diff --git a/packages/core/package.json b/packages/core/package.json
index 3c0b35e7d7..f60245441d 100644
--- a/packages/core/package.json
+++ b/packages/core/package.json
@@ -6,7 +6,7 @@
     "@gnosis.pm/safe-contracts": "^1.3.0",
     "@gnosis.pm/zodiac": "3.2.0",
     "@maticnetwork/fx-portal": "^1.0.4",
-    "@openzeppelin/contracts": "4.9.6",
+    "@openzeppelin/contracts": "5.0.2",
     "@uma/common": "^2.35.0",
     "@uma/merkle-distributor": "^1.3.38",
     "@uniswap/lib": "4.0.1-alpha",
diff --git a/packages/financial-templates-lib/package.json b/packages/financial-templates-lib/package.json
index 251bd5f4fc..ff964ca846 100644
--- a/packages/financial-templates-lib/package.json
+++ b/packages/financial-templates-lib/package.json
@@ -29,7 +29,7 @@
     "winston-transport": "^4.3.0"
   },
   "devDependencies": {
-    "@openzeppelin/contracts": "4.9.6",
+    "@openzeppelin/contracts": "5.0.2",
     "@tsconfig/node14": "^1.0.0",
     "@types/bn.js": "^5.1.0",
     "@types/sinon": "^10.0.0",
diff --git a/yarn.lock b/yarn.lock
index 9d6fc23f35..7784cd1d24 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3635,44 +3635,44 @@
   integrity sha512-hOUk6AyBFmqVrv7k5WAw/LpszxVbj9gGN4JRkIX52fdFAj1UA61KXmZDvqVEm+pOyec3+fIeZB02LYa/pWOArw==
 
 "@node-rs/crc32-android-arm64@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-android-arm64/-/crc32-android-arm64-1.9.1.tgz#f34e71cad679bc48a3ab8f8aa3542f8d361043e9"
-  integrity sha512-glJx4YstOlfF1jmtVBpmhwNsuE+qV0GnNUDQWQ134uGa+XWOpK/I/nSH+peGlmUEmy0YGeboe7h3M/ecBchcBA==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-android-arm64/-/crc32-android-arm64-1.10.0.tgz#8a926ad4ba8609c026b52d9b7dfa97e7591bfaa5"
+  integrity sha512-4vX1gB+rf3sYma/LLycmYsuFKolWdZX7tQOwLQ6PDwE7dAoN3mWAgS3RBw2G6PerGD9r90vSXWXPLJnF3OAhlw==
 
 "@node-rs/crc32-darwin-arm64@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-darwin-arm64/-/crc32-darwin-arm64-1.9.1.tgz#41b89028c7d65c2ea19dd2cb957ef2101474e2b8"
-  integrity sha512-IG5G4r5lZekKfw/lY4pzeSpZC3d4M46T6lOlG5084OGWUmMawAI1VgWFVWN5VsztdbN9vClDqixIH0txWY4KBg==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-darwin-arm64/-/crc32-darwin-arm64-1.10.0.tgz#fba0b3cf8f17c6f5768604d6d84decb44f332396"
+  integrity sha512-nAAdxZqxFBxqhI3ZMEGi7QDwg44N4laYO4iGIGhjLvsUDqJlYeIlqZ39Lh2gOK3D2uF/TaT4b0bU5EPHWnKMOQ==
 
 "@node-rs/crc32-darwin-x64@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-darwin-x64/-/crc32-darwin-x64-1.9.1.tgz#10fbdcb20924b5595a26dfec31732db20d93b259"
-  integrity sha512-Dr7Fqqw4FDb9Ui0dG/SO0ivnzkYqIdFxrn3ykz3cOfBMNpn2/m2nvxban0cgICbjl3M4lg0FOrCkoulym34uyg==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-darwin-x64/-/crc32-darwin-x64-1.10.0.tgz#3301fba789c59e75fcae1563c1bc635b57ee8325"
+  integrity sha512-0YhLJFDY7VAKlJ4+SdfZFY+u0X18tkuD3NCtPp1SYh1o9pWpFVBbTKWvdjjx/Ihqw0ozkfc3iewFJU7vlrDQJg==
 
 "@node-rs/crc32-linux-arm-gnueabihf@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-arm-gnueabihf/-/crc32-linux-arm-gnueabihf-1.9.1.tgz#c724a1709208233e95a284e5d79694c8df77b77e"
-  integrity sha512-XDXu30DH9sRpf6arLOi+0CGokKL/BEAZeWZ6/s8WVF7ft7EpyXKTAVQimrq0wKUuk/GisQRFgxrdfMYLDAIovg==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-arm-gnueabihf/-/crc32-linux-arm-gnueabihf-1.10.0.tgz#42c12d5aebd398409b28e84623e645002d13aaac"
+  integrity sha512-R3mN3uSZaslJtXW3NXdropB9tHCnOgbrvq7MtmCRpHi2Ie3E46Ohi8cW0HgHjihptafTf8NWsoYzErm39BTY0Q==
 
 "@node-rs/crc32-linux-arm64-gnu@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-arm64-gnu/-/crc32-linux-arm64-gnu-1.9.1.tgz#b557154d5264fc5ccec6a931a29177afd065d817"
-  integrity sha512-988Oq0/J0METxGui6DdDGeoMNVfoZoJ2krgXpY5/ZrLo9BL05gseWcEQvHH1AlzzRGAMgba+JBxCAX+XjiWsXA==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-arm64-gnu/-/crc32-linux-arm64-gnu-1.10.0.tgz#4a1849b882737c73541cf7141557ea12269161ee"
+  integrity sha512-2zZ2RQLVhjCWRWiLvz/CoP5BFld/zE/uD2Z9Nk+Y5zmJ11CD1RC3lqKG1M3MgEiQq9CnWJxwyy5kM2q4jDeXkg==
 
 "@node-rs/crc32-linux-x64-gnu@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-x64-gnu/-/crc32-linux-x64-gnu-1.9.1.tgz#ba2afccc2c5537e946f9aee80b3d57f0a792153d"
-  integrity sha512-D0tJRYa2Bg8EeD6iDe/SgQg81W2+75cGrl+0hK65qSCVLUHPVeIXVFzSheeL7XxMsKHLhv1rZpt+YmxP5GGHrw==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-x64-gnu/-/crc32-linux-x64-gnu-1.10.0.tgz#02c5bc402d783cce8d922240ebaba58c4ed07052"
+  integrity sha512-K/7aY/h8QngsLk0KsalQ3AlZ8ljXRisZgc20RcbB4UZkjl5AN6TeHQlVbx9U2MSBE5f6ViiZEr8c8CcID3W2Mg==
 
 "@node-rs/crc32-linux-x64-musl@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-x64-musl/-/crc32-linux-x64-musl-1.9.1.tgz#ddbd5745001f50a2da80272709860ce140bcdaba"
-  integrity sha512-WD0GHcQCNNMXwtb5NI7Y6WjXWBd8LEBUpo2XrMZstL8fEAWC0qGO7RsIaDclAAN2T/B7L74tud5yYVLm/c5XMw==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-linux-x64-musl/-/crc32-linux-x64-musl-1.10.0.tgz#07d0a1914652a3cf058e7cde5bc85f75a4106bbf"
+  integrity sha512-GyCSm+Dp96qUvqrsxKgfd3TFrE8v5sRUYiMgNKK6G1m7nQb/VXvab9UoBSKeFw131odt3LlIuBAuhMnbb4za5w==
 
 "@node-rs/crc32-win32-x64-msvc@^1.0.0":
-  version "1.9.1"
-  resolved "https://registry.yarnpkg.com/@node-rs/crc32-win32-x64-msvc/-/crc32-win32-x64-msvc-1.9.1.tgz#e44e392b5a66270efcb31772fa734c4cc2d4be42"
-  integrity sha512-HEg0560fHGUJJohxEHQYQeg/ITqaW9033PURG8M1S0rFmJpl2a7aeWouQRBDCfWJXSA2N1QIjRa3csMyULTKvg==
+  version "1.10.0"
+  resolved "https://registry.yarnpkg.com/@node-rs/crc32-win32-x64-msvc/-/crc32-win32-x64-msvc-1.10.0.tgz#9fe9a4f4020a330dc500421d7c8da805bab08fdd"
+  integrity sha512-6b99QpwNCQube1xleD+9IcF6foEWHYQYjuZrHAR5diuP/uqM7i+KCgMU9fbCFLs5zmssYHO3CQSZ8G+V0eC59g==
 
 "@node-rs/helper@^1.0.0":
   version "1.5.0"
@@ -4264,10 +4264,10 @@
   resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.1.0.tgz#baec89a7f5f73e3d8ea582a78f1980134b605375"
   integrity sha512-TihZitscnaHNcZgXGj9zDLDyCqjziytB4tMCwXq0XimfWkAjBYyk5/pOsDbbwcavhlc79HhpTEpQcrMnPVa1mw==
 
-"@openzeppelin/contracts@4.9.6":
-  version "4.9.6"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-4.9.6.tgz#2a880a24eb19b4f8b25adc2a5095f2aa27f39677"
-  integrity sha512-xSmezSupL+y9VkHZJGDoCBpmnB2ogM13ccaYDWqJTfS3dbuHkgjuwDFUmaFauBCboQMGB/S5UqUl2y54X99BmA==
+"@openzeppelin/contracts@5.0.2":
+  version "5.0.2"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts/-/contracts-5.0.2.tgz#b1d03075e49290d06570b2fd42154d76c2a5d210"
+  integrity sha512-ytPc6eLGcHHnapAZ9S+5qsdomhjo6QBHTDRRBFfTxXIpsicMhVPouPgmUPebZZZGX7vt9USA+Z+0M0dSVtSUEA==
 
 "@openzeppelin/contracts@^4.2.0", "@openzeppelin/contracts@^4.8.1":
   version "4.9.3"