Prevent empty channel version (backport #1697)

[mergify]

This is an automatic backport of pull request #1697 done by Mergify.

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[codecov]

Codecov Report

Merging #1708 (b2aa4a4) into releases/v0.4x (15bc22a) will increase coverage by 0.04%.
The diff coverage is 100.00%.

@@                Coverage Diff                 @@
##           releases/v0.4x    #1708      +/-   ##
==================================================
+ Coverage           57.60%   57.65%   +0.04%     
==================================================
  Files                  62       62              
  Lines                8084     8086       +2     
==================================================
+ Hits                 4657     4662       +5     
+ Misses               3041     3039       -2     
+ Partials              386      385       -1     

Files	Coverage Δ
x/wasm/ibc.go	68.71% <100.00%> (+0.35%)	⬆️

... and 2 files with indirect coverage changes