diff --git a/explorer/package-lock.json b/explorer/package-lock.json
index 0f07aa9ec0..e2cb72e86b 100644
--- a/explorer/package-lock.json
+++ b/explorer/package-lock.json
@@ -2822,12 +2822,13 @@
       }
     },
     "@solana/web3.js": {
-      "version": "1.11.0",
-      "resolved": "https://registry.npmjs.org/@solana/web3.js/-/web3.js-1.11.0.tgz",
-      "integrity": "sha512-kmngWxntzp0HNhWInd7/3g2uqxdOrahvaHOyjilcRe+WCiC777gERz3+eIAbxIYx2zAZPjy02MZzLgoRHccZoQ==",
+      "version": "1.12.0",
+      "resolved": "https://registry.npmjs.org/@solana/web3.js/-/web3.js-1.12.0.tgz",
+      "integrity": "sha512-0jb7EDeocFKQOumScE9Rj4Lry5oVpBap4oGPG2yE3n7Dz4nhFUoEjDbhwEliN75M/4wJV69aPHIm2ZPeJ9rUsQ==",
       "requires": {
         "@babel/runtime": "^7.12.5",
         "bn.js": "^5.0.0",
+        "borsh": "^0.4.0",
         "bs58": "^4.0.1",
         "buffer": "6.0.1",
         "buffer-layout": "^1.2.0",
@@ -5024,6 +5025,27 @@
       "resolved": "https://registry.npmjs.org/bootstrap/-/bootstrap-4.6.0.tgz",
       "integrity": "sha512-Io55IuQY3kydzHtbGvQya3H+KorS/M9rSNyfCGCg9WZ4pyT/lCxIlpJgG1GXW/PswzC84Tr2fBYi+7+jFVQQBw=="
     },
+    "borsh": {
+      "version": "0.4.0",
+      "resolved": "https://registry.npmjs.org/borsh/-/borsh-0.4.0.tgz",
+      "integrity": "sha512-aX6qtLya3K0AkT66CmYWCCDr77qsE9arV05OmdFpmat9qu8Pg9J5tBUPDztAW5fNh/d/MyVG/OYziP52Ndzx1g==",
+      "requires": {
+        "@types/bn.js": "^4.11.5",
+        "bn.js": "^5.0.0",
+        "bs58": "^4.0.0",
+        "text-encoding-utf-8": "^1.0.2"
+      },
+      "dependencies": {
+        "@types/bn.js": {
+          "version": "4.11.6",
+          "resolved": "https://registry.npmjs.org/@types/bn.js/-/bn.js-4.11.6.tgz",
+          "integrity": "sha512-pqr857jrp2kPuO9uRjZ3PwnJTjoQy+fcdxvBTvHm6dkmEL9q+hDD/2j/0ELOBPtPnS8LjCX0gI9nbl8lVkadpg==",
+          "requires": {
+            "@types/node": "*"
+          }
+        }
+      }
+    },
     "brace-expansion": {
       "version": "1.1.11",
       "resolved": "https://registry.npmjs.org/brace-expansion/-/brace-expansion-1.1.11.tgz",
@@ -18325,6 +18347,11 @@
         "minimatch": "^3.0.4"
       }
     },
+    "text-encoding-utf-8": {
+      "version": "1.0.2",
+      "resolved": "https://registry.npmjs.org/text-encoding-utf-8/-/text-encoding-utf-8-1.0.2.tgz",
+      "integrity": "sha512-8bw4MY9WjdsD2aMtO0OzOCY3pXGYNx2d2FfHRVUKkiCPDWjKuOlhLVASS+pD7VkLTVjW268LYJHwsnPFlBpbAg=="
+    },
     "text-table": {
       "version": "0.2.0",
       "resolved": "https://registry.npmjs.org/text-table/-/text-table-0.2.0.tgz",
diff --git a/explorer/package.json b/explorer/package.json
index 86182ea327..19ccb72e23 100644
--- a/explorer/package.json
+++ b/explorer/package.json
@@ -9,7 +9,7 @@
     "@react-hook/debounce": "^3.0.0",
     "@sentry/react": "^6.4.1",
     "@solana/spl-token-registry": "^0.2.71",
-    "@solana/web3.js": "^1.11.0",
+    "@solana/web3.js": "^1.12.0",
     "@testing-library/jest-dom": "^5.12.0",
     "@testing-library/react": "^11.2.6",
     "@testing-library/user-event": "^13.1.9",