diff --git a/Cargo.lock b/Cargo.lock
index 979bc43d..db69052a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -455,7 +455,7 @@ dependencies = [
  "log",
  "memchr",
  "once_cell",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "pin-utils",
  "slab",
  "wasm-bindgen-futures",
@@ -503,7 +503,7 @@ dependencies = [
  "futures-sink",
  "futures-util",
  "memchr",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
 ]
 
 [[package]]
@@ -548,7 +548,7 @@ dependencies = [
  "memchr",
  "mime",
  "percent-encoding",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "rustversion",
  "serde",
  "serde_json",
@@ -945,7 +945,7 @@ dependencies = [
  "bytes",
  "futures-core",
  "memchr",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "tokio",
  "tokio-util",
 ]
@@ -1794,7 +1794,7 @@ dependencies = [
  "futures-io",
  "memchr",
  "parking",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "waker-fn",
 ]
 
@@ -1876,7 +1876,7 @@ dependencies = [
  "futures-sink",
  "futures-task",
  "memchr",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "pin-utils",
  "slab",
 ]
@@ -2134,7 +2134,7 @@ checksum = "d5f38f16d184e36f2408a55281cd658ecbd3ca05cce6d6510a176eca393e26d1"
 dependencies = [
  "bytes",
  "http",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
 ]
 
 [[package]]
@@ -2177,7 +2177,7 @@ dependencies = [
  "httparse",
  "httpdate",
  "itoa",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "socket2 0.4.9",
  "tokio",
  "tower-service",
@@ -4082,9 +4082,9 @@ checksum = "257b64915a082f7811703966789728173279bdebb956b143dbcd23f6f970a777"
 
 [[package]]
 name = "pin-project-lite"
-version = "0.2.10"
+version = "0.2.12"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4c40d25201921e5ff0c862a505c6557ea88568a4e3ace775ab55e93f2f4f9d57"
+checksum = "12cc1b0bf1727a77a54b6654e7b5f1af8604923edc8b81885f8ec92f9e3f0a05"
 
 [[package]]
 name = "pin-utils"
@@ -4174,7 +4174,7 @@ dependencies = [
  "concurrent-queue",
  "libc",
  "log",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "windows-sys",
 ]
 
@@ -4361,7 +4361,7 @@ dependencies = [
  "async-std",
  "bytes",
  "futures-io",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "quinn-proto",
  "quinn-udp",
  "rustc-hash",
@@ -4540,7 +4540,7 @@ dependencies = [
  "futures-util",
  "itoa",
  "percent-encoding",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "ryu",
  "tokio",
  "tokio-util",
@@ -4649,7 +4649,7 @@ dependencies = [
  "native-tls",
  "once_cell",
  "percent-encoding",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "serde",
  "serde_json",
  "serde_urlencoded",
@@ -5669,20 +5669,19 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.29.1"
+version = "1.31.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "532826ff75199d5833b9d2c5fe410f29235e25704ee5f0ef599fb51c21f4a4da"
+checksum = "40de3a2ba249dcb097e01be5e67a5ff53cf250397715a071a81543e8a832a920"
 dependencies = [
- "autocfg",
  "backtrace",
  "bytes",
  "libc",
  "mio",
  "num_cpus",
  "parking_lot",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "signal-hook-registry",
- "socket2 0.4.9",
+ "socket2 0.5.3",
  "tokio-macros",
  "windows-sys",
 ]
@@ -5729,7 +5728,7 @@ dependencies = [
  "futures-core",
  "futures-io",
  "futures-sink",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "tokio",
  "tracing",
 ]
@@ -5743,7 +5742,7 @@ dependencies = [
  "futures-core",
  "futures-util",
  "pin-project",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "tokio",
  "tower-layer",
  "tower-service",
@@ -5767,7 +5766,7 @@ dependencies = [
  "mime",
  "mime_guess",
  "percent-encoding",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "tokio",
  "tokio-util",
  "tower-layer",
@@ -5795,7 +5794,7 @@ checksum = "8ce8c33a8d48bd45d624a6e523445fd21ec13d3653cd51f681abf67418f54eb8"
 dependencies = [
  "cfg-if 1.0.0",
  "log",
- "pin-project-lite 0.2.10",
+ "pin-project-lite 0.2.12",
  "tracing-attributes",
  "tracing-core",
 ]
diff --git a/examples/rendezvous/Cargo.toml b/examples/rendezvous/Cargo.toml
index ffbde3fd..e0cf39ba 100644
--- a/examples/rendezvous/Cargo.toml
+++ b/examples/rendezvous/Cargo.toml
@@ -12,4 +12,4 @@ env_logger = "0.10.0"
 futures = "0.3.28"
 libp2p = { path = "../../libp2p", features = ["async-std", "identify", "macros", "noise", "ping", "rendezvous", "tcp", "tokio", "yamux"] }
 log = "0.4"
-tokio = { version = "1.29", features = [ "rt-multi-thread", "macros", "time" ] }
+tokio = { version = "1.31", features = [ "rt-multi-thread", "macros", "time" ] }
diff --git a/interop-tests/Cargo.toml b/interop-tests/Cargo.toml
index 2d0d8ea2..d03c0403 100644
--- a/interop-tests/Cargo.toml
+++ b/interop-tests/Cargo.toml
@@ -28,7 +28,7 @@ redis = { version = "0.23.0", default-features = false, features = ["tokio-comp"
 rust-embed = "6.8"
 serde_json = "1"
 thirtyfour = "=0.32.0-rc.8" # https://github.com/stevepryde/thirtyfour/issues/169
-tokio = { version = "1.29.1", features = ["full"] }
+tokio = { version = "1.31.0", features = ["full"] }
 tower-http = { version = "0.4", features = ["cors", "fs", "trace"] }
 tracing = "0.1"
 tracing-subscriber = { version = "0.3", features = ["env-filter"] }
diff --git a/protocols/mdns/Cargo.toml b/protocols/mdns/Cargo.toml
index 830547e7..338e410b 100644
--- a/protocols/mdns/Cargo.toml
+++ b/protocols/mdns/Cargo.toml
@@ -22,7 +22,7 @@ log = "0.4.19"
 rand = "0.8.3"
 smallvec = "1.11.0"
 socket2 = { version = "0.5.3", features = ["all"] }
-tokio = { version = "1.29", default-features = false, features = ["net", "time"], optional = true}
+tokio = { version = "1.31", default-features = false, features = ["net", "time"], optional = true}
 trust-dns-proto = { version = "0.22.0", default-features = false, features = ["mdns", "tokio-runtime"] }
 void = "1.0.2"
 
@@ -37,7 +37,7 @@ libp2p-noise = { workspace = true }
 libp2p-swarm = { workspace = true, features = ["tokio", "async-std"] }
 libp2p-tcp = { workspace = true, features = ["tokio", "async-io"] }
 libp2p-yamux = { workspace = true }
-tokio = { version = "1.29", default-features = false, features = ["macros", "rt", "rt-multi-thread", "time"] }
+tokio = { version = "1.31", default-features = false, features = ["macros", "rt", "rt-multi-thread", "time"] }
 libp2p-swarm-test = { path = "../../swarm-test" }
 
 [[test]]
diff --git a/protocols/perf/Cargo.toml b/protocols/perf/Cargo.toml
index 5374c68a..758b8a52 100644
--- a/protocols/perf/Cargo.toml
+++ b/protocols/perf/Cargo.toml
@@ -30,7 +30,7 @@ log = "0.4"
 serde = { version = "1.0", features = ["derive"] }
 serde_json = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.29.1", features = ["full"] }
+tokio = { version = "1.31.0", features = ["full"] }
 void = "1"
 
 [dev-dependencies]
diff --git a/protocols/rendezvous/Cargo.toml b/protocols/rendezvous/Cargo.toml
index b24781dc..7929d3c4 100644
--- a/protocols/rendezvous/Cargo.toml
+++ b/protocols/rendezvous/Cargo.toml
@@ -37,7 +37,7 @@ libp2p-identify = { workspace = true }
 libp2p-yamux = { workspace = true }
 libp2p-tcp = { workspace = true, features = ["tokio"] }
 rand = "0.8"
-tokio = { version = "1.29", features = [ "rt-multi-thread", "time", "macros", "sync", "process", "fs", "net" ] }
+tokio = { version = "1.31", features = [ "rt-multi-thread", "time", "macros", "sync", "process", "fs", "net" ] }
 libp2p-swarm-test = { path = "../../swarm-test" }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
diff --git a/swarm/Cargo.toml b/swarm/Cargo.toml
index 189fa5c5..1290bfdd 100644
--- a/swarm/Cargo.toml
+++ b/swarm/Cargo.toml
@@ -30,7 +30,7 @@ multistream-select = { workspace = true }
 
 [target.'cfg(not(any(target_os = "emscripten", target_os = "wasi", target_os = "unknown")))'.dependencies]
 async-std = { version = "1.6.2", optional = true }
-tokio = { version = "1.29", features = ["rt"], optional = true }
+tokio = { version = "1.31", features = ["rt"], optional = true }
 
 [features]
 macros = ["dep:libp2p-swarm-derive"]
diff --git a/transports/pnet/Cargo.toml b/transports/pnet/Cargo.toml
index b74c4ef2..11c27266 100644
--- a/transports/pnet/Cargo.toml
+++ b/transports/pnet/Cargo.toml
@@ -27,7 +27,7 @@ libp2p-tcp = { workspace = true, features = ["tokio"] }
 libp2p-websocket = { workspace = true }
 libp2p-yamux = { workspace = true }
 quickcheck = { workspace = true }
-tokio = { version = "1.29.1", features = ["full"] }
+tokio = { version = "1.31.0", features = ["full"] }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's. 
 # More information: https://docs.rs/about/builds#cross-compiling
diff --git a/transports/quic/Cargo.toml b/transports/quic/Cargo.toml
index 9dba8c69..2500e5d7 100644
--- a/transports/quic/Cargo.toml
+++ b/transports/quic/Cargo.toml
@@ -23,7 +23,7 @@ quinn = { version = "0.10.1", default-features = false, features = ["tls-rustls"
 rand = "0.8.5"
 rustls = { version = "0.21.2", default-features = false }
 thiserror = "1.0.44"
-tokio = { version = "1.29.1", default-features = false, features = ["net", "rt", "time"], optional = true }
+tokio = { version = "1.31.0", default-features = false, features = ["net", "rt", "time"], optional = true }
 socket2 = "0.5.3"
 
 [features]
@@ -45,7 +45,7 @@ libp2p-noise = { workspace = true }
 libp2p-tcp = { workspace = true, features = ["async-io"] }
 libp2p-yamux = { workspace = true }
 quickcheck = "1"
-tokio = { version = "1.29.1", features = ["macros", "rt-multi-thread", "time"] }
+tokio = { version = "1.31.0", features = ["macros", "rt-multi-thread", "time"] }
 
 [[test]]
 name = "stream_compliance"
diff --git a/transports/tcp/Cargo.toml b/transports/tcp/Cargo.toml
index aaf40916..5103ee95 100644
--- a/transports/tcp/Cargo.toml
+++ b/transports/tcp/Cargo.toml
@@ -20,7 +20,7 @@ libp2p-core = { workspace = true }
 libp2p-identity = { workspace = true }
 log = "0.4.19"
 socket2 = { version = "0.5.3", features = ["all"] }
-tokio = { version = "1.29.1", default-features = false, features = ["net"], optional = true }
+tokio = { version = "1.31.0", default-features = false, features = ["net"], optional = true }
 
 [features]
 tokio = ["dep:tokio", "if-watch/tokio"]
@@ -28,7 +28,7 @@ async-io = ["dep:async-io", "if-watch/smol"]
 
 [dev-dependencies]
 async-std = { version = "1.6.5", features = ["attributes"] }
-tokio = { version = "1.29.1", default-features = false, features = ["full"] }
+tokio = { version = "1.31.0", default-features = false, features = ["full"] }
 env_logger = "0.10.0"
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
diff --git a/transports/tls/Cargo.toml b/transports/tls/Cargo.toml
index 5275a9c0..191a24d6 100644
--- a/transports/tls/Cargo.toml
+++ b/transports/tls/Cargo.toml
@@ -33,7 +33,7 @@ libp2p-core = { workspace = true }
 libp2p-identity = { workspace = true, features = ["ed25519", "rsa", "secp256k1", "ecdsa"] }
 libp2p-swarm = { workspace = true }
 libp2p-yamux = { workspace = true }
-tokio = { version = "1.29.1", features = ["full"] }
+tokio = { version = "1.31.0", features = ["full"] }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
 # More information: https://docs.rs/about/builds#cross-compiling
diff --git a/transports/uds/Cargo.toml b/transports/uds/Cargo.toml
index be011b5c..a01cc9c6 100644
--- a/transports/uds/Cargo.toml
+++ b/transports/uds/Cargo.toml
@@ -15,7 +15,7 @@ async-std = { version = "1.6.2", optional = true }
 libp2p-core = { workspace = true }
 log = "0.4.19"
 futures = "0.3.28"
-tokio = { version = "1.29", default-features = false, features = ["net"], optional = true }
+tokio = { version = "1.31", default-features = false, features = ["net"], optional = true }
 
 [dev-dependencies]
 tempfile = "3.7"
diff --git a/transports/webrtc/Cargo.toml b/transports/webrtc/Cargo.toml
index 70d5553e..05271951 100644
--- a/transports/webrtc/Cargo.toml
+++ b/transports/webrtc/Cargo.toml
@@ -32,7 +32,7 @@ serde = { version = "1.0", features = ["derive"] }
 stun = "0.4"
 thiserror = "1"
 tinytemplate = "1.2"
-tokio = { version = "1.29", features = ["net"], optional = true}
+tokio = { version = "1.31", features = ["net"], optional = true}
 tokio-util = { version = "0.7", features = ["compat"], optional = true }
 webrtc = { version = "0.8.0", optional = true }
 
@@ -46,7 +46,7 @@ env_logger = "0.10"
 hex-literal = "0.4"
 libp2p-swarm = { workspace = true, features = ["macros", "tokio"] }
 libp2p-ping = { workspace = true }
-tokio = { version = "1.29", features = ["full"] }
+tokio = { version = "1.31", features = ["full"] }
 unsigned-varint = { version = "0.7", features = ["asynchronous_codec"] }
 void = "1"
 quickcheck = "1.0.3"