diff --git a/CHANGELOG.md b/CHANGELOG.md
index e98aeb27a..428513fd2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,9 +1,20 @@
+## [1.1.0-dev.2] - 2024-07-24
+
+### Bug Fixes
+
+- Address already in use (#845)
+- Active validators not always connected to each other (#844)
+
 ## [1.1.0-dev.1] - 2024-07-23
 
 ### Features
 
 - [**breaking**] Replace dash core quorum sign with quorum platformsign (#828)
 
+### Miscellaneous Tasks
+
+- Update changelog and version to 1.1.0-dev.1 (#842)
+
 ### Build
 
 - Bump bufbuild/buf-setup-action from 1.33.0 to 1.35.0 (#841)
diff --git a/version/version.go b/version/version.go
index f7d6e2981..76ad983d5 100644
--- a/version/version.go
+++ b/version/version.go
@@ -9,7 +9,7 @@ var (
 const (
 	// TMVersionDefault is the used as the fallback version for Tenderdash
 	// when not using git describe. It is formatted with semantic versioning.
-	TMVersionDefault = "1.1.0-dev.1"
+	TMVersionDefault = "1.1.0-dev.2"
 	// ABCISemVer is the semantic version of the ABCI library
 	ABCISemVer = "1.0.0"