.into(),
+        ))
+        .unwrap();
+
+    assert_eq!(expected, *dst);
+}
+
+#[test]
+fn wrapped_to_wrapped() {
+    let emitter_chain = 14;
+    let recipient_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = [0xccu8; 32];
+    let token_chain = 5;
+
+    // We need an initial fake wrapped account.
+    let (wh, mut contract) = proper_instantiate(
+        vec![Account {
+            key: account::Key::new(emitter_chain, token_chain, token_address.into()),
+            balance: Balance::new(Uint256::new(amount.0)),
+        }],
+        Vec::new(),
+        Vec::new(),
+    );
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address: Address(token_address),
+        token_chain: token_chain.into(),
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain: recipient_chain.into(),
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key.clone(), msg, index, quorum).unwrap();
+
+    let expected = transfer::Data {
+        amount: Uint256::new(amount.0),
+        token_chain,
+        token_address: TokenAddress::new(token_address),
+        recipient_chain,
+    };
+    let actual = contract.query_transfer(key).unwrap();
+    assert_eq!(expected, actual);
+
+    let src = contract
+        .query_balance(account::Key::new(
+            emitter_chain,
+            token_chain,
+            token_address.into(),
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::zero(), *src);
+
+    let dst = contract
+        .query_balance(account::Key::new(
+            recipient_chain,
+            token_chain,
+            token_address.into(),
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::new(amount.0), *dst);
+}
+
+#[test]
+fn unknown_emitter() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 14;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 2.into();
+
+    let key = transfer::Key::new(emitter_chain, [0xde; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key, msg, index, quorum)
+        .expect_err("successfully transfered tokens with an invalid emitter address");
+}
+
+#[test]
+fn different_observations() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    // First submit some observations without enough signatures for quorum.
+    let emitter_chain = 2;
+    let fake_amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let fake_recipient_chain = 14.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let fake = Message::Transfer {
+        amount: fake_amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain: fake_recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key.clone(), fake, index, quorum - 1).unwrap();
+
+    // Make sure there is no committed transfer yet.
+    contract
+        .query_transfer(key.clone())
+        .expect_err("committed transfer without quorum");
+
+    // Now change the details of the transfer and resubmit with the same key.
+    let real_amount = Amount(Uint256::from(200u128).to_be_bytes());
+    let real_recipient_chain = 9.into();
+    let real = Message::Transfer {
+        amount: real_amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain: real_recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    transfer_tokens(&wh, &mut contract, key.clone(), real, index, quorum).unwrap();
+
+    contract
+        .query_pending_transfer(key.clone())
+        .expect_err("found pending transfer for observation with quorum");
+
+    let expected = transfer::Data {
+        amount: Uint256::new(real_amount.0),
+        token_chain: token_chain.into(),
+        token_address: TokenAddress::new(token_address.0),
+        recipient_chain: real_recipient_chain.into(),
+    };
+    let actual = contract.query_transfer(key).unwrap();
+    assert_eq!(expected, actual);
+
+    let src = contract
+        .query_balance(account::Key::new(
+            emitter_chain,
+            token_chain.into(),
+            expected.token_address,
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::new(real_amount.0), *src);
+
+    let dst = contract
+        .query_balance(account::Key::new(
+            real_recipient_chain.into(),
+            token_chain.into(),
+            expected.token_address,
+        ))
+        .unwrap();
+
+    assert_eq!(Uint256::new(real_amount.0), *dst);
+}
+
+#[test]
+fn emit_event_with_quorum() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+    let index = wh.guardian_set_index();
+    let quorum = wh
+        .calculate_quorum(index, contract.app().block_info().height)
+        .unwrap() as usize;
+
+    let emitter_chain = 2;
+    let amount = Amount(Uint256::from(500u128).to_be_bytes());
+    let token_address = Address([0xccu8; 32]);
+    let token_chain = 2.into();
+    let recipient_chain = 14.into();
+
+    let key = transfer::Key::new(emitter_chain, [emitter_chain as u8; 32].into(), 37);
+    let msg = Message::Transfer {
+        amount,
+        token_address,
+        token_chain,
+        recipient: Address([0xb9u8; 32]),
+        recipient_chain,
+        fee: Amount([0u8; 32]),
+    };
+
+    let (o, responses) = transfer_tokens(&wh, &mut contract, key, msg, index, quorum).unwrap();
+
+    let expected = Event::new("wasm-Transfer")
+        .add_attribute("emitter_chain", o.key.emitter_chain().to_string())
+        .add_attribute("emitter_address", o.key.emitter_address().to_string())
+        .add_attribute("sequence", o.key.sequence().to_string())
+        .add_attribute("nonce", o.nonce.to_string())
+        .add_attribute("tx_hash", o.tx_hash.to_base64())
+        .add_attribute("payload", o.payload.to_base64());
+
+    assert_eq!(responses.len(), quorum);
+    for (i, r) in responses.into_iter().enumerate() {
+        if i < quorum - 1 {
+            assert!(!r.has_event(&expected));
+        } else {
+            r.assert_event(&expected);
+        }
+    }
+}
diff --git a/cosmwasm/contracts/wormchain-accounting/tests/upgrade_contract.rs b/cosmwasm/contracts/wormchain-accounting/tests/upgrade_contract.rs
new file mode 100644
index 000000000..36f7c551e
--- /dev/null
+++ b/cosmwasm/contracts/wormchain-accounting/tests/upgrade_contract.rs
@@ -0,0 +1,60 @@
+mod helpers;
+
+use cosmwasm_schema::cw_serde;
+use cosmwasm_std::{
+    to_binary, Binary, Deps, DepsMut, Empty, Env, Event, MessageInfo, Response, StdResult,
+};
+use cw_multi_test::ContractWrapper;
+use helpers::*;
+use wormchain_accounting::msg::Upgrade;
+use wormhole_bindings::WormholeQuery;
+
+pub fn instantiate(
+    _deps: DepsMut,
+    _env: Env,
+    _info: MessageInfo,
+    _msg: Empty,
+) -> StdResult<Response> {
+    Ok(Response::default())
+}
+
+pub fn migrate(_deps: DepsMut<WormholeQuery>, _env: Env, _msg: Empty) -> StdResult<Response> {
+    Ok(Response::default().add_event(Event::new("migrate-success")))
+}
+
+pub fn execute(_deps: DepsMut, _env: Env, _info: MessageInfo, _msg: Empty) -> StdResult<Response> {
+    Ok(Response::default())
+}
+
+#[cw_serde]
+struct NewContract;
+
+pub fn query(_deps: Deps, _env: Env, _msg: Empty) -> StdResult<Binary> {
+    to_binary(&NewContract)
+}
+
+#[test]
+fn upgrade() {
+    let (wh, mut contract) = proper_instantiate(Vec::new(), Vec::new(), Vec::new());
+
+    let new_code_id = contract.app_mut().store_code(Box::new(
+        ContractWrapper::new_with_empty(execute, instantiate, query).with_migrate_empty(migrate),
+    ));
+
+    let mut new_addr = [0u8; 32];
+    new_addr[24..].copy_from_slice(&new_code_id.to_be_bytes());
+
+    let upgrade = to_binary(&Upgrade { new_addr }).unwrap();
+    let signatures = wh.sign(&upgrade);
+
+    let resp = contract
+        .upgrade_contract(upgrade, wh.guardian_set_index(), signatures)
+        .unwrap();
+    resp.assert_event(&Event::new("wasm-migrate-success"));
+
+    contract
+        .app()
+        .wrap()
+        .query_wasm_smart::<NewContract>(contract.addr(), &Empty {})
+        .unwrap();
+}
diff --git a/cosmwasm/packages/accounting/src/state/addr.rs b/cosmwasm/packages/accounting/src/state/addr.rs
index c64843691..85c657182 100644
--- a/cosmwasm/packages/accounting/src/state/addr.rs
+++ b/cosmwasm/packages/accounting/src/state/addr.rs
@@ -125,7 +125,7 @@ impl<'de> de::Visitor<'de> for Base64Visitor {
         E: de::Error,
     {
         base64::decode(v)
-            .map_err(|_| E::invalid_value(de::Unexpected::Str(v), &self))
+            .map_err(E::custom)
             .and_then(|b| {
                 b.try_into()
                     .map_err(|b: Vec<u8>| E::invalid_length(b.len(), &self))
diff --git a/cosmwasm/packages/wormhole-bindings/Cargo.toml b/cosmwasm/packages/wormhole-bindings/Cargo.toml
index 0fe0256b9..dad2eb461 100644
--- a/cosmwasm/packages/wormhole-bindings/Cargo.toml
+++ b/cosmwasm/packages/wormhole-bindings/Cargo.toml
@@ -4,9 +4,14 @@ version = "0.1.0"
 authors = ["Wormhole Project Contributors"]
 edition = "2021"
 
+[features]
+fake = ["dep:cw-multi-test", "dep:k256"]
+
 [dependencies]
 anyhow = "1"
 cosmwasm-schema = "1"
 cosmwasm-std = "1"
 schemars = "0.8.8"
 serde = { version = "1.0.137", default-features = false, features = ["derive"] }
+cw-multi-test = { version = "0.13.2", optional = true }
+k256 = { version = "0.9.4", optional = true }
diff --git a/cosmwasm/packages/wormhole-bindings/src/fake.rs b/cosmwasm/packages/wormhole-bindings/src/fake.rs
new file mode 100644
index 000000000..675f81fa3
--- /dev/null
+++ b/cosmwasm/packages/wormhole-bindings/src/fake.rs
@@ -0,0 +1,234 @@
+use std::{cell::RefCell, collections::BTreeSet, fmt::Debug, rc::Rc};
+
+use anyhow::{anyhow, bail, ensure};
+use cosmwasm_std::{to_binary, Addr, Api, Binary, BlockInfo, CustomQuery, Empty, Querier, Storage};
+use cw_multi_test::{AppResponse, CosmosRouter, Module};
+use k256::ecdsa::{
+    self,
+    signature::{Signature as SigT, Signer, Verifier},
+    SigningKey,
+};
+use schemars::JsonSchema;
+use serde::de::DeserializeOwned;
+
+use crate::{Signature, WormholeQuery};
+
+#[derive(Debug)]
+struct Inner {
+    index: u32,
+    expiration: u64,
+    guardians: [SigningKey; 7],
+}
+
+#[derive(Clone, Debug)]
+pub struct WormholeKeeper(Rc<RefCell<Inner>>);
+
+impl WormholeKeeper {
+    pub fn new() -> WormholeKeeper {
+        let guardians = [
+            SigningKey::from_bytes(&[
+                93, 217, 189, 224, 168, 81, 157, 93, 238, 38, 143, 8, 182, 94, 69, 77, 232, 199,
+                238, 206, 15, 135, 221, 58, 43, 74, 0, 129, 54, 198, 62, 226,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                150, 48, 135, 223, 194, 186, 243, 139, 177, 8, 126, 32, 210, 57, 42, 28, 29, 102,
+                196, 201, 106, 136, 40, 149, 218, 150, 240, 213, 192, 128, 161, 245,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                121, 51, 199, 93, 237, 227, 62, 220, 128, 129, 195, 4, 190, 163, 254, 12, 212, 224,
+                188, 76, 141, 242, 229, 121, 192, 5, 161, 176, 136, 99, 83, 53,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                224, 180, 4, 114, 215, 161, 184, 12, 218, 96, 20, 141, 154, 242, 46, 230, 167, 165,
+                54, 141, 108, 64, 146, 27, 193, 89, 251, 139, 234, 132, 124, 30,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                69, 1, 17, 179, 19, 47, 56, 47, 255, 219, 143, 89, 115, 54, 242, 209, 163, 131,
+                225, 30, 59, 195, 217, 141, 167, 253, 6, 95, 252, 52, 7, 223,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                181, 3, 165, 125, 15, 200, 155, 56, 157, 204, 105, 221, 203, 149, 215, 175, 220,
+                228, 200, 37, 169, 39, 68, 127, 132, 196, 203, 232, 155, 55, 67, 253,
+            ])
+            .unwrap(),
+            SigningKey::from_bytes(&[
+                72, 81, 175, 107, 23, 108, 178, 66, 32, 53, 14, 117, 233, 33, 114, 102, 68, 89, 83,
+                201, 129, 57, 56, 130, 214, 212, 172, 16, 23, 22, 234, 160,
+            ])
+            .unwrap(),
+        ];
+        WormholeKeeper(Rc::new(RefCell::new(Inner {
+            index: 0,
+            expiration: 0,
+            guardians,
+        })))
+    }
+
+    pub fn sign(&self, msg: &[u8]) -> Vec<Signature> {
+        self.0
+            .borrow()
+            .guardians
+            .iter()
+            .map(|g| {
+                <SigningKey as Signer<ecdsa::Signature>>::sign(g, msg)
+                    .as_bytes()
+                    .to_vec()
+                    .into()
+            })
+            .enumerate()
+            .map(|(idx, sig)| Signature {
+                index: idx as u8,
+                signature: sig,
+            })
+            .collect()
+    }
+
+    pub fn verify_quorum(
+        &self,
+        data: &[u8],
+        index: u32,
+        signatures: &[Signature],
+        block_time: u64,
+    ) -> anyhow::Result<Empty> {
+        let mut signers = BTreeSet::new();
+        for s in signatures {
+            self.verify_signature(data, index, s, block_time)?;
+            signers.insert(s.index);
+        }
+
+        if signers.len() as u32 >= self.calculate_quorum(index, block_time)? {
+            Ok(Empty {})
+        } else {
+            Err(anyhow!("no quorum"))
+        }
+    }
+
+    pub fn verify_signature(
+        &self,
+        data: &[u8],
+        index: u32,
+        sig: &Signature,
+        block_time: u64,
+    ) -> anyhow::Result<Empty> {
+        let this = self.0.borrow();
+        ensure!(this.index == index, "invalid guardian set");
+        ensure!(
+            this.expiration == 0 || block_time < this.expiration,
+            "guardian set expired"
+        );
+
+        if let Some(g) = this.guardians.get(sig.index as usize) {
+            let s = ecdsa::Signature::try_from(&*sig.signature).unwrap();
+            g.verifying_key()
+                .verify(data, &s)
+                .map(|()| Empty {})
+                .map_err(From::from)
+        } else {
+            Err(anyhow!("invalid guardian index"))
+        }
+    }
+
+    pub fn calculate_quorum(&self, index: u32, block_time: u64) -> anyhow::Result<u32> {
+        let this = self.0.borrow();
+        ensure!(this.index == index, "invalid guardian set");
+        ensure!(
+            this.expiration == 0 || block_time < this.expiration,
+            "guardian set expired"
+        );
+
+        Ok(((this.guardians.len() as u32 * 10 / 3) * 2) / 10 + 1)
+    }
+
+    pub fn query(&self, request: WormholeQuery, block: &BlockInfo) -> anyhow::Result<Binary> {
+        match request {
+            WormholeQuery::VerifyQuorum {
+                data,
+                guardian_set_index,
+                signatures,
+            } => self
+                .verify_quorum(&data, guardian_set_index, &signatures, block.height)
+                .and_then(|e| to_binary(&e).map_err(From::from)),
+            WormholeQuery::VerifySignature {
+                data,
+                guardian_set_index,
+                signature,
+            } => self
+                .verify_signature(&data, guardian_set_index, &signature, block.height)
+                .and_then(|e| to_binary(&e).map_err(From::from)),
+            WormholeQuery::CalculateQuorum { guardian_set_index } => self
+                .calculate_quorum(guardian_set_index, block.height)
+                .and_then(|q| to_binary(&q).map_err(From::from)),
+        }
+    }
+
+    pub fn expiration(&self) -> u64 {
+        self.0.borrow().expiration
+    }
+
+    pub fn set_expiration(&self, expiration: u64) {
+        self.0.borrow_mut().expiration = expiration;
+    }
+
+    pub fn guardian_set_index(&self) -> u32 {
+        self.0.borrow().index
+    }
+
+    pub fn set_index(&self, index: u32) {
+        self.0.borrow_mut().index = index;
+    }
+}
+
+impl Default for WormholeKeeper {
+    fn default() -> Self {
+        Self::new()
+    }
+}
+
+impl Module for WormholeKeeper {
+    type ExecT = Empty;
+    type QueryT = WormholeQuery;
+    type SudoT = Empty;
+
+    fn execute<ExecC, QueryC>(
+        &self,
+        _api: &dyn Api,
+        _storage: &mut dyn Storage,
+        _router: &dyn CosmosRouter<ExecC = ExecC, QueryC = QueryC>,
+        _block: &BlockInfo,
+        sender: Addr,
+        msg: Self::ExecT,
+    ) -> anyhow::Result<AppResponse>
+    where
+        ExecC: Debug + Clone + PartialEq + JsonSchema + DeserializeOwned + 'static,
+        QueryC: CustomQuery + DeserializeOwned + 'static,
+    {
+        bail!("Unexpected exec msg {msg:?} from {sender}")
+    }
+
+    fn sudo<ExecC, QueryC>(
+        &self,
+        _api: &dyn Api,
+        _storage: &mut dyn Storage,
+        _router: &dyn CosmosRouter<ExecC = ExecC, QueryC = QueryC>,
+        _block: &BlockInfo,
+        msg: Self::SudoT,
+    ) -> anyhow::Result<AppResponse> {
+        bail!("Unexpected sudo msg {msg:?}")
+    }
+
+    fn query(
+        &self,
+        _api: &dyn Api,
+        _storage: &dyn Storage,
+        _querier: &dyn Querier,
+        block: &BlockInfo,
+        request: Self::QueryT,
+    ) -> anyhow::Result<Binary> {
+        self.query(request, block)
+    }
+}
diff --git a/cosmwasm/packages/wormhole-bindings/src/lib.rs b/cosmwasm/packages/wormhole-bindings/src/lib.rs
index 68ef083c6..52cf7af7e 100644
--- a/cosmwasm/packages/wormhole-bindings/src/lib.rs
+++ b/cosmwasm/packages/wormhole-bindings/src/lib.rs
@@ -1,3 +1,5 @@
+#[cfg(feature = "fake")]
+pub mod fake;
 mod query;
 
 pub use query::*;
diff --git a/cosmwasm/tools/deploy.js b/cosmwasm/tools/deploy.js
index 111edd1ac..5a57d7839 100644
--- a/cosmwasm/tools/deploy.js
+++ b/cosmwasm/tools/deploy.js
@@ -22,6 +22,7 @@ const artifacts = [
   "mock_bridge_integration_2.wasm",
   "shutdown_core_bridge_cosmwasm.wasm",
   "shutdown_token_bridge_cosmwasm.wasm",
+  "wormchain_accounting.wasm",
 ];
 
 /* Check that the artifact folder contains all the wasm files we expect and nothing else */