diff --git a/go.mod b/go.mod
index ff463418a..e11e6bcf5 100644
--- a/go.mod
+++ b/go.mod
@@ -52,7 +52,7 @@ require (
 	github.com/rs/cors v1.9.0 // indirect
 	github.com/tyler-smith/go-bip39 v1.1.0 // indirect
 	github.com/zondax/hid v0.9.1 // indirect
-	golang.org/x/net v0.22.0 // indirect
+	golang.org/x/net v0.23.0 // indirect
 )
 
 require (
diff --git a/go.sum b/go.sum
index bb081e135..05e975d6e 100644
--- a/go.sum
+++ b/go.sum
@@ -1698,6 +1698,8 @@ golang.org/x/net v0.9.0/go.mod h1:d48xBJpPfHeWQsugry2m+kC02ZBRGRgulfHnEXEuWns=
 golang.org/x/net v0.10.0/go.mod h1:0qNGK6F8kojg2nk9dLZ2mShWaEBan6FAoqfSigmmuDg=
 golang.org/x/net v0.22.0 h1:9sGLhx7iRIHEiX0oAJ3MRZMUCElJgy7Br1nO+AMN3Tc=
 golang.org/x/net v0.22.0/go.mod h1:JKghWKKOSdJwpW2GEx0Ja7fmaKnMsbu+MWVZTokSYmg=
+golang.org/x/net v0.23.0 h1:7EYJ93RZ9vYSZAIb2x3lnuvqO5zneoD6IvWjuhfxjTs=
+golang.org/x/net v0.23.0/go.mod h1:JKghWKKOSdJwpW2GEx0Ja7fmaKnMsbu+MWVZTokSYmg=
 golang.org/x/oauth2 v0.0.0-20180821212333-d2e6202438be/go.mod h1:N/0e6XlmueqKjAGxoOufVs8QHGRruUQn6yWY3a++T0U=
 golang.org/x/oauth2 v0.0.0-20190226205417-e64efc72b421/go.mod h1:gOpvHmFTYa4IltrdGE7lF6nIHvwfUNPOp7c8zoXwtLw=
 golang.org/x/oauth2 v0.0.0-20190604053449-0f29369cfe45/go.mod h1:gOpvHmFTYa4IltrdGE7lF6nIHvwfUNPOp7c8zoXwtLw=
diff --git a/x/assets/types/genesis.go b/x/assets/types/genesis.go
index 415517439..7b675b44d 100644
--- a/x/assets/types/genesis.go
+++ b/x/assets/types/genesis.go
@@ -200,12 +200,13 @@ func (gs GenesisState) Validate() error {
 					assetID, info,
 				)
 			}
-			// check that the withdrawable amount is not greater than the total deposit amount.
-			// since withdrawable amount should be less than or equal to the amount deposited.
-			if info.WithdrawableAmount.GT(info.TotalDepositAmount) {
+			// check that the withdrawable amount and the deposited amount are equal.
+			// this is because this module's genesis only sets up free deposits.
+			// the delegation module bonds them, thereby altering the withdrawable amount.
+			if !info.WithdrawableAmount.Equal(info.TotalDepositAmount) {
 				return errorsmod.Wrapf(
 					ErrInvalidGenesisData,
-					"withdrawable amount exceeds total deposit amount for %s: %+v",
+					"withdrawable amount is not equal to total deposit amount for %s: %+v",
 					assetID, info,
 				)
 			}
diff --git a/x/assets/types/genesis_test.go b/x/assets/types/genesis_test.go
index eb7d3741a..12ab18cfa 100644
--- a/x/assets/types/genesis_test.go
+++ b/x/assets/types/genesis_test.go
@@ -67,7 +67,7 @@ func (suite *GenesisTestSuite) TestValidateGenesis() {
 				AssetID: assetID,
 				Info: types.StakerAssetInfo{
 					TotalDepositAmount:  math.NewInt(100),
-					WithdrawableAmount:  math.NewInt(0),
+					WithdrawableAmount:  math.NewInt(100),
 					WaitUnbondingAmount: math.NewInt(0),
 				},
 			},
@@ -493,9 +493,12 @@ func (suite *GenesisTestSuite) TestValidateGenesis() {
 			malleate: func(gs *types.GenesisState) {
 				gs.Deposits[0].Deposits[0].Info.TotalDepositAmount =
 					stakingInfo.AssetBasicInfo.TotalSupply.Add(math.NewInt(1))
+				gs.Deposits[0].Deposits[0].Info.WithdrawableAmount =
+					stakingInfo.AssetBasicInfo.TotalSupply.Add(math.NewInt(1))
 			},
 			unmalleate: func(gs *types.GenesisState) {
 				gs.Deposits[0].Deposits[0].Info.TotalDepositAmount = math.NewInt(100)
+				gs.Deposits[0].Deposits[0].Info.WithdrawableAmount = math.NewInt(100)
 			},
 		},
 		{