diff --git a/CHANGELOG.md b/CHANGELOG.md
index 98aaa0428..2b9714cc6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+## 0.5.1 (May 30, 2017)
+
+BUG FIXES:
+- fix ibc demo app to use proper tendermint flags, 0.10.0-rc2 compatibility
+- Make sure all cli uses new json.Marshal not wire.JSONBytes
+
 ## 0.5.0 (May 27, 2017)
 
 BREAKING CHANGES:
diff --git a/version/version.go b/version/version.go
index 07d89dbe9..03554e11d 100644
--- a/version/version.go
+++ b/version/version.go
@@ -2,6 +2,6 @@ package version
 
 const Maj = "0"
 const Min = "5"
-const Fix = "0"
+const Fix = "1"
 
-const Version = "0.5.0"
+const Version = "0.5.1"